Chairman of Securities and Exchange Board of India (SEBI) Mr. U K Sinha today said the equity market should not be considered as a market of speculators. He was speaking at the 26th Skoch Summit in Mumbai today. Mr Sinha said there is a need to simplify the procedures for market investments to increase retail participation. He informed that the market regulator is now working to simplify disclosures in Initial Public Offers (IPO), which currently are too voluminous and unstructured. He said India has 8 percent retail participation in market investments as against 20 to 33 per cent in South Korea and China. Mr Sinha added that the market regulator has become tech-savvy and is in the process of setting up a world-class facility for surveillance of activities in the capital market. He said that savings money has to be converted into investment for the economy to grow in a fruitful manner.