One Year of Modi 3.0: How Did India's Stock Market Perform?

Prime Minister Narendra Modi said on Monday that in the last 11 years of his leadership, India has not just become the fastest-growing major economy but has also managed to become a global voice on pressing concerns such as climate action as well as digital innovation.

The Prime Minister said that there have been several positive changes in the last 11 years, which have boosted "Ease of Living" as his government finished the first year of its term on Monday.

In a post on X, PM Modi said that powered by the blessings and collective participation of 140 crore Indians, India has witnessed rapid transformations across diverse sectors.

He added that guided by the principle of 'Sabka Saath, Sabka Vikas, Sabka Vishwas, Sabka Prayas,' the NDA government has delivered path-breaking changes with speed, scale and sensitivity, he said.

How Has The Stock Market Performed In The Last 11 Years?

In the last 11 years, several stocks have delivered multibagger returns, including stocks like Uno Minda, Trent, Deepak Nitrite, Tata Elxsi, TVS Motor Company, among others.

Among state-run stocks that have given good returns are SJVN, Hindustan Petroleum Corporation (HPCL), NHPC, REC, Power Finance Corporation (PFC), as well as Steel Authority of India (SAIL).

What Do Experts Say?

According to Prashant Sadarangani, Chief Operating Officer and Fund manager at Samarth Wealth Management, the macro is turning very positive for India and at least on a relative basis India is looking good as oil prices have come down which is giving RBI the room to cut rates, and increase liquidity in the system in a big way.

"Spanning from May 2014 to June 2025, the Nifty 50 has experienced significant growth, almost a 240% rise over a decade! Confidence is the key word I would like to use when describing the stock market under Prime Minister Narendra Modi's leadership. Today when we speak with our global investors be it in the United States, United Kingdom, UAE, or Africa, they realize that our market is entirely a function of the revival in government spending and increase in rural demand," he said.

According to Sadarangani, India stands to be a big beneficiary in the complicated trade situations affecting China and the EU, which is going to be a headwind.

He further added that Prime Minister Modi has done a great job on growth friendly actions.

He added that even if 7% GDP does not persist, 6% GDP growth and a 10% nominal, will provide a nice cushion to the markets.

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