The Forum of Free Enterprise is a non-political organization founded in 1956 by A. D. Shroff has been established to educate public opinion in India on free enterprise and a democratic way of life. The Forum publishes booklets to further its objects. The following booklet titled ‘The Stock Exchanges In India- The Emerging Scenarios And Challenges’ is a book form of a lecture delivered by Mr G. A. Patel on the auspices of the A.D Shroff Memorial Trust in Bombay. The booklet was published on 11th May 1987.
The booklet illustrates the early days of Stock exchange in India facing problems such as excessive speculation; lack of adequate resources of many a member to back up their commitments; and, the general lack of awareness among members of their socio-economic obligations which are at the root of many a failing of the Stock Exchanges, in becoming the most efficient financial intermediaries, for mobilising the savings of the community. Mr Patel taking reference from the recent trends in the Stock exchange abroad, recommends the need to make the stock exchange more investment-oriented, relaxing the procedure for allotment of share as per Companies Act 1956, improving qualitative services by increasing competition, building investment culture for strengthening the capital market and taking legislative action against malpractices that disrupts the smooth functioning of the market.