Experts hopeful of Indian market revival

The capital market experts have expressed hope and confidence of the Indian market revival with the new government coming into existence.

Speaking after inaugurating a seminar on ‘Capital market- The Growth Engine,’ organised by the Institute of Company Secretaries of India (ICSI) at Karnataka Bank auditorium in the city on Wednesday, Canara Bank Chairman and Managing Director R K Dubey said that the capital market which was sluggish during last years has become active in last two months.

“We should give atleast six months time to the new government to see what action will be taken to improve the market scenario and we are hopeful that things will turn better,” he said.

Terming inflation, untimely monsoon and Iraqi crisis as three factors that would affect the Indian market, Dubey said that the steps taken by the government to address these issues would play a decisive role in maintaining the capital market. No business can sustain without innovation. Therefore more innovations have to be brought in to attract investment, he said.

Stressing the need for ushering in stringent compliance system like in USA or South Africa, the Canara Bank Chairman and Managing Directorsaid that compliance system will improve the customers trust on companies.

 “Indian market is ready to scale greater heights and company secretaries will be the drivers of the growth,” he said.

In his key-note address, ICSI Secretary M S Sahu explained the role of company secretaries to help the company maintain equilibrium. Success of a company depends on how a CS balances company interest with public interest. “With the new government coming to power, we are looking for a change in the economic system,” Dubey said.
Institute of Company Secretaries of India President R Sridharan presided over the programme.

Sessions on ‘Regulatory changes and challenges,’ ‘The growth driver’ and ‘Investor activism and class action suits’, were held.