A National Seminar was organized by Sanskriti Group of Institutions on 26th October, 2013 on FDI Issues & Challenges. Eminent speakers from Aligarh Muslim University, Dayalbagh University and Mahamaya Technical University spoke at length on the subject. The speakers dealt in details on the merits and demerits of FDI citing many examples.
Most of them opined that FDI must be welcome in a developing nation like India where there is huge requirement of development of infrastructure and employment. According to the speakers, India is not able to progress as much as it should have made by now because of paucity of funds. The fact is that in India around 60% of the population is below the age of 30 years and the productivity of the nation will increase manifold if this young generation can be gainfully employed with proper training and education.
Most of the speakers negated the notion that FDI in retail will drive away the kirana shops and result in huge unemployment. They clarified that formats of organized retail and unorganized kirana shops or mom and pop shops are totally different and the target customers of these sectors come from completely different strata of the society.
One of the speakers highlighted the fact that in USA, the country where the organized retail originated more than 75 years back, organized retail co-exist with mom and pop shops very well with areas and the target customers being distinctly different.
Mr. Sachin Gupta, the Chairman of Sanskriti Group of Institutions, stated in his welcome address that he is glad to find various distinguished speakers deliberating on a subject which is of national importance and plays a crucial role in contributing towards growth and prosperity of the nation.
Prof. P.C. Chhabra, the Executive Director of Sanskriti Group of Institutions, deliberated on the significant role of FDI in the present context and expressed his hope that the conclusion drawn from this seminar can be forwarded to the appropriate authorities for favorable consideration for implementation.
The faculty members and students of management courses were the key listeners and asked many relevant questions during Question and Answer session which were appropriately answered by the speakers.
The seminar ended after the Head of Management Department of the Sanskriti Group of Institutions proposed a Vote of Thanks.
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