Is the Economy Moving Forward? Global Webinar

Blog Summary

The Firebird webinar on February 12, 2022, aimed to equip students with insights into the dynamic Indian economy and future challenges. India, currently the sixth-largest economy, is projected to become the third-largest by 2030. The event featured esteemed speakers, including Mr. K. Annamalai, Dr. Parin Somani, A.K. Narayan, and Mr. B. Govindarajan, who shared expertise in finance, investment, and economic trends. Discussions covered India's employment growth, foreign exchange reserves, and economic recovery post-pandemic. The session provided valuable knowledge on financial literacy, wealth management, and economic policies, ensuring students are well-prepared for the evolving economic landscape.

12TH FEBRUARY 2022 AT 4 PM

Objective of the Webinar

Firebird has the distinction of experimenting an industry oriented curriculum and with the intention of keeping the students abreast with the current happenings in the highly volatile economy, this webinar is organized. This equips the students with the understanding of what is awaiting them in the future and how to be prepared to face it.

Indian Economy

With its robust democracy and strong relationships, India has emerged as the world's fastest growing major economy and is anticipated to be one of the top three economic powers in the next 10-15 years. Currently, India is the sixth-largest economy, behind the U.S., China, Japan, Germany and the U.K. India is forecast to grow at 6.5 per cent in fiscal year 2022, a decline from the 8.4 per cent GDP estimate in previous financial year, and while the country's economic recovery is on a "solid path" amid rapid vaccination progress, coal shortages and high oil prices could put the brakes on economic activity in the near term.

India is likely to overtake Japan as Asia’s second-largest economy by 2030 when its GDP is also projected to surpass that of Germany and the U.K. to rank as the world’s No.3, IHS Markit said. According to provisional estimates for the first quarter of 2021-22, India's gross domestic product (GDP) at current prices was Rs 51.23 lakh crore (US$ 694.93 billion) in the first quarter of FY22. Hurun Global Unicorn List reports India has the world's fourth-largest unicorn population, with over 21 unicorns worth a total of $73.2 billion. According to the Nasscom-Zinnov report 'Indian Tech Start-up,' India will have 100 unicorns by 2025 and will create 1.1 million direct jobs.

According to the McKinsey Global Institute, India needs to raise its rate of employment growth and create 90 million non-farm jobs between 2023 and 2030 to boost productivity and economic growth. To attain 8-8.5 percent GDP growth between 2023 and 2030, the net employment rate must increase by 1.5 percent per year. According to figures from the Department of Economic Affairs, India's foreign exchange reserves reached US$ 633.5 billion on August 27, 2021.

India has made remarkable progress over the past two decades in accelerating economic growth and making a dent on poverty. Improving social policy delivery and targeting it better are now fundamental challenges to heal the scars left by the pandemic. Even during the crisis, the authorities have launched structural reforms that could boost potential growth, create better jobs and make it possible to achieve the Sustainable Development Goals. This momentum must be extended into other policy areas, such as sustainable energy and competition, and maintained in a spirit of open dialogue with all stakeholders, including independent civil society organisations.

THE GALAXY OF GUEST SPEAKERS

Mr. K. ANNAMALAI – GUEST SPEAKER

Managing Director - Annamalai Capital Services Ltd, Coimbatore

Annamalai Capital Services (P) Ltd., (ACS) is promoted by Mr. K. Annamalai, a thorough professional in capital Market and corporate consultant, have 35 years of experience with an engineering company and also in financial market analysis. Founder member of Coimbatore Stock Exchange Ltd, he also served as Treasurer, Vice-President and President of Coimbatore Stock Exchange Ltd. He has visualized the growth of commodity trading during early as a stock market professional and grabbed the opportunity to obtain memberships of Commodity Exchange in India.

ACS is a member of Multi Commodity Exchange of India Ltd (MCX) one of the premier commodity exchanges in India and National Spot Exchange Limited (NSEL). He is also a visiting Faculty for many BUSINESSES SCHOOL handling investment management, online trading, valuation tech- fundamental / tech analyses and

addressed more than 100 investors through awareness program. ACS is a Business & Associate of AXIS SECURITIES LTD [owned by AXIS BANK] for equity trading and research. Within a short span, ACS has grown into a premier broking house in India with vast branch network and clientele.

GUEST SPEAKER

Dr. PARIN SOMANI

Dr. Parin Somani is an Independent Academic Scholar, Educator, International Motivational speaker, Author, Writer, Humanitarian, Philanthropist and Multi-International Award Winner. Dr. Parin Somani has achieved Six Doctorate degrees namely: Doctor of Philosophy (PhD): Education Media; Doctor of Philosophy (PhD): Education Leadership; Honorary Doctorate (Hons Causa) in Humanities; Two Honorary Doctorate (Hons Causa) degrees in Literature D’Litt; Honorary Doctorate (Honoris Causa) in Global Education. Dr Parin Somani has also been recognised Five times in the World Book of Records. With the aim to help global societies in the field of Education, Women Empowerment and Youth Development Dr. Parin Somani has travelled to more than 87 countries around the world.

