The Association of NSE Members of India (ANMI) has completed 31 years of contributing to the growth and transformation of India’s capital markets. The association marked its 31st Foundation Day at the National Stock Exchange (NSE) in Mumbai, bringing together regulators, exchange leaders, market intermediaries and industry stakeholders to celebrate the journey of India’s securities market.
The event was attended by Govindayapalli Ram Mohan Rao, Executive Director, SEBI, as the Chief Guest, while Ashish Kumar Chauhan, MD & CEO, NSE, was the Guest of Honour. The celebration was presided over by Kamlesh D. Shroff, President, ANMI.
Founded in 1995, ANMI was established with the aim of creating a unified platform and a credible voice for market intermediaries. Over the last three decades, the association has grown into India’s largest association of capital market intermediaries, representing more than 800 broker members across the country.
During its 31-year journey, ANMI has worked closely with regulators, stock exchanges and market participants to support reforms, encourage industry collaboration and strengthen India’s securities ecosystem.
The foundation day celebration highlighted the remarkable transformation of India’s capital markets through a “Then and Now” narrative. The journey reflects how the market has evolved from physical share certificates and manual processes to a technology-driven ecosystem.
India’s securities market has moved from paper-based trading to seamless dematerialised holdings, from a cash equity-focused market to a diverse multi-asset ecosystem, and from limited derivative products to becoming one of the world’s largest derivatives markets.
The country has also witnessed major technological advancements, including the shift from periodic settlements to globally recognised T+1 settlement cycles and the introduction of optional T+0 settlement. Digital platforms such as ASBA and UPI have further simplified investing, making participation easier for millions of investors.
Looking ahead, ANMI highlighted that the next phase of capital market growth will be shaped by emerging technologies and evolving investor needs. Artificial intelligence (AI), digital public infrastructure, tokenisation, cybersecurity, financial inclusion and continuous innovation are expected to play a crucial role in defining the future of India’s financial ecosystem.
ANMI said it will continue supporting brokers through policy discussions, knowledge sharing and technology adoption, enabling market intermediaries to responsibly use emerging tools and strengthen investor confidence.
Speaking on the occasion, G Ram Mohan Rao, Executive Director, SEBI, said that India’s capital markets have undergone significant transformation through innovation, reforms and collaboration. He added that continued cooperation between regulators and industry stakeholders would be essential for building efficient, resilient and investor-focused markets.
Kamlesh D. Shroff, President, ANMI, said the organisation’s journey represents not only its own growth but also the remarkable evolution of India’s capital markets. He highlighted the transition from traditional trading systems to a globally recognised, technology-enabled market ecosystem.
He added that ANMI remains committed to working with regulators, exchanges and stakeholders to encourage innovation, strengthen investor trust and contribute towards building one of the world’s most progressive capital markets.
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