Recession in India is more psychological than real...
Saturday, 21 February 2009
Recession in India is more psychological than real…
Recession is the product of irrational consumer-expectations and the manipulation of markets by the financial sharks. Before we fight it, we can really avoid it through the combined efforts of the government and the corporates, said Prof. B B Bhattacharya , Vice Chancellor, JNU. He was addressing a gathering of industry leaders, faculty and students at the Faridabad Institute of Technology, MR International University( MRIU). The herd mentality, he observed, of the consumers and investors is also a factor leading to such crises world wide. The consumption not matched by income of the neo-rich has also contributed to the slow down in India in particular.
Glaring questions
Welcoming the eminent experts, the MRIU Executive Director Col. (R) V K Gaur raised the questions that need to be addressed for better future of the world. These include: how far the trade protectionism in different countries will help restore the normalcy? Will Bharat bail out India from the current situation? How will a highly decentralized polity remedy the problem plaguing quite a centralized economy that is India?
Recovery in the third quarter
Recession in India is more psychological than real and what we see today is just a slowdown, said T K Arun, Editor, The Economic Times.. Sensex being not the real indicator of economic growth in India, he added, stock market-generated recession will give way to recovery in the third quarter of the current fiscal itself. The growth in telecom sector as registered in January this year, about 15 million connections, is a testimony to it.
Greed the culprit
Echoing the same perception, ARPL India’s MD Vijay Sardana said that the greedy managers trained at the best B-schools have punctured the optimism and the buying powers of the urban buyers in India. Reality sector is an example of this.
Recession or opportunity?
On the other hand the SMC Global president Rajesh Jain wanted the industry leaders and strategists to look at the current hyped slowdown as an opportunity and encash on the cost-cutting drive of the developed economies by way of cheap labour and strong knowledge base. This slowdown is just a cycle like any other and it will leave us more efficient and cost-effective at the end of the day.
Retaining the old customers and employees
The challenge today is not how best to sustain growth in the short run, opined UIMS Executive Director Neeran Gautam, rather the real challenge is retaining the old customers and employees who carry with themselves loyalty and the twin-jewels of experience and initiative. He was surprised at the media hype about recession in India that is only next to China with the capacity to bail out the world economy from the current crisis.
Good things are round the corner
Good business practices, innovative products and creative marketing tools are about to overwhelm us , thanks to the recession in the West and the fear of recession in the East, said Venkatesh Mahadevan, Director, Information Technology ( Asia), Motorola. We need to revisit our plans and connect to the customers.
MRIU Vice Presidents Prashant Bhalla and Dr. Amit Bhalla received the guests on behalf of the Chancellor, MRIU, Dr. O P Bhalla and Brig. ( R) S N Setia, Vice Principal, FIT, proposed the vote of thanks to the dignitaries.
Recession in India is more psychological than real…
Recession is the product of irrational consumer-expectations and the manipulation of markets by the financial sharks. Before we fight it, we can really avoid it through the combined efforts of the government and the corporates, said Prof. B B Bhattacharya , Vice Chancellor, JNU. He was addressing a gathering of industry leaders, faculty and students at the Faridabad Institute of Technology, MR International University( MRIU). The herd mentality, he observed, of the consumers and investors is also a factor leading to such crises world wide. The consumption not matched by income of the neo-rich has also contributed to the slow down in India in particular.
Glaring questions
Welcoming the eminent experts, the MRIU Executive Director Col. (R) V K Gaur raised the questions that need to be addressed for better future of the world. These include: how far the trade protectionism in different countries will help restore the normalcy? Will Bharat bail out India from the current situation? How will a highly decentralized polity remedy the problem plaguing quite a centralized economy that is India?
Recovery in the third quarter
Recession in India is more psychological than real and what we see today is just a slowdown, said T K Arun, Editor, The Economic Times.. Sensex being not the real indicator of economic growth in India, he added, stock market-generated recession will give way to recovery in the third quarter of the current fiscal itself. The growth in telecom sector as registered in January this year, about 15 million connections, is a testimony to it.
Greed the culprit
Echoing the same perception, ARPL India’s MD Vijay Sardana said that the greedy managers trained at the best B-schools have punctured the optimism and the buying powers of the urban buyers in India. Reality sector is an example of this.
Recession or opportunity?
On the other hand the SMC Global president Rajesh Jain wanted the industry leaders and strategists to look at the current hyped slowdown as an opportunity and encash on the cost-cutting drive of the developed economies by way of cheap labour and strong knowledge base. This slowdown is just a cycle like any other and it will leave us more efficient and cost-effective at the end of the day.
Retaining the old customers and employees
The challenge today is not how best to sustain growth in the short run, opined UIMS Executive Director Neeran Gautam, rather the real challenge is retaining the old customers and employees who carry with themselves loyalty and the twin-jewels of experience and initiative. He was surprised at the media hype about recession in India that is only next to China with the capacity to bail out the world economy from the current crisis.
Good things are round the corner
Good business practices, innovative products and creative marketing tools are about to overwhelm us , thanks to the recession in the West and the fear of recession in the East, said Venkatesh Mahadevan, Director, Information Technology ( Asia), Motorola. We need to revisit our plans and connect to the customers.
MRIU Vice Presidents Prashant Bhalla and Dr. Amit Bhalla received the guests on behalf of the Chancellor, MRIU, Dr. O P Bhalla and Brig. ( R) S N Setia, Vice Principal, FIT, proposed the vote of thanks to the dignitaries.
posted by U&Me | 3:47 AM
1 Comments:
Brilliant sir, a perfect way to some up all the activities of the day. But I'm curious, is this the official Press Release or is it a separate article that you wrote for yourself?
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