The Hindu Business Line : In the interest of investors

The Institute of Chartered Accountants of India (ICAI), Bharat Chamber of Commerce (BCC) and Association of NSE Members of India (ANMI) are organising an all-India conference on the capital market in Kolkata later this week. The deliberations will revolve around the theme ‘Indian capital market – Vision 2010’.

The conference will, among other things, seek to discover whether the domestic market is large enough to absorb the capital requirements of the country’s growing economy. It will also aim at providing an overview of the opportunities that exist in the market today.

According to the organisers, the conference will try to compare the benefits of raising finance on two fronts – domestic and international – and discuss the challenges that investors are expected to face in both spheres. Further, there will be an attempt to examine whether issuers of capital, especially IPOs, actually meet global standards.

The positioning of the Indian market over a period of time will be discussed by conference participants. Importantly, the possibility of widening the country’s investor base will also be considered.

The conference will be rounded off with a debate – “In the opinion of the House, the Indian capital markets are more of a traders’ paradise rather than an investors’ heaven”.

Proposed subjects

Overall, the subjects that are proposed to be discussed, the organisers added, will hinge on three pivots: Raising finance via the capital markets route; need for sustained capital mobilisation to drive the economy; and performance of Indian companies in the context of inviting investments from abroad.

Leading investment specialists, including fund managers and other professionals, are expected to participate in the discussions. Incidentally, ICAI is being led by its Committee for Financial Markets & Investors Protection.

In this connection, sources referred to what are being considered as relevant issues for all followers of the capital market. These include the need to safeguard investors’ interests, the need to ensure ethical conduct by intermediaries and the need to develop administrative and technical skills for the financial sector. — Our Bureau

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