Newsletter: February 2023
L to R: Dr. Vijay Kelkar, Vice President, Pune International Centre (PIC); Hon. Mr. Ibrahim Ameer, Minister of Finance, Maldives; Hon. Mr. Lyonpo Namgay Tshering, Minister of Finance, Royal Government of Bhutan; Hon. Dr. S Jaishankar, External Affairs Minister, Government of India; Dr. R A Mashelkar, President, PIC; and Amb. Gautam Bambawale, Convener, AED 2023, at the inaugural session of the Asia Economic Dialogue (AED) 2023 in Pune
Dear PIC Member,
The Asia Economic Dialogue 2023 international geo-economics conference, with participation by an impressive array of 40+ speakers from 12 countries, was the top highlight of the events organised by the PIC in February 2023.
A collaborative event with the Ministry of External Affairs, this was the 4th AED organised by the PIC. The event was held on a grand scale at the JW Marriot Hotel, befitting an international conference of repute, and this time, extensive support was received from PIC’s institutional partner, MCCIA (Mahratta Chamber of Commerce, Industries and Agriculture), in helping manage the logistics for the event.
The other prominent highlights in February included the launch of PIC’s second book, India’s Pathways to Success: Winning in the Next Decade, in Pune and New Delhi; a panel discussion on the Union Budget 2023 chaired by Dr. Ajit Ranade; and the EECC (Energy, Environment and Climate Change) research vertical’s YouCAN Environment Fest.
Please find details below and YouTube recordings on the PIC website.
PIC member Mr Cherian Matthai has contributed this month’s book review (No. 18) on the ‘Pathways’ book, giving insights and perspectives on the volume authored by PIC members.
In addition to conducting these events, the PIC secretariat has been busy with follow-up meetings on its campus development at Pashan and planning for future programmes and initiatives.
We look forward to your participation in PIC’s future events and initiatives.
Your valuable feedback and suggestions are always welcome!
Abhay Vaidya
Director
Pune International Centre
Inside this Newsletter
A. Review of Programmes: February 2023
- Book Launch: India’s Pathways to Success: Winning in the Next Decade
- Panel Discussion on Union Budget 2023
- EECC’s YouCAN Environment Fest & Round Table on Youth Manifesto
- Asia Economic Dialogue 2023
B. New Research Papers @ PIC
C. Recent Writings in Media by PIC Fellows and Members
D. Book Review/Summary: No. 18
- India’s Pathways to Success: Winning in the Next Decade
A. Review of Programmes: February 2023
February 2: Book Launch –India’s Pathways to Success: Winning in the Next Decade
L to R: Mr Abhay Vaidya, Dr. Ganesh Natarajan, Dr. Raghunath Mashelkar, Dr. Abhay Firodia, Dr. Vijay Kelkar and Dr. Ejaz Ghani at the book launch event in Pune
On 2nd February 2023, Pune International Centre (PIC) launched its second book, India’s Pathways to Success: Winning in the Next Decade. The launch event was held at Navalmal Firodia Auditorium, Bhandarkar Oriental Research Institute.
Dr. Abhay Firodia, Chairman Force Motors Limited, was the chief guest. PIC’s President Dr. Raghunath Mashelkar, Vice President Dr. Vijay Kelkar, and a large number of people were present on the occasion.
The editors of the book, Dr. Ganesh Natarajan and Dr. Ejaz Ghani, and co-authors Dr. Uma Ganesh, Dr. Harsha Vardhana and Mr. Ravi Pandit made presentations about the contents of the book.
Dr. Firodia spoke about the dangers of communalism and capitalism and said that the country has to work towards providing quality primary education, entrepreneurship and moral values in order to improve this situation. “We must also work to eliminate corruption in the system,” he said.
Among the issues discussed were widespread access to quality primary education, increasing the number of entrepreneurs in the country, rapid development of Tier 2 and Tier 3 cities, increased savings due to the growing middle class, changing the country’s picture through digital economy, strengthening social harmony and increasing the participation of women in lifting the GDP to 9 percent.
The session concluded with a lively round of questions and answers, providing a platform for further discussions and debates.
Pathways book launch at MDI, Gurugram, New Delhi
Mr Kiran Karnik (L) and Dr Ganesh Natarajan (R) speaking at the ‘Pathways’ book launch at MDI, Gurugram
In February, Dr. Ganesh Natarajan led discussions on the book, India’s Pathways to Success: Winning in the Next Decade, at the India International Centre, New Delhi, and Management Development Institute (MDI), Gurugram, with panellists Dr. Uma Ganesh, Mr Kiran Karnik and Dr Harsha Vardhana Singh.
