Securities Exchange Board of India or SEBI Chairman Tuhin Kanta Pandey has noted in a speech that India’s capital markets could soon become the preferred destination for household savings, provided the country sustains its economic growth trajectory. Speaking at the 'CII National Financing Summit', he stated that India’s unique investor base could double over the next three to five years, given the still-low penetration of equity ownership. Over the past ten years, capital markets — equity and debt together — have facilitated average issuances of roughly Rs 9.5 lakh crore every year. Domestic investors, including both households and institutions, now own a larger proportion of listed stocks than foreign investors, a sign of rising market confidence. Deeper participation will be essential to converting India's growing savings pool into long-term capital for businesses, as there are approximately 135 million distinct market participants, Pandey noted. India’s market capitalisation-to-GDP ratio, a broad indicator of the role of capital markets in national wealth has moved from around 69% in FY16 to more than 130% today. This is not the story of a market growing on sentiment; this is the story of an economy whose productive sectors are increasingly funded through transparent, fair and competitive market mechanisms.