NE states to capitalise LEP: SEBI Chairman

Agartala, May 27 (UNI) Chairman of Securities Exchange Board of India (SEBI) M Damodaran has advised all the North Eastern states to capitalise the UPA government's Look East Policy (LEP).

Talking to newspersons here today, Mr Damodaran said LEP is the fundamental correction of a rapid development of western region to ensure balance the country's economic growth.

''Though India is not a part of Southeast Asia, it is now emerging as a dialogue state partner of Association of South East Asian Nation (ASEAN), due to the geographical location and proximity with ASEAN gateway- Myanmar and Bangladesh,'' Mr Damodaran said.

He stated that the NE states have huge potential to influence the economic activity of India as well as the neighbouring countries.

The Centre had announced the policy when the Southeast Asian nations were trying hard to improve the relative relationship between trading and sustainable economic growth, he said adding that NE states could get a vibrant economy by promoting capital investment, which is now contributing only 18-20 per cent of India's GDP.

UNI