India Aims to Shift Finance from Banks to Markets to Power Growth to $30 Trillion GDP

• Shift from traditional banks to capital markets (debt and equity) to help India achieve 9% growth, $30 trillion GDP target

• Avoid market bubbles via policy, regulation, education, quality instruments

• Companies should raise equity capital more cost-effectively to fund growth

• Address tax imbalances between debt and equity markets

• As savers become investors, banks must evolve into corporate debt distributors and serve MSMEs and consumers