FEARS OF GLOBAL RECESSION AND IMPACT ON INDIA Talk FRIDAY, 6:00 PM - 7:30 PM AUG 26 MMA MANAGEMENT CENTER CLICKTOJOIN 2022
t h e lp a t f o r m
The monetary policy committee of the RBI which met between 3rd and 5 August, recommended a repo rate increase of 50 basis points, taking the rate to 5.4 percent. The RBI has promised to remain focused on withdrawal of accommodative stance to observe inflation, and expects inflation to come down to 5% by the end of the year. The rupee depreciation against the dollar over the last few months has been about 4% as against the appreciation of the dollar by about 8% against a basket of currencies-- indicating a more stable management of the rupee.
As long as external conditions do not deteriorate further, a real growth of 7.2% is very likely. At the same time, the progress of the south west monsoon and the resultant kharif sowing, especially of rice, needs to be watched.
Depreciation in the rupee has been caused by global factors rather than by an inherent weakness in the currency-the global financial and trade picture remains volatile, with a number of risk points emerging. India is vulnerable due to high import dependency on oil as well as coal. Going forward, a slowing down of the global economy is likely to affect exports of goods as well as services, and the rupee is likely to be under pressure for some time. At the same time, there is robust growth in consumption, PMI is at a high, as also capacity utilisation. Growing demand for capital goods is indicative of fresh investment activity. These indicators are leading to continued interest in the equity and debt markets, lending some stability to the rupee. Sovereign overseas debt is only about 26% of total external debt, with a substantial proportion from international institutions. Private external debt is likely to settle when due, or rolled over, given the robust growth in the economy.
6:00 PM 7:25 PM Address by the Speakers followed by discussion Q&A Session Welcome & Opening Remarks Overview Vote of Thanks Dr S Narayan, IAS (Retd) Former Economic Advisor to Prime Minister & Finance Secretary, Government of India Mr Ravichandran P President - India Region, Danfoss Industries Pvt Ltd Mr Raghuvir Srinivasan Editor, The Hindu Business Line Mr N Sathiya Moorthy Convenor, Policy Matters Chennai Share your questions by SMS/Whatsapp to 98401 23906 5:15 PM Registration & High Tea Gp Capt R Vijayakumar (Retd), VSM Executive Director, Madras Management Associationp r o g r a m m e Mr K Mahalingam Senior Vice President, MMA & Partner/Director, TSM Group of Companies
Dr Narayan has single authored two books, edited two books and written numerous policy papers, reports and book chapters. He also writes regularly in newspapers, both locally and internationally on issues relating to Public Policy, Governance, Public Finance, Trade and Energy. He has been the visiting Senior Research Fellow at the Institute of South Asian Studies, National University of Singapore since 2005.
p r o f i l e
Dr. S. Narayan (IAS, 1965 batch), with nearly four decades (1965 to 2004) in Public Service in the State and Central Governments, in Development Administration, was the Economic Adviser to the Prime Minister during 2003-04. Prior to this assignment, Dr. S. Narayan served the Government of India as Finance and Economic Affairs Secretary, Secretary in the Departments of Revenue, Petroleum and Industrial Development. Dr.S.Narayan obtained his Ph.D from the Indian Institute of Technology in New Delhi. He has an M.Phil (Development Economics) from Cambridge University and Master of Business Management (Finance) from the University of Adelaide. He graduated with an M.Sc (Physics) from the University of Madras (Madras Christian College).
Dr S Narayan
RaviisPresidentDanfossIndustriesPvtLtda100%subsidiaryoftheLeadingfamily-owned DanishMNCDanfossA/sHQinDenmarksince2013.
ossisaworldleaderinMobileHydraulics,Electrification,CoolingandRefrigeration, sandDistrictHeatingtechnologies. tothisrole,RaviwasheadingDanfossMotioncontrolsbusinessAsiaPacificcovering esswhichinclSouthAsia,Korea,Japan,AustraliaandNZ.HehasbeenwithDanfoss
2002andpriortothatwithSiemensinIndia,Germanyinvariousrolesrangingfrom &Marketing,Strategy,GeneralmanagementandM&A.
He is an active member in Industry bodies, was Chairman of CII Chennai in 2014-15 and Chairman CII Tamilnadu 2017-18. He currently chairs CII Food and agriculture center of Excellence task force on Cold Supply chain logistics and chairs CII Green building center Energyefficiencycouncil. RaviwasthePresidentofMadrasManagementAssociationforyear2020-21
p r o f i l e Ravichandran P
s also Member of Global management team, Board member and Global Mentor since 2013. Has been active in Energy and water, Food and Agri, Technology space supportingandmentoringseveralearlystagestart-upsinIndiainvariousroles. RaviworksextensivelyintheareaofCooling,Energyefficiency.Decarbonizationandfood lossareasandrepresentsseveralthoughleadershipinitiatives.
Foreign and Commonwealth Office in 2000. He spent a semester studying journalism at the University of Westminster, London.
As part of the scholarship, he interned at The Economist in London, which published three of his articles. In 2010, he won the prestigious Thomas Jefferson Fellowship of the East-West Center, Honolulu, Hawaii, U.S.A., which is awarded to a journalist each from select Asian countries.
He was Business Editor of The Hindu before he took over as Editor of Business Line in September 2020. Raghuvir is an avid watcher of the economy and tracks the automobiles and energy sector, among many others, closely. He has written several editorials over the years on the economy, markets, central banking etc. apart from analytical articles on selected companies and comment pieces in the editorial pages of Business Line and The Hindu.
Raghuvir Srinivasan, Editor, Business Line, is a chartered accountant and cost accountant with 28 years of experience in journalism, all of them in The Hindu Group.
p r o f i l e
Raghuvir began his journalism career in Business Line as a research analyst joining the newspaper when it was launched in 1993. He was awarded the Chevening Scholarship for Young Journalists by the British’s government’s
Fifty-four-year-old Raghuvir is a Fellow of the Foreign Press Center, Tokyo, Japan.
Raghuvir Srinivasan
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