The Union Ministry of Corporate Affairs and the Reserve Bank of India, along with various chambers of commerce and the corporate sector, have launched an investor awareness programme on capital market for rural masses, said Salman Khursheed, Minister of State for Corporate Affairs (Independent Charge), here on Saturday.
Participating in a programme jointly organised by the Union Ministry of Corporate Affairs and Southern Indian Chamber of Commerce and Industry (SICCI), Mr. Khursheed said at the time of recession the country's GDP slipped only by half a per cent. The recession did not affect the economy owing to savings and controlled economic policies.
The decision taken by industry could succeed only when the common man participated in it. Hence, the idea to create awareness of capital markets among rural people, he said. The Ministry had conducted similar programmes in 14 States in the country from Assam in the North-East to Chennai in south. Brochures had also been brought out in 14 languages.
Indian capital market evolved more than a century ago, said G.K. Vasan, Minister of Shipping. With the advancement of technology trading system became fully automated. Now even individuals could participate in the capital market. The investors should observe certain basic rules for their own interest. There has been a rapid change in the Indian securities market with the advancement of technology leading to online transactions and modernisation of stock exchanges, said A. Vellayan, president, SICCI. In terms of number of companies listed and total market capitalisation, the Indian equity was considered large relative to the country's stage of economic development. These robust indicators placed the country as the fastest growing economy in the world.
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