Recognizing this challenge, Mr M Damodaran, SEBI Chairman, said, "Indian economy is buoyant and will continue its march. To continue their march, Indian corporates need availability of finances at the right price, and speedily. SEBI wants to usher in more financial sector reforms to help Indian corporates get better access to markets." He was speaking at National Finance Symposium organized by Indian Institute of Foreign Trade (IIFT), along with Federation of Indian Chambers of Commerce and Industry (FICCI), on October 9 in Mumbai.
The symposium is focused on 'Financing corporate India's growth: Trends issue and opportunities'.
At the symposium, Mr Damodaran said that SEBI has recently introduced a new instrument called Qualified Institutions Placement (QIP) which makes Indian markets at par with international markets. Said Mr Damodaram, "QIP compares favorably with GDRs. Many Indian corporates have gone for QIP while they were evaluating doing a GDR."
Mr. Damodaran is the chairman of the Securities and Exchange Board of India (SEBI), the country's financial market watchdog, before that he headed the IDBI bank for a short stint. Prior to that appointment Shri M Damodaran took over charge as Chairman, Unit Trust of India, in July 2001. He belongs to the IAS service, Manipur-Tripura cadre.
Earlier, delivering his inaugural address, Mr KT Chako, Director, IIFT said, "Indian economy can certainly continue to grow at a rapid pace. Three things are important: sustainability, augmentation and acceleration. Financial sector must focus on these three things."
The symposium is divided into four session includes Inaugural session and discussion on 'Emerging Avenues of Financing-The Domestic Angle', 'Cross Border Investment and Financing' and 'Over and Above – Regulatory, Ethical, and Other Issues'.
The speakers include Mr. Sushil Jiwarajka, Chairman, FICCI Western, Regional Council, Mr. A K Ravi Nedungadi, CFO UB GROUP; Mr. Anand Rathi, Group Chairman; Mr. Falguni Nayar, MD - Kotak Investment, Bank; Mr Koushik Chatterjee, CFO, Tata Steel; Mr. R K Nair, Executive Director, SEBI; Mr. R Sridharan, MD & CEO, SBI Capital, Markets Ltd; Mr. Rashesh Shah, CEO, Edelweiss Capital; Mr. Sanjay Nayar, CEO, Citigroup (India); Mr. Saurabh Shah, Director 3i; Mr. Sunil Gulati, Group President Yes Bank; Mr. Varun Bajpai, MD Corporate Finance, Macquarie Bank.
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