The Department of Business Economics, University of Delhi on the 2nd of November organized the 46th Annual Convention, the Department’s flagship event. The event was graced by the presence of several dignitaries belonging to eclectic backgrounds, ranging from eminent government officials to corporate trailblazers, the event kicked off with an address from the chief guest, Dr. Rathin Roy, Director and Executive at National Institute of Public Finance and Policy. A person whose feats and accomplishments warrant an article all by itself. An academician at heart, he began the session by quizzing the gathering about the negative yield curve and its detrimental effects. He approached the topic of Economic slowdown in a methodical manner. ‘India is a very expensive place to do business’, he contended. Which is why we are able to produce high-end apparels competitively but not low-end ones. He also highlighted the sociological barriers that are acting as a hindrance to the Indian growth story.
This was followed by a session with Mr. Yogesh Suri, Senior Adviser at NITI Aayog. He enunciated the constraints of the 5-year plan which led to the founding of NITI Aayog. He talked about many issues like top-down planning through the allocation of resources, lack of coordination where we have a plethora of schemes, insufficient monitoring of implementation on ground and evaluation of outcomes.
This was followed by a Panel discussion on ‘Governance and Corporate Sector’, Prem Kumar, VP- Oak North discussed the importance of moving from a ‘fear economics’ to a ‘trust economics. The aspects of Insolvency and Bankruptcy code were also highlighted as the most important reform done in India’s financial history.
The final Panel discussion revolved around the topic of ‘Technical Disruption’. Dr. Ankita Singh, VP & Global Head HR, CIGNEX Datamatics pointed out that Technical Disruption has always existed, only the proportion has mushroomed drastically over time. The discussion was concluded with the consensus that Technical Disruption is both an opportunity and a threat, it depends upon how it is perceived and how we adapt to the change.