Dr. Parin Somani is a renowned Academician and holds a Scholarly position within various international

universities including: Syndicate Member: St Mother Theresa University; Visiting Resource person: UGC: HRDC Gujarat University & Saurashtra University; Courtesy Research Associate: Florida International University and many more. In addition to her designated positions within academic institutions Dr Parin Somani is also affiliated with numerous NGOs creating positive global change.

Dr. Parin Somani has Published more than 38 educational papers, newspaper articles, magazine articles, 15 books and holds 2 Patents. Dr. Parin Somani is featured in more than more than 100 videos and 177 newspapers. Dr. Parin Somani has received the Queen League Golden Award 2022, Winner of Mrs India 2021, Winner of Mrs Universe International 2021, Winner of Mrs Brit Asian 2021, Winner of Mrs India Global 2021 and 2nd Runner up of Mrs Queen of India 2021.

GUEST SPEAKER

A.K. NARAYAN

Financial Consultant & Founder – AK Narayan Associates, Chennai

A.K. NARAYAN ASSOCIATES founded by A.K. Narayan, Chartered Accountant specializes in comprehensive Financial Planning. He has over 2 decades of Industrial Experience, in Corporate Finance & Top Management. He is the former 'CEO' of a large leather group in Chennai. He was the Past President of Tamil Nadu Investors Association for 15 Years. Also Past President of IFA Galaxy, group of Financial Advisors for 3 Years. He was the Publisher and Editor of Tamil Nadu Investors Associations Investors Digest for 15 Years.

He has over 3 decades of Experience in Capital Market. Since 2004, he has been serving as a Member - Committee of Investor Education and Protection Fund, Government of India, Ministry of Law. Served as a Member, SEBI Investor Protection Fund. For over a decade Mr. A. K. Narayan served as a Trustee - Investor Protection Fund & National Stock

Exchange, Mumbai. Also served as a Trustee - Investor Protection Fund, Madras Stock Exchange. He has also Served in many Committees Constituted by SEBI. He has also served in many other SEBI High Powered Committees. Also, served as the Member of Advisory Council Constituted by Few Mutual Fund Houses. Member - LIC - Zonal Advisory Board (South). He has addressed more than 900 Financial Literacy and investor programmes across the Country.

GUEST SPEAKER

Mr. B. GOVINDARAJAN

Certified Financial Planner & Founder – Partha Wealth Ltd, Chennai

Mr. B. Govindarajan is the Founder of Partha Wealth, Chennai. He is a Certified Financial Planner and member of Financial Planning Standards Board (FPSB) and has been associated with Chola Wealth of Murugappa Group as AVP for South, North and West and as Principal Officer with long and impeccable track record. Prior to it, effectively enhanced the Fixed Deposit market share in North for Chola Finance. He has exclusive skills in wealth management, and has a proven track record of managing portfolio of clients from various locations with passion and integrity for more than 25 years.

The collective wisdom and experience is now translating into his own wealth management start-up to make its presence felt in India’s still under-penetrated financial market. He also assists in Financial advisory, insurance, wealth management, retirement planning, financial planning, health and life insurance services.

DR. P. SHRINIVAS RAO

DIRECTOR, FIREBIRD

Dr. P. Shrinivas Rao is a proficient professional with 31 years of experience in carving academic institutions through technology and strategic planning right from inception, covering various functional areas like academic administration, power branding, and integrated campus development. He spent his preliminary career with multinational corporations and started his academic journey in the mid of 1990.

He was a vice president and CEO in reputed intuitions with International collaborations, Dean of the first global MBA program in India, Coordinated academic exchange programs, attended many global summits and conferences in the Indian School of Business, BHU, IIFT, XLRI, IIM Kolkata, IIM Bangalore, IIM Ahmadabad, MDI Gurgaon and leading institutions and universities of the country.

Dr. Shrinivas has spent his last 31 years as a Regional Head in the corporate sector,Principal, Vice-President, Dean, Director, Director-Technical campus, Executive Dean for both general and technical institutions with a particular focus on integrated development. Some of the research areas of concentration are work-life balance, managing transfer of knowledge, crisis management, learning organizations, the impact of motivation, service marketing, tourism services. His current interest is in mentoring millions of students using technology in education and social media platforms and resourcing the right education inputs to the country’s young minds. Toward this excellent initiative, the Mission Mentors group has conceived.

Dr. Shrinivas is the founder and CEO of Mission Mentors. His academic credentials include MBA in Marketing, MBA in HR, and Ph.D. in management, currently working as The Director of Firebird International Business School, Coimbatore, India.

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