BIMTECH organizes seminar on Globalization and Inclusive Growth

In an attempt to facilitate the ongoing discussion, Birla Institute of Management Technology (BIMTECH), Greater Noida organised a three day National Seminar on Globalisation and Inclusive Growth starting May 2, 2008 at NUEPA, New Delhi. The inaugural address was delivered by former Finance Minister Mr Yashwant Singh.

Yashwant Sinha, in his inaugural address said, Globalization can be fair globalization if and only if there is no exploitation. Such a form of globalization will be less exclusive, more inclusive and better acceptable by everyone. Globalization is an inevitable process and it will be better for all concerned, if it can be managed properly. People should be more prepared and empowered, if investment is carried out in the different sectors which are of public utility. He added that the 21st century Globalization will be Asian Globalization.

The inaugural session of the seminar talked of the sectoral inequalities of growth in banking insurance, other financial services, trade, transport and communication, IT, agriculture, manufacturing, health and education. The seminar will also focus on regional and personal inequalities of growth in terms of employment, utilisation of human resource, income, wealth and consumption and incidence of poverty during the coming two days.

The main speakers during the forenoon session in the seminar were Dr. B Bhattacharya, VC, JNU (New Delhi), Mr. T.K. Arun, Resident Editor, Economic Times, Dr. Panchamukhi, former chairman, ICSSR (New Delhi), Mr. Nagesh Kumar, RIES, and Dr. J Tilak, NUEPA, who gave invaluable insights on the topic.

Dr. B Bhattacharya said that globalization benefits differentially. If perceived differences are sharp, then the prevailing system collapses. He said that not only do ideologies change with the changing environment but that globalization should have a human face, so that the system changes for the better.

Mr. T K Arun, was of the view that if the absolute income level of a person on the fringes of subsistence goes up, then even if the relative gap between the rich and the poor increases, it is not a problem. He said that social empowerment is of the utmost importance. According to him, the root cause of most social ills is political. It is the political choices which decide the public policy. He also reiterated the point that globalization should not be blamed for the problems plaguing a country. He said that investment has to be wide spread, not localized if sustained growth has to be there.

Prof Panchmukhi observed that whether globalization will challenge us or break us will depend on our attitude to it. It is true that globalization gives opportunities, but the question is whether we are able to utilize these opportunities. But then again, these opportunities should not come at the expense of the 80% of the population, who face all kinds of financial apartheid.

Speaking on the occasion, Mr Nagesh Kumar said that Globalization is a mixed bag challenges for those who are not empowered and opportunities for those who are ready. He said that the Asian companies are more socially conscious of the impact and are usually more willing to explore possibilities and potential. Not only that, he was of the view that the Asian governments are also more proactive in helping their home-grown companies to achieve better global success.

Dr. Harivansh Chaturvedi, Director, BIMTECH, speaking on the occasion, said, When we talk of globalization, we must understand what shape the new international economic order has and what has been the impact of globalization on our economy and business before we jump to such conclusions as it is bad or good.

Deliberations during the proceedings of the seminar also dealt with evaluations of the new economic policy adopted by the Government of India in 1991 which seem to have further accentuated developmental inequalities. The seminar brought researchers, policy makers and other academicians on a single platform to have focused discussion and critical evaluation of changes that have materialised due to globalisation and that need initiation for applying the correctives in future wherever the changes have moved into undesired direction.

The three day seminar also features speakers like Dr. Akhtar, Javed, Dean, AMU, Aligarh, Dr. Bhattacharji, T., VC, Assam University, Silchar, Dr. Gupta, Keya Sen, Dean, School of Social Sciences, Assam University, Silchar, Dr. Kumar, Arya, Professor, BITS, Pilani, Rajasthan, Dr. Kumar, Prahlad, Professor, University of Allahabad, Allahabad, Prof. Kumra, Rajeev, Professor, Indian Institute of Management, Indore, Dr. Mehta, A. C., Professor, NUEPA, New Delhi, Dr. Rao, D. N., Director, AIMA, New Delhi, Dr. Saklani, Alok, Director, Apeejay School of Management, G. Noida, Mr. Sarma, Atul, Member, 13th Finance Commission, Dr. Sriram, S, Executive Director, Great Lakes Institute of Management, Chennai, Dr. Zaidi, S.M.I.A, Professor, NUEPA, New Delhi.