The new millennium will belong to Asia said the chairman of the Security and Exchange Board of India, Mr. D.R. Mehta, on Monday.

He was speaking at the second international conference on business and management held at the Nirma Institute of Management.

The conference deliberated on "emerging role of information technology in the global business environment."

Mr. Mehta said the advent of Internet will change the whole concept and definition of trading. Since Internet trading will be near to real time trading though there will be brokers in between also. The 100 per cent online trading has already been introduced, he added.

Talking about the concept of stockwatch, the chairman said that Sebi has been working on its second phase that will keep a watch on the stock marketing.

He said the stockwatch will monitor the anomalies in the suspicious companies. Elaborating on this issue he said that the Indian scientists have moved much ahead on this front and they will play pivotal role in taking India to new heights.

He said information technology has emerged as one of the strongest sector and there is a need to boost it further since 40 per cent of expertise in the silicon comes from India valley.

With the introduction of IT the world is shrinking and those who are not moving with the pace will be left out, he said.

The chairman said information technology has changed the whole definition of work resulting in downsizing and improvement in the quality of work life.

Narmada and major irrigation minister Jaynarayan Vyas present on the occasion said information technology will play an important role in the fast progress of the state in the 21st century.

Republished from Asian Age