The government’s goal to get to a $5 trillion economy by 2024 is ambitious yet feasible. However, to reach this goal would require adept policy making to achieve an annual real GDP growth rate of 8% along with skillful exchange rate management. It would not only make India the 4th largest economy globally but also provide its citizens opportunities to meet their growing aspirations
The path to this milestone is strewn with a multitude of challenges and uncertainties, especially in view of deteriorating global economic conditions, and slowdown in the domestic economic activities. The policy makers will need significant dexterity in navigating this path in view of these headwinds. In particular, getting access to large financial resources in the form of risk capital, either from domestic or international sources, is essential to accelerate the investment rate required to meet the target GDP growth. The cost of capital, risk aversion of banks, low consumer confidence, fiscal pressures, adverse agricultural terms of trade, etc. are some of the issues that need immediate policy response (including structural reforms) to help garner resources to meet the planned investments in infrastructure as well as to spur private investment
On the positive side, the current industrial slowdown is forcing companies to cut costs and improve their operational efficiency, which will improve their competitiveness and in the process weed out weaker firms, thereby contribute to the growth momentum in the future.
What are the imminent issues that need addressing to reverse the declining growth trend? What policy responses are required to meet these challenges and set the course for accelerated economic growth in the country? Are the problems of the banking sector a drag on investment? How important are structural reforms and what is holding these back? These are some of the issues that the conclave will discuss and debate.
Theme: Getting to $5 Trillion: Navigating the Financial Landscape
The conclave will have a formal inauguration followed by discussions in two subsequent tracks. Interactive student workshops would be conducted in the second half of the day. Undergraduate and Post Graduate student contests shall be run before the conclaves.