Finance Conference "Samriddhi '07" Held at Goa Institute of Management

Finance Conference "Samriddhi '07" Held at Goa Institute of Management

"There are two types of movements in the market: one is physical movement of the money, i.e., selling, and the other is information impact on the sales." Mr. C. J. George, Promoter MD of Geojit BNP Paribas Financial Services Ltd., emphasizing on the importance of information added that markets are driven by globally integrated

sentiment, which is why if NYSE grows by 5%, NSE grows by 10% all based on sentiments. He also stressed upon market volatility in the context of the Indian markets which has increased with global integration.

"The only thing that can hinder India's growth is poor infrastructure. If infrastructure cannot be developed, the growth rate will stay at 7-8% only as against the requirement of 15%," said Mr. S. Subrimanian, Head of Investment Banking at Enam Secirities Pvt. Ltd. Addressing the gathering at 'Samriddhi', he wanted to stress upon the fund requirement in India to attain the 15% GDP growth.

Mr. M. Balachandran, former CMD, Bank of India, who was also present on the occasion, spoke openly about the hindrances that were stopping India from becoming the third best in PPP (Public Private Partnership), the best indicator of growth. He stated "infrastructure, bottlenecks, bureaucracy and investments" as the main impediments.

"Not only in terms of capital, but also the ability to reach. Unless we grow, we wont be able to compete globally," was one of the most assertive statements made by Ms. Lalita Gupte, the Chair Person of ICICI Ventures and former Joint Managing Director, ICICI Bank, who went on to categorically state that one of the main challenges facing the Indian banking sector is the implementation of the Basel II norms. She added that, "The convergence of Indian accounting standards with world accounting standards is very important because it will make easy implementation of Basel II norms."

Samriddhi 2007 is the latest in the series of initiatives from the students of Goa Institute of Management to foster closer ties with the industry. These conferences also provide a platform for students to interact with luminaries various sectors.

Concluded.

Contributed by -
Student Public Relations Cell,
Goa Institute of Management, Goa.

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