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`Advancement in IT will help develop new products'

TAKING STOCK OF EQUITY: Mr G.S. Subrhmonya, Area Manager, Stock Holding Corporation of India Ltd, addressinga BL Club meeting in Udupi on Thursday.

Mangalore , Nov. 30

Equity market in the country is poised for a towering growth, said Mr G.S. Subrhmonya, Area Manager, Stock Holding Corporation of India Ltd (SHCIL).

Delivering a Business Line Club lecture on `Future of equities' at Justice K.S. Hegde Institute of Management at Nitte in Udupi district on Thursday, he said that India was the best performing `emerging market' for August.

Quoting the Savings Data Release in the RBI annual report, he said more and more people are taking to equity markets.

Advancement in information technology will help develop new products to suit complex needs of the today's investor, he said.

However, the Indian equity market may face challenge in ASEAN-5 - Indonesia, Malaysia, the Philippines, Singapore and Thailand. Despite the financial crises in 1997, their economic growth picked up at five per cent in 2005-06, and India's growth stood at 6.3 per cent.

He termed Brazil, China, Hong Kong, Indonesia, India, Malaysia, Mexico, Pakistan, Philippines, Russia, Singapore, S. Korea, Sri Lanka, Taiwan and Thailand as the emerging markets.

Stating that there is tough competition among various branches of the financial sector, he hoped that single regulator for the financial sector could be thought of. Quoting a report where it was stated that NYSE Group Inc and National Association of Security Dealers have agreed to form a single regulator for the securities industry, he said the `single regulator' move has already been initiated in the US.

Dr M.S. Moodithaya, Director of the institute, was present on the occasion.

Mr T. Ravi, Senior Regional Manager, The Hindu, Mangalore, gave a presentation on Business Line on the occasion.

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