The National Stock Exchange of India (NSE) held its 'India ETF Conference 2015' on Monday. The exchange has 97 per cent market share in assets of equity-based ETFs, with 11 equity Nifty 50 ETFs in India and six Nifty 50 ETFs listed abroad.
"NSE has taken several initiatives to launch ETF products in India and abroad. Soon we expect the ETF sector to have Rs 1 lakh crore AUM," said Chitra Ramkrishna, managing director & CEO, NSE. Added UK Sinha, chairman, Sebi: "The ETF market has grown 12 times in the last 12 years. A stage has come when along with the Employee Provident Fund, others funds can look at ETFs too. The big plus for ETF is the cost of trading."
The exchange felicitated 16 companies who have been part of the Nifty index since inception. These include ACC, Ambuja Cements, Bajaj Auto, Grasim Industries, HDFC, HDFC Bank, Hindalco, HUL, ICICI Bank, ITC, L&T, RIL, SBI, Tata Motors, Tata Power and Tata Steel.