The article discusses how SEBI plays a crucial role in shaping capital market reforms in India. It explores investors' views on SEBI's impact on the securities market, which has become a key source of finance for businesses. The study shows that SEBI is seen as an effective and independent regulator, implementing disclosure-based regulations to enhance market safety and efficiency. The research uses both primary and secondary data to analyze the advantages, disadvantages, and key issues in the Indian capital market. Overall, the paper emphasizes the importance of ongoing reforms in the capital market to support industry development in India.