Capital Market Grows In WB, Key To India's Economic Progress SEB

He however underlined that the revival of the century-old Calcutta Stock Exchange (CSE), which has been proposed by the state government in its budget after the change in power, would depend on its ability to garner sufficient trading volumes, raise a sustainable business model and make substantial investments in technology.

Speaking at an event, Building India's World Class Capital Market, of Bharat Chamber of Commerce, in the city Mr Pandey said, “West Bengal has been an important participant in India's economic and financial progress. The state's economy is estimated to have grown by 7.6% in FY26. Its participation in capital markets has also expanded considerably. The number of investors in the securities market from West Bengal has increased to over 90 lakh today from around 12 lakh in FY15.”

He added, “Around 36%, of these, are young investors below 30 years of age.

In terms of capital raising, more than 40 SMEs from the state have also accessed capital markets and raised over ₹1,400 crore through SME IPOs over the years. These developments reflect both growing economic opportunities and increasing financial participation from West Bengal.”

Elaborating on the capital market growth in the country, the SEBI chairman pointed out, “The number of unique investors in securities markets has increased fourfold since FY19, to over 15 crores. The momentum continues. We have witnessed strong activity in the primary equity market, with 189 IPOs raising over ₹98,000 crores during FY27 (April-September) so far.”

Asked about the CSE revival, the SEBI chief observed that the existing regulatory framework did not rule out the scope to set up new stock exchanges, provided such proposals meet prescribed governance and capital requirements. He said, “Having an exchange is one thing. But whether you would be able to really make it feasible is another.”