India should become a regional hub for financial services and constantly engage in new activities to sustain economic growth, Union Finance Minister Jaswant Singh said on Thursday.

"We should improve the financial sector to provide services to the entire region," Singh said after laying the foundation for Securities and Exchange Board of India's proposed new headquarters at Bandra-Kurla complex in central Mumbai.

Indian business and finance community has a natural flair to deal with money and capital markets and people working in this sector should go out in the world to grab opportunities, Singh said adding, "The government will provide all support to this endeavour".

Citing the example of Surat, which was once a thriving banking centre, Singh said those involved in trade had then perfected the 'hundi' (traditional financial instrument) system.

On the health of Indian economy, the finance minister said, "Our growth must never stop and we must continuously engage in new activities".

The system should not be the victim of destiny and instead musts become a catalyst for change, he added.

Sebi chairman G N Bajpai said the market regulator has prepared a four-pronged strategy, including revamping the organisation and establishment of a data centre, to bring Indian capital market on par with global standards.