Date – 29th January 2016 11 : 15
Location – Grand Sala Hall, Cidade de Goa
Global Finance Panel
And finally, what difference has the emergence of Asia Infrastructure Investment Bank (AIIB) has and will make to the global financial system?
With an accelerating economic growth, India has already emerged as the world’s third largest economy. With the decreasing oil prices and favorable growth opportunities, Indian GDP is projected to accelerate to 7.2 percent in 2015 (IMF forecast). However, poverty in the region also remains very high. As per the World Bank report, 23.6% of the Indian population lives below $1.25 per day and approximately 21% of the population lives without electricity.
In the light of such facts, the panelists would discuss these topical motions
The roots of the Global Financial System grew from the structures that originated at Bretton Woods during the 1940s, with US at the helm. But, how over the course of 70 years this fully negotiated monetary order between the independent nations changed its dynamics? How did the financial integration of the world economies during the 1980s and 90s impact the hegemony of US? What should be the legislative, institutional and regulatory agendas to prevent another recession? What challenges can Euro expect in a system where the ‘monetary’ (controlled by the EU) and ‘fiscal’ (determined by individual nation-states) policies work to different and conflicting agendas?
Naseer Munjee, ex-president of Bombay Chamber of Commerce and Industry, currently sits on 9 Public Corporate Boards in India, which include HDFC, Tata Motors, Tata Chemicals, Tata Motor Finance Ltd. (Chairman), Britania Industries Ltd., Go Airlines (India) Ltd., Cummins India, ABB India Ltd. and Ambuja Cements. He is also Chairman of other Aga Khan Institutions in India – Aga Khan Rural Support Program (AKRSP) and Muniwar – Abad Charitable Trust (MACT). He has performed on numerous Government Task Forces on Housing and Urban Development including Infrastructure Development Finance Company (IDFC), which he was asked to come regarding the challenges India was facing in the infrastructure sector.
Dr. Nicholas Stern is the Chairman of the Grantham Research Institute on Climate Change and the Environment and Head of the India Observatory at LSE. Dr. Stern’s research interests lie in; the economics of climate change, economic development and growth, economic theory, tax reform, the role of the state and economies in transition and Public policy. He examines climate change from an economist’s perspective, and delineates the necessary steps toward achieving global economic development while managing climate change.
Urjit R. Patel
Dr. Patel, a graduate from LSE is an eminent economist, consultant and banker. At present, he holds the rank of Deputy Governor of the RBI. At RBI, Dr. Patel looks after Monetary Policy, Economic Policy Research, Statistics and Information Management, Deposit Insurance, Communication and Right to Information and he played an advisory function in the growth of the debt market, banking sector reforms, pension fund reforms, targeting of real exchange rate. He headed the expert Committee to “Revise and Strengthen the Monetary Policy Framework”. He functioned as a Consultant to RBI on deputation from the International Monetary Fund, providing advice on banking sector reforms and development of foreign exchange market.
Erik Berglöf is a Swedish economist and the current Director of the LSE Institute of Global Affairs (IGA) and treasurer of the International Economic Association (IEA). Formerly he was the Chief Economist and Special Advisor to the President of the European Bank for Reconstruction and Development. Berglöf is involved in broader development issues with a particular emphasis on emerging markets. He has launched “Transition to Transition” (T2T), designed to promote peer-to-peer exchange of transition and reform experience between senior policymakers and sector experts in EBRD’s current countries of operations and countries of the southern and eastern Mediterranean region.
Sam Pitroda is a telecom engineer, inventor, entrepreneur and policymaker. Mr. Pitroda launched the Centre for the Development of Telematics (C-DOT), and served as an advisor to former Prime Minister, Shri. Rajiv Gandhi on six technology missions. He served as chairman on the National Knowledge Commission (2005–2009), an advisory body, which gives policy recommendations for improving knowledge related institutions and infrastructure in the country. He was honoured with Padma Bhushan in 2010.
Nain Lal Kidwai
Ms. Naina Lal Kidwai is the current chairman of HSBC India. She was the former President of Federation ofIndian Chambers of Commerece and Industry (FICCI). Ms. Kidwai was the first Indian woman to graduate from Harvard Business School. Time Magazine named her as one of the 15 Global Influentials in 2002. Her interests include microfinance and livelihood creation for rural women and environment. For her contribution to trade and industry Ms Kidwai was conferred with Padma Shri in 2015.