Indian official warns traditional brokerage models face sustainability risks

Dr. Alok Tiwari, Joint Secretary at the Department of Economic Affairs, warned that traditional brokerage models may become unsustainable within the next decade due to rapid technological advancements. Speaking at the 16th ANMI International Capital Market Convention in Mumbai, Tiwari noted that disruptive forces such as artificial intelligence and quantum computing are fundamentally reshaping financial operations.

Tiwari urged market participants to prioritize professionalization, structural evolution, and governance reforms. He specifically questioned the long-term viability of small, family-controlled firms, suggesting that the industry may require corporate consolidation and institutional professionalization to keep pace with the brutal rate of technological change and capacity building in capital markets.