India, April 26 -- Speaking at the 38th Foundation Day of the Securities and Exchange Board of India, Union Finance Minister Nirmala Sitharaman said India's capital markets must evolve with greater sophistication and foresight as they expand in scale and complexity, urging SEBI to adopt anticipatory regulation, deepen the corporate bond market and strengthen cybersecurity frameworks.

Addressing the gathering, Sitharaman highlighted SEBI's role in transforming Indian markets from trading rings and physical certificates to electronic order books and real-time supervision. "Periods of stress led to stronger regulation. Episodes of volatility led to stronger market infrastructure. That is how mature financial systems evolve," she said, notin...