A major chunk of growth in the global economy is now coming from the emerging markets, including India, Mr U.K. Sinha, Chairman, Securities and Exchange Board of India (SEBI) has said.

Delivering the convocation address at the Institute of Insurance and Risk Management (IIRM) here on Friday, Mr Sinha said 40 per cent of total capital raised in the world came from the emerging markets in 2010. More than one-third of global GDP was generated from these economies, he added.

Observing that a vigilant policy from the regulators shielded India from many adverse consequences of the global financial crisis, the Sebi chief said social relevance of innovative financial products should be examined.

The importance of risk management in financial services was now globally recognised, Mr Sinha said.

Mr J. Hari Narayan, Chairman, Insurance Regulatory and Development Authority (IRDA) and IIRM said the insurance industry and employment opportunities were expected to grow significantly in the days to come. The young insurance professionals should also learn to be fast and thorough and inculcate the spirit of team work to suit organisational goals, he added.

Mr Vepa Kamesam, Managing Director, IIRM, said the students of 2010-11 batch secured placements with an annual salary ranging from Rs 3-6 lakh.

Nearly 80 students who completed post graduate diplomas in various streams were given certificates and prizes.

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