Jignesh Shah talks about ecosystem enhancement

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JIGNESH SHAH TALKS ABOUT ECOSYSTEM ENHANCEMENT
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Jignesh Shah talks about After setting up 10
exchanges across six continents in a span of 10
years, engineer-turned-financial market wizard
Jignesh Shah now sees 100-times bigger business
potential in a 'startup ecosystem' and which he
feels can create up to 10 crore jobs over the
next decade.
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(No Transcript)
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While one of his flagship exchanges, MCX
(Multi-Commodity Exchange of India), had become
the worlds second-largest commodity bourse under
his leadership and all other group exchanges were
also doing well before his exit, Shah said he
does not want to bask in his past glory and the
time is no longer right for a business model
focused on exchanges.
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100 DONE
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I am rather thinking about ecosystems as they
make much more sense in todays
digitally-connected borderless world and I see
myself creating and innovating products and
businesses for the masses as a coach and as a
mentor, he said. In her Budget speech in July,
Finance Minister Nirmala Sitharaman had said it
was time to take capital markets closer to the
masses and meet various social welfare objectives
related to inclusive growth and financial
inclusion. She proposed to initiate steps towards
creating an electronic fund-raising platform, a
social stock exchange for listing social
enterprises and voluntary organizations working
on social welfare objectives so that they can
raise capital as equity, debt or as units like a
mutual fund.
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Asked whether he can set up such an exchange,
Shah said the Modi government has created an
enabling environment for new ventures, which was
not the case during the earlier regimes, and
still he went on to successfully set up 10
exchanges including in places like Singapore.
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Asked about water conservation, which is another
focus area of the government, and whether he can
look at some financial marketplace products in
this area, Shah said something similar was done
during his first innings for carbon credits and
it was followed up with an electricity exchange
that no one had thought could be viable at that
time.
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THANKS