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The link between stock market development and economic activity has always been the subject of considerable debate in the field of economics and it raises empirical question whether stock market development influences economic activity or whether it is a consequence of increased economic activity. This study attempts to investigate the direction of causality between stock market development and economic growth in the Indian context. Using the cointegration and causality tests for the perioddoi:10.20525/ijfbs.v3i3.187 fatcat:632lnjaxdnhxlcbcfkkrexxbxy