February 5: Panel Discussion on Union Budget 2023
L to R: Dr. Ajit Ranade, Prof. Shubhashis Gangopadhyay, Dr. Pradeep Apte and Prof. Partha Ray at the event
On 5 February 2023, PIC, in association with the Gokhale Institute of Politics and Economics (GIPE), organised its annual panel discussion on the Union Budget 2023. It was chaired by Dr. Ajit Ranade, Vice Chancellor, GIPE.
The panel comprised esteemed speakers such as Prof. Partha Ray, Director, National Institute of Bank Management; Prof. Shubhashis Gangopadhyay, founder and Research Director, India Development Foundation (IDF); Dr. R Kavita Rao, Director of National Institute of Public Finance and Policy (NIPFP); and Dr. Pradeep Apte, Professor Emeritus at GIPE.
The speakers comprehensively analysed and discussed the Union Budget, including its fiscal and monetary policies, taxation reforms, and implications for industry and citizens. The discussion also provided insights into future opportunities and challenges for the economy.
The discussion went beyond the Union Budget to cover topics like investments, startups and agriculture. The panel concluded by offering their thoughts and advice on how to optimise the utilisation of the Budget.
The lively Q&A session enriched the discussion with exchange ideas and perspectives.
Click here to watch the event on YouTube.
February 11: YouCAN Environment Fest & Round Table on Youth Manifesto
Clockwise from top left: Dr. Gurudas Nulkar, Trustee, Ecological Society, Pune; Shri. Rohit Pawar, MLA, NCP; Prof. Amitav Mallik, Head of EECC and Trustee, PIC; Poonam Mehta, Dy Commissioner, Pune Divisional Office; Madhav Jagtap, Head, Environment Department, PMC; and Ms Vaishali Patkar, founder, Aundh Vikas Mandal, with Team EECC members at the Environment Fest; Dr. Ajit Ranade, Vice Chancellor, Gokhale Institute of Politics and Economics, speaking at the event; audience interaction; debate competition on ‘Climate Dilemma’; cultural programme; and stalls at ‘Paryavaran Peth’
On February 11, PIC’s Team EECC (Energy, Environment and Climate Change) organised the ‘YouCAN – Youth Climate Action Network’ festival to urge politicians and government officials to take serious note of ‘India’s Youth Manifesto for Climate Secure Future’, prepared by Team EECC. The focus was on a Round Table discussion in the evening to identify a few Action Points.
The Environment Fest was a full-day event and featured ‘Paryavaran Peth’, where over 40 green businesses and entrepreneurs put up their stalls. EECC also conducted a college-level debate competition and organised a ‘Career Katta’, where experienced green business professionals provided guidance to the youth on career opportunities in Green Business.
The Round Table discussion was chaired by Dr. Ajit Ranade, Vice Chancellor, Gokhale Institute of Politics and Economics. On the panel were Mr Rohit Pawar, NCP leader; Ms Poonam Mehta, Additional Divisional Commissioner, Pune; and Mr Mahesh Jagtap, Head, Pune Municipal Corporation’s Climate Cell.
Prof. Amitav Mallik, Head of EECC, welcomed the participants and presented a quick review of the Youth Manifesto. Voter sensitisation, traffic congestion, pollution and GHG (greenhouse gas) emissions were among the issues discussed. Dr Ranade offered to help with young voters’ registration as a GIPE initiative.
February 23, 24 and 25: Asia Economic Dialogue 2023
L to R: Mr. N R Narayana Murthy, Founder, Infosys, and Dr. Ganesh Natarajan, Executive Chairman and Founder, 5F World; and Hon. Mr. Piyush Goyal, Minister of Commerce and Industry, Government of India, with Dr. R A Mashelkar, President, PIC, at the AED 2023 in Pune
The Asia Economic Dialogue (AED) 2023, with an impressive array of 40+ speakers from 12 countries, was the top highlight of the events organised by the PIC in February 2023. A collaborative event with the Ministry of External Affairs, this was the fourth AED organised by the PIC.
The event was held on a grand scale at the JW Marriot Hotel, befitting an international conference of repute, and this time, extensive support was received from PIC’s institutional partner, MCCIA (Mahratta Chamber of Commerce, Industries and Agriculture) in organising the event. We are grateful to Shri Prashant Girbane for taking the lead in this matter.
Convened by PIC Trustee, Ambassador Gautam Bambawale, the conference featured a number of ministers, ambassadors, corporate leaders, top serving and retired officials and academics as speakers.
The event received extensive coverage in the print, TV and online media and was trending on Twitter. PIC’s collective strength and collective effort was reflected brilliantly in this event.
B. Research Papers @ PIC
1. Industry 4.0: A Roadmap for India’s Global Leadership
By: Aravind Chinchure
Click here to read more.
2. Study of Emerging Patterns of Social Enterprises
By: Dr. Vishal Gaikwad, Mr. Mandar Joshi, Ms. Nupur Gandhe, Ms. Kanak Jaiswal
Click here to read more.
