India will emerge stronger, post global recession
SUMIT BHATTACHARJEE
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Participants at a group discussion organised by The Hindu Education Plus present a rosy scenario of the Indian economy
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- Photo: C.V. Subrahmanyam
Creditable performance: Students of ICFAI National College airing their views at a group discussion on ‘India would emerge stronger, post-global recession’ in Visakhapatnam.
The students of ICFAI National College came out in one voice, ‘India would emerge stronger, post-global recession’.
The students from the MBA stream were participating in a group discussion organised by The Hindu Education Plus here Friday on the topic, ‘Will India emerge stronger, post the global recession’.
Many of the participants believed that the global recession has not hit India and the country is strong enough to get over it unscathed.
Initiating the discussion, Kamesh, a first-year student, came out with the opinion that since US is the biggest economy of the world; the global recession is due to the meltdown of its economy.
A couple of them came out with facts and figures in support. They pointed out that despite the global slowdown, India could still bring down the inflation rate from 12 per cent to 8 per cent and the GDP continues to hover around 7 per cent, while it has plummeted down to 2 or to the negative side for some countries. They felt that only certain sectors in India are marginally hit.
A student held that India is a developing country and has many sectors and is not dependent on any one sector, “The government should bring out concrete policies to interlink and develop the sectors,” he said.
Highlighting the strength of the nation, a couple of students opined that the credit and financial policy of the nation, especially that of RBI and SEBI, is very strong and conservative.
“India has a very strong retail market and its telecom and capital market is vibrant. The BSE is next to NYSE in the world and the marginal fall in the capital market should be viewed as recession. The economy of a country cannot be judged by the rise and fall in the stock market,” said a student.
Strong human resources
A few of them suggested that the youth power of this young nation would play a vital role in the post recession period. They felt that the human resource of the country is very strong and dynamic and should be utilised to build a stronger India in the post recession period.
A participant declared, “We have to believe and make others believe that we are not in the recession and should take the present global scenario as experimental learning and a challenge to build our own infrastructure”.
A few of them pointed out that the industries might have slowed down to reduce the cost but none of them have gone for mass retrenchment and none of the banks have closed down, like that of those in the US. This they stated was a clear indication of India’s position in the market. They felt that this was the right time for India to strengthen its infrastructure and human resources and bring under its fold the countries that have been dependent on the US for so long.
P.N.V.K. Santosh Kumar was the pick of the participants and his suggestions and views were taken by all. He pointed out that the country should do a SWOT analysis, to neutralise its weakness and threats and convert its strengths to opportunities. He felt that India’s strength in IT, ITES and BPO should be converted to opportunity. “Given our strength in the fields, we have to transform ourselves from a mere outsourcing country to a product development nation,” he said.
The students who participated were B. Nagesh, Vinay Toshniwal, P. Haritha, D. Ayyappa, G. Anita Kalyani, K.V.S. Rahul, P. Tanuja, S. Pushkal, A. Kamesh, Savitri Majhi, B. Deepak Kumar, P. Rama Devi, D. Ramni, M. Jagadish, K. Vanitha Kumari, P.N.V.K. Santosh Kumar, Amita Mamgai and Jinendna Kumar Mishra. A faculty member Jayasree moderated the group discussion.
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