Shri Ram Murti Smarak
College of Engineering & Technology, Bareilly

16 & 17 Feb 2008

12th National Seminar Organised by Faculty of management Science
on
Next Wave of Globalization: Financial Integration

Preceding

Respected Chairman Sir, Chief Guest, Guest of Honor, Director General SRMS, Executive Director of IMS Mr. Aditya Murti, Principal Sir and all the eminent academicians, industrialists & delegates who have graced the occasion by their presence and enlightening thoughts. With due permission of the president of Valedictory session of the House, I would like to present in brief the proceedings of the Two day seminar on the Topic “The Next wave of Globalization: Financial Integration” organized by FMS, SRMSCET Bareilly. The seminar was inaugurated by Chief Guest Mr.Alok Agarwal. Dr. S.P. Gupta introduced the theme of the seminar. He very aptly remarked on the norms & parameters that should be adopted by the countries so that their financial operations are not adversely affected. He provided food for thought to academicians & research scholars by raising a few research agendas like whether there can be a possibility for an International finance Market? Can there be a possibility of financial Integration in Micro financing, and the like issues. He expressed his desire that the deliberations of the seminar will help in creating a healthy financial Environment in the country.  

Dr.R.C.Mishra, Director IPSDR Kumaun University enlightened the house with his thought provoking ideas on the sub-theme “FINANCIAL GLOBALISATION: Issues to Ponder.”He said nobody or for that matter no country can live in ‘Isolation’ Globalization of goods & services has already taken place. He quoted certain interesting anecdotes emphasizing the supremacy of Rupee, Euro, and Petro Euro over dollars. He used an interesting metaphor which very lucidly explained the cause of downturn in U.S Economy. He said that globalization has been advantageously leveraged by the Asian nations to their benefits. He further said globalization has propelled growth & financial trade will enhance it further. One very interesting concept that he talked about was “TRILLEMA” that cannot be controlled by any government. It involves:

1)     Movement of Capital

2)     Exchange Rates

3)     Monetary Policy

The eminent academician Prof. G.C. Agarwal, a passout of Stanford University talked about the ‘Trickle Down Theory’ which he said will eventually lead to the benefits passing down to the poor. He said that Integration must be done on 3 levels:

1)     Institutional Integration

2)     Functional Integration

3)     Integration at Micro Level

He said that main issue involved in Integration is to channelise the Investment Pipeline. Chief Guest Mr. Alok Agarwal said that India is now global India with propelling rate of growth because it is a consumption economy. He explained it very lucidly by stating that unless there is sustainable consumption there will be no demand, no production and hence no growth. He quoted Alfred Toffler by saying “21st century belongs to people who can unlearn, learn & relearn”.

Towards the end he motivated the students & recommended that additional courses must be started in Retail Management & Insurances sector. In his address Chairman Shri Dev Murti ji welcomed the proposal of Mr.Alok Agarwal for forming a corporate Advisory Group which will ensure regular Corporate Interactions. He, aptly emphasized upon the liaison between academics & corporate. The First Technical Session was chaired by Prof. R. C. Mishra. In this session, Mr.Alok Agarwal delivered a thought provoking and highly motivating talk to the students. He made the session highly interactive by involving the students academicians & delegates equally. He talked about a number of management issues like ‘Customer Exultation’ Micro sector, VAT, trasition of China from closed economy to an open economy, Mauritious Routing, etc. He suggested the students to read a few books related to the recent issues of management. Towards the end he left a spell bound audience who were inspired and ignited to explore knowledge for furthering their career prospects.

Dr. R. C. Mishra, Chairperson of the I technical session emphasized on the importance of Indian Ethos & Scriptures. He said that the students must emphasize more on Indian literature which is like a sea bed containing millions of jewels which ought to be explored.

II Tech Session                                                                                                            

The II Technical session was chaired by Prof. G.C Agarwal, who deliberated on the importance of a globalization with respect to optimization of resources.

He introduced a term “globalization “which was the essence of his note The first paper was presented by Mr. Ajay Kumar Chauhan from Apeejay School of Management, New Delhi. The research paper was titled “The growing Indian economy and the IPO trends” which was based on the data regarding IPO’S collected between April 2006 & December 2007 . Ms. Shashi Pant from Lotus Institute of Management presented a paper titled “Risk Diversification” in which she talked about the ways of handling Risks.

Dr.M.S Agarwal  professor of commerce from S.N.College Badaun very interestingly talked about the concept of “Samta Karmasu Kaushlam” in his paper titled “Well Managed Cash Flow is the Key to Success” he emphasized upon the importance of liquidity in the business.

Ms. Neha Dhingra presented a paper titled “Capital Market & financial Integration”  in which she appraised the audience about the concept of ADR & GDR & talked about the popular theories related to Financial Integration. Mr.Vikas Srivastav presented a paper on “International marketing of Financial Services” in which he talked about the types of financial services & reasons for going international. The second Technical session came to an end with expert comments from Mr. Anil Chaudhary an eminent C.A. .