Meghalaya joined 75 cities in the country today at the conference on the theme, “Creating Wealth through Market” organised by the Department of Investment & Public Asset Management (DIPAM) to celebrate Azadi Ka Amrit Mahotsav (AKAM).
IIM Shillong being one of DIPAM’s knowledge partners joined the conference virtually via video conferencing at its Umsawli campus.
Union Minister for Finance & Corporate Affairs Nirmala Sitharaman inaugurated the conference virtually from the Indian Institute of Science (IISc), Bengaluru.
In her inaugural address, Sitharaman spoke on investment and public asset management and said that the nature of public asset management had changed over time and post 2021 Budget announcement, a major directional change occurred, where except for the core areas, the presence of public sector in other areas were reduced.
“Young entrepreneurs are people who are creating lot of value in the market. If they take interest in telling what can be done better in public sector companies then Public Private Partnership can result in greater good of the country”, she added.
She said that a lot of start-ups are showing interest, contributing and partnering with ISRO in the area of space. “As a result of this even in areas like space, one could see a lot of start-ups coming in and wanting to contribute”, she said further adding that one can witness major collaborations between private and public sector investments in areas like Space and Technology.”
The public sector asset management and it’s contours have changed to yield better efficiency”, she further stated, while elaborating on the importance of ‘strategic disinvestment’. Companies that have been disinvested strategically are now giving better returns in terms of equity, better profits for stakeholders, she added. She further said that the principle in which disinvestment is happening now, is not to shutdown a unit but to prime it up and made it run efficiently.
Union Minister of State for Finance, Bhagwat Kishanrao Karad in his address further elaborating on the point of ‘disinvestment’ highlighted that it has become a people’s movement in the present times as many people are showing interest and taking part in the movement.
IIM Shillong Director, Prof. D.P. Goyal in his address spoke on topic of wealth creation and its various strategies. “The basic principle of wealth creation suggests that more the risk, more the profit”, he said.
He elaborated on the topic of investment and savings in the equity market and suggested measures for automation of investments by studying and understanding the market, starting investments and savings as early as possible and as a result making a bigger contribution to the development of the country along with the creation of personal wealth.
The inaugural address was followed by a session with eminent speakers comprising of academicians, financial experts, professionals, bankers, etc.
The event featured discussions on broad topics such as – Journey of Indian Stock Markets in 75 years and way forward, Deepening of Capital Markets and Successful Privatisation/ Transaction, Financial Inclusion in Rural Areas and Creation of Wealth, Financial Literacy- A road to Financial Well-being & Women as independent investors, Financial Awareness and Individual Investment in Capital Markets, Digital Banking Products & Opportunities in Indian Stock Markets (Technology Integration) and Retail Investor Wealth Creation.
The eminent guest speakers for the conference included Prof. Sharad Nath Bhattacharya, Faculty IIM Shillong, Tshering Diki, Chairman of Meghalaya Rural Bank, Sneha Kochar, Investment Advisor, Prof. Ambika Prasad Pati, Dean, SEMIS, North Eastern Hill University, Biswajit Saha, Govt & Bank Relationship National Payments Corporation of India, Tarif UL Ameen, Senior Vice President, UTI Mutual Fund.
Faculty, officers, staff and students of IIM Shillong, director of NIFT Shillong, Principal of IIHM and other reputed financial and educational institutions of Shillong attended the event among others.