C. Recent Writings in Media by PIC Fellows and Members
Union Budget 2023 balances growth and fiscal constraints
The fiscal deficit target of less than 6 percent of expected GDP next year is reasonably restrained, although it could have been a more stretched target. Fiscal austerity is a must for several reasons.
Dr. Ajit Ranade, The Free Press Journal, 2 February 2023
Click here to read more.
BITE | Revving up the growth engine
Dr. Ajit Ranade among the top economists and experts discussing the key issues concerning the economy and how the finance minister could address them in the Union Budget.
India Today, 30 January 2023
Click here to read more.
Certainly, uncertainty has declined
Over the past year, global macroeconomic stability has improved, which sets the stage for good growth from 2024
Ajay Shah, Business Standard, 5 February 2023
Click here to read more.
CO2 arbitrage will make heroes
To avoid capital destruction, simulate a business model under a correct shadow price of carbon
Ajay Shah, Business Standard, 20 February 2023
Click here to read more.
D. Book Review/Summary @ PIC: No. 18
Title: India’s Pathways to Success: Winning in the Next Decade
Edited by Ganesh Natarajan & Ejaz Ghani
Publisher: Rupa Publications India
Year of Publication: 2023
Pages: 241
Price: Rs 695
India’s Pathways to Success: Winning in the Next Decade
Book Review by Mr Cherian Matthai
Decision Trees are used especially in Operations Research to help identify the strategy or pathway that has the highest probability of success. If the goal is the overall social and economic development of a complex country like India, it necessitates multiple solutions (and possibly multiple combinations of them). India is at a critical juncture and the world has changed dramatically over the last few years – and how successfully we navigate these turbulent times will determine how well we fulfil our goals. This book, through its series of essays by heavyweight intellectuals, gives us some of those pathways that will make India successful.
Edited by Ganesh Natarjan and Ejaz Ghani, the book has 9 essays (10 if you include Narayana Murthy’s foreword, which for its clarity of thought and suggestions can be included) by 14 eminent names from scholarly fields across academia, government and business.
The first essay, by Pradeep Apte, Ganesh Natarajan, Ejaz Ghani and Aravind Chinchure, takes a broad sweep at three pillars – Agriculture, Industry and Services, and what needs to be done in each of these areas to take India to the next level.
As India develops, its cities are expected to become larger, and with that comes increasing complexities. While looking at both urbanising and de-urbanising factors (such as the trend to Work from Home), Ejaz Ghani looks at the future of our cities and also brings in an important point related to designing and providing infrastructure for the informal sector to develop and flourish. In a related area, another essay looks at the future of mobility and sustainability in India, looking at intercity and intra-city solutions.
In the essay ‘Seamless Interconnect of Science, Technology and Innovation’, Raghunath Mashelkar details out the fact that scientific discoveries in India have mostly been driven by “mission-driven” research funded by the government (ISRO for e.g.). The author suggests 10 tenets (including a stronger IP regime, enhancing investment, leveraging our talent, etc.) to make India a more successful innovation centre, enhancing the R&D intensity and investment by the private sector in India.
Harsh Vardhana Singh, in his detailed, data-driven essay on ‘India’s International Trade Policy’, articulates the need for strategic clarity and the significance of looking at Trade and therefore Industrial Policy from a Global Value Chains (GVC) lens, focusing on key non-agricultural products and services.
Uma Ganesh and Shilpa Phadke look at how increasing women’s participation in future growth has become a necessity, especially if we want to take full advantage of our demographic dividend. Importantly, they discuss the fact that reducing inequity, while a great motive, should not be the only focus of our policies. Rather, we should create policies that look to unleash the “economic potential and outcomes” that the increased participation of women can generate.
Three other essays stand out for focus on the relatively “softer” aspects of development. First, the essay by Vijay Kelkar and Ajay Shah looks at how “Social Capital” and the increasing Trust via better (and less use of state capacity, especially state violence) can help positively drive public policy and reduce state failure. Looking at a similar vein, another essay by Ghani, Natarajan and Abhay Vaidya look at India’s intrinsic strength of being a multi-religious, multi-ethnic and multicultural society, and pathways to achieving social harmony, including important areas such as police reforms, and reducing conflict and social divisions.
Thirdly, Narayana Murthy’s foreword, while introducing the book, dwells on the importance of Culture (itself a Success Pathway) and how it is a foundation and bulwark to achieve our success. He mentions leadership by example and trying to imbibe the ideals of our founding fathers.
India is at a point at which the choices we make, the trajectories we choose and the contributions we make will have a lasting impact. This book gives us a possible roadmap for the future. Considering these pathways in the essays are not exhaustive and dynamics keep changing and where everything (including our favourite series) has a sequel, we can request PIC to make this a series where we can wait for the next season.
(Mr Cherian Matthai is a member of the PIC.)
