More stock exchanges for financial inclusion: Khurshid

Calling for financial inclusion in India's growth story, Corporate Affairs Minister Salman Khurshid today said more stock exchanges should be set up and infrastructure developed, specially in rural areas, to help larger number of people to invest.

"India needs to have inclusive growth which would require a very robust capital market within the overall financial sector. We should have multiple exchanges to achieve penetration of 100 million investors from around 15 million investors at present. In principle, we are open to the idea of having more exchanges," Khurshid told reporters here.

"We need to set up infrastructure and have more connectivity, especially in rural areas, through telephony to ensure that local exchanges can play a part in the overall financial inclusion of India's growth."

Khurshid said the government wants to promote more competitive economic environment to ensure lower cost, better service and penetration in the country.

He added that India needs greater financial literacy and the means in rural areas for more participation and investment in the stock markets.