The Internal Quality Assurance Cell (IQAC) in collaboration with School of Tribal Culture, Philosophy, and Eco-spiritualism (STCPE), KISS-DU organized the 3rd distinguished invited lecture on “India as a Global Economic Power” on 23rd April 2024 under the banner of Viksit Bharat @2047. Professor Satya Narayan Misra, KIIT School of Management, KIIT Deemed to be University graced the occasion as the distinguished speaker. Professor Deepak Kumar Behera delivered the Welcome Address and drew a connection between the topic and Viksit Bharat. Dr. Ratnakar Mohapatra, Dean School of Tribal Culture, Philosophy and Eco-spiritualism introduced the esteemed speaker and highlighted some of his significant achievements.
Speaking on the relevance of Viksit Bharat @2047 and how India is emerging as a global economic power, Professor Misra said that “The year 1991 was a watershed year globally and also in India. With fall of the Berlin wall Fukuyama wrote the era of free market and liberal economy. India believes in liberal economy and the Service Sector is doing well”. He was appreciative of the fact that our shares have doubled in the world economy and even during the Covid-19 pandemic the FDI did not come down. Professor Misra added that the female labour force participation has increased to 37 percent. Sharing the success of some of the public policies like GST, Bankruptcy Law, trinity of Jandhan, Aadhar, mobile and digitization or formalization, he added that nothing happens by accident of history but by framing conscious policies.
Furthermore, he was of the opinion that there exists a very promising situation about GDP and unemployment is a real gray area. He talked about challenges like long-term human capability, manufacturing and unemployment. He emphasized on human development as well. Professor Misra informed the participants that India is a medium developed country with a score of 65, with 6 thousand dollars. Mean years of schooling, life expectancy. Manufacturing is a problem area, he added.
Expressing concern, he added that there is a real mismatch between growth and employment. Six important missions; labor-intensive production, improve quality of jobs, overcome labour market inequality, provide effective skills, create productive non-farm employment and support small and medium enterprises. He acknowledged that India has fared very nicely in two areas drinking water and electricity. He lamented about the uncomfortable fact of concentration of wealth. The interaction session witnessed keen participation and Professor Misra answered the queries of the participants pertaining to the key factors of the Indian economy. He concluded the session by suggesting that India should support small and marginal farmers.
The session concluded with a Word of Thanks by Dr. Rudra Narayan Mohanty, Political Science Programme, STCPE, KISS-DU to the esteemed speaker and the participants.
