![\"NSE\u2019s](\"https:\/\/static.toiimg.com\/thumb\/msid-132525899,imgsize-190501,width-400,height-225,resizemode-4\/nse-file-photo.jpg\")
<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div><\/div>\n<\/div>\nMUMBAI: An arm of NSE, the largest stock exchange in India by turnover, has launched an index constituting stocks of companies from among Nifty 500 companies that do not intentionally harm animals while carrying out their regular business. Named Nifty 500 Ahimsa Index, the gauge is aligned with principles of non-violence, the exchange said through a release.\u201cNifty500 Ahimsa Index will be attractive to investors who wish to invest in stocks of companies that do not engage in activities that harm animals,\u201d NSE Indices said. \u201cThe index has been developed in collaboration with the Ahimsagain Foundation as per their Ahimsa Investment Movement (AIM) framework, which evaluates companies based on the extent to which their products, services and business practices align with Ahimsa principles.\u201dThe index could expand investing practices based on the principles of non-violence. \u201cThe index is expected to serve as a benchmark for asset managers and facilitate the development of passive investment products, including exchange traded funds (ETFs), index funds and other structured investment solutions,\u201d the release said.Currently at least two mutual fund houses have schemes based on this theme. Quantum mutual fund had launched a fund on this theme in 2024 while last year The Wealth Company MF, one of the newer breed of fund houses, had launched its own scheme.The framework classifies companies into green, orange and red bands. Companies belonging to \u2018orange\u2019 and \u2018red\u2019 bands are excluded from the index, the release said.Interestingly, none of the bank stocks and Reliance Industries group stocks are included in Nifty 500 Ahimsa index, its fact sheet on NSE Indices site showed. However, all the top software exporters, automobile companies, real estate companies and several from other industries are included in it.According to a release from Ahimsagain Foundation, the AIM\u2019s objective is to redirect \u2018capital toward compassion\u2019. According to its brochure, it\u2019s aiming to channelise some of the mutual fund industry\u2019s investments based on the theme of Ahimsa.Total assets managed by India\u2019s mutual fund industry exceed Rs 82 lakh crore, \u201cyet cruelty-free investing remains limited. Many investments indirectly support animal-linked industries,\u201d it said.\u201cEthical investors lack clear alternatives. (There\u2019s no) simple way to assess portfolios through the lens of animal welfare. (But a) small shift in capital can create a big impact.\u201d<\/div>\n