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Govt moves to woo retail investors

business Updated: Jul 15, 2010 00:31 IST
HT Correspondent
HT Correspondent
Hindustan Times
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In a bid to invite non-investors to invest on a large scale and at the same time spread awareness on the Investor Protection Act, the Ministry of Corporate Affairs is taking an action-oriented approach to draw investors towards the capital market.

"The investment culture should be made attractive. Household and other savings can be directed to the capital market. Small investors need to be educated about the capital markets. Even if 2 per cent contribution goes to the capital market, it will do wonders to the nation's GDP," said Salman Khurshid, Minister of State for Corporate Affairs. The minister said this in light of the fact that investors are not convinced and coming forward to generate wealth.

Besides encouraging the retail participation in the growth of the corporate sector the mass-movement endeavour is also about helping the common man make informed investment decisions and create awareness regarding his rights.

In this context the Ministry has rolled out investor guides and investor related websites in 12 regional languages. The New Companies Bill will be passed later this year.

"Corporate growth is at present restricted to just 5 per cent of the population. This perception needs to be changed. We are looking at upscale this initiative in a big way," said R Bandyopadhyay, Secretary, Ministry of Corporate Affairs.