The chairman of the Securities & Exchange Board of India (Sebi), who was on a two-day visit to the city, is understood to have assured Mr Parekh of all assistance for making the CSE more efficient and competitive.

Mr Mehta and Mr Parekh met the West Bengal chief minister Buddhadeb Bhattacharjee.

According to Mr Parekh, the chief minister noted that a large number non-resident Bengalis in the United States were interested in investing in the state and the markets should play a proactive role in roping in such venture capitalists.

Mr Mehta noted that that a number of venture capital funds have shown interest and the issue will be raised before a high-level committee on capital markets on December 21.

According to Mr Parekh, the Sebi chairman has assured him of all help for increasing the turnover of the exchange.

On the other hand, Mr Mehta suggested that the exchange could tap the market of the north-east to increase its trading volume. He also suggested that the CSE should market itself aggressively, pointing out how the vice-president of Nasdaq visited India recently wooing companies to his exchange. Mr Mehta said the aggregate daily average turnover on the exchanges will be touching Rs 50,000 crore from the present turnover of Rs 15,000 crore.