Sheikh Hamdan Visits BSE During India Official Tour

Post by: Bandan Preet

Photo: Dubai Government Media Office

His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, the Crown Prince of Dubai, visited the Bombay Stock Exchange (BSE) in Mumbai, India. He is also the Deputy Prime Minister and Minister of Defence of the United Arab Emirates (UAE). This visit was a part of his official trip to India.

The BSE is one of the oldest stock exchanges in the world. It was started in 1875 and is the first stock exchange in Asia. It is located in Mumbai, which is known as India’s financial and business capital.

When Sheikh Hamdan arrived at the BSE, he was welcomed by Mr. Sundararaman Ramamurthy, who is the Managing Director and CEO of the stock exchange. As part of the ceremony, Sheikh Hamdan rang the opening bell, which marks the beginning of the trading day.

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During his visit, he was shown how the BSE works. He learned that the exchange has over 5,600 listed companies and is one of the biggest stock exchanges in the world in terms of the number of companies and market value. He was also told about the steps BSE is taking to improve its systems and offer more services to help the Indian financial market grow.

Sheikh Hamdan spoke about how the UAE wants to build stronger financial ties with other countries, including India. He said both the UAE and India are using modern technology like artificial intelligence and blockchain to improve their financial systems.

He explained that working with international stock markets is a part of the UAE’s larger plan to support global trading and bring in more investment. He also shared Dubai’s big economic goals, which include becoming one of the world’s top four financial centres. This goal is part of the Dubai Economic Agenda called D33. Dubai also plans to grow its capital markets to a value of AED 3 trillion.

Sheikh Hamdan said he looks forward to stronger cooperation between the Bombay Stock Exchange and the Dubai Financial Market. He believes this will help connect the capital markets of the East and West even more.

The BSE has been an important part of India’s financial system for nearly 150 years. It gives Indian companies a strong platform to raise money and grow. In May 2024, the total value of all companies listed on the BSE crossed $5 trillion, showing the strong progress of India’s economy.

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