Research Conclave 2020
January 18, 2020
The Department of Management at I.T.S, Mohan Nagar organized Research Conclave on 5 Trillion Dollar Economy: Targets And Challenges for New India, on January 18, 2020. The program was inaugurated with the lighting of lamp to pay homage to the divine Goddess Saraswati, followed by welcoming of the guests by giving away plant saplings.
The inaugural address was delivered by Dr. Vidya Sekhri, Director Management (PG). She emphasized on the objectives of the topic. She also explains the initiatives taken by the Government of India in various aspects like urbanization, globalisation, banking, manufacturing, agriculture etc along with their challenges.
This was followed by a special address by Shri Surinder Sood, Director (PR). He talked about the role of aspirations, the gap between where we are and our goals, the need for self-driven people, rise in investment rates, etc. He also said that 5 trillion dollar economy is not an impossible dream as it can be easily achieved by the country by 2024.
Shri Arpit Chadha, Vice-Chairmen, I.T.S-The Education Group also pointed out the various facts provided by the Prime Minister as well as the Finance Minister in support of the fact that a country like India will become a global economic power house after achieving this goal, along with the challenges involved in his address on this occasion.
The Convener of the Conclave Dr. Rajeev Johari gave overview of the Conclave, its theme and agenda he also gave the brief introduction of all the speakers in the panel discussions to follow.
Mr. Yaduvendra Mathur, IAS, Special Secretary NITI Aayog, who was the Chief Guest for the occasion, explained through several facts and figures the steps to be taken by the people of the country for the future development. He also quipped that reality is harsh but can be created as the future depends upon the choices made by the people today itself, quoting several examples.
Finally the Guest of Honour Mr. Vijay Kumar, Director MSME, Ministry of MSME, Government of India shared his words of wisdom. He explained beautifully the working of MSME and also the steps taken by the same. He went on to mention that how MSME is helping and appreciating the entrepreneurs. In conclusion he said that challenge is to grow 8% to 9% every year in order to achieve the long term goals and move beyond the poverty line. The session concluded with the felicitation the guest by giving token of gratitude and respect to all the eminent guest of the day.
During Panel I, Dr. Vidya Sekhri welcomed the chief guests by presenting plant saplings to Mr. Ravi Nandan Sinha (Director, MSME Business Forum India), Dr. Sharad Kohli (Founder and Chairman, KCC Group), Dr. Ganesh Singh (Professor, AIMA) and Mr. Nishant Ranjan(Manager, RBI, Kanpur Division).
Mr. Ravi Nandan Sinha was the moderator of this session. The discussion was started by Dr. Sharad Kohli. He highlighted that it is always good to look at larger objectives. He also pointed out the according to the latest estimates 29% of Country’s GDP comes from MSMEs.
According to him we need to focus on - how Micro will become Small, Small will become Medium and ultimately Medium becomes Large industry. He also stated the reason behind the failure of 90% of the start-ups was the lack of orientation and patience.
Among the other panelists Dr. Ganesh Singh shared his views and stated that awareness is the key to know the avenues for developing our start-ups.
Mr. Ravi Nandan Sinha adding to these points gave a message to the students that talent and strength should be harnessed.
Dr. V. N. Bajpai, Chairperson PGDM, said that achieving 5 trillion dollar economy is not a dream, but rather a reality. Innovation and Technology are the two drivers that will contribute in achieving this dream according to him, also role of individuals is very important to develop such ecosystem.
Dr. Vidya Sekhri, Director (Management), mentioned that in a dynamic world we can see that marketing has totally changed. She also reminded that data protection plays an important role.
Finally Mr. Nishant Ranjan through his presentation shared ideas about offences relating to counterfeiting of bank notes, Detection and impounding of counterfeit notes, the role of thr RBI in currency management and its latest initiatives.
At the end of the first panel discussion, Director Management Dr. Vidya Sekhri presented Memento to honourable Chief guests as a token of respect and honour.
During Panel Session II, Director Management Dr. Vidya Sekhri welcomed the chief guests by presenting plant saplings to the eminent speakers for the session. Eminent Speakers of this session included Dr M.K. Bajpayee, Co-Chairman, National Educational Policy, ASSOCHAM; Mr Amit Sinha, DGM, RBI Kanpur; Dr Sudha Mysore, CEO, Agrinnovate India Limited, ICAR–IIHR; Mr Rajendra Srivastav(President & Market Business Leader for AES India); Mr Naveen Tandon, Director International External Affairs, AT&T India and Mr. S.P. Yadav, Lead District Manager, Syndicate Bank, Ghaziabad.
The moderator of this session was Dr MK Bajpayee, who started the discussion by stating that India needs integration in all departments.
Followed this Dr. Sudha Mysore shared her views explaining how ICAR had started the policy of innovation.
Mr. Manu Goyal suggested that the problem lies in the implementation of schemes. He said that to implement any policy integration is the foremost thing. According to him mentioned that pillars to grow economy are innovation, integration and implementation.
Mr. Rajendra Srivastava indicated that digitisation is the most important tool that businesses are adopting.
Mr. Amit Sinha from RBI said that the 5 trillion dollar economy goal is difficult but not impossible. The challenges to reach this target are Global Growth, the need for fiscal action, problems in tourism growth and support for the infrastructure sector. The primary objective highlighted in this connection was price stability.
Mr. Naveen Tandon said that the focus needed to be on where are we today and what are the current challenges. The panel discussion was closed with Mr.Tandon saying that communication will help to move business forward.
At the end of panel discussion Director Management Dr. Vidya Sekhri presented mementos to guests as a token of respect and appreciation.
In the end Dr. Indraneel Mandal delivered the Vote of Thanks on behalf of the organisers.