6th Law, Economics, and Policy Conference (LEPC) Successfully Hosted in Pune by the Gokhale Institute of Politics and Economics and the Institute for New Economic Thinking (INET)
Pune – The Gokhale Institute of Politics and Economics, in partnership with the Institute for New Economic Thinking (INET), successfully hosted the 6th edition of the Law, Economics, and Policy Conference from 16th February to 18th February 2024, in Pune. The conference served as a dynamic platform for robust discussions and insights that are poised to shape global policy and academic discourse.
The conference featured a keynote address by Nobel Prize winner and distinguished American economist Dr. Michael Spence, who delivered a thought-provoking address on the implications of artificial intelligence surpassing human capabilities. Dr. Spence highlighted the need for regulatory frameworks tailored to the needs of different countries and industries in the face of advancing AI technologies.
The key dignitaries who illuminated the LEPC conference with their prestigious presence and insights included Rob Johnson, President, INET; Rohinton P. Medhora, Chairman of the Board, INET; Dr. Anand Deshpande, Managing Director, Persistent Systems; Justice Manish Pitale, Judge, High Court of Bombay, Prashanto Chandra Sen, Senior Advocate, Supreme Court of India; Shri Jayant Singh, NITI Aayog; Dr Ganesh Natarajan, Executive Chairman & Founder, 5F World; Aromar Revi, Director, Indian Institute for Human Settlements (IIHS), amongst others. These eminent personalities contributed to the discourse with their perspectives during various panel discussions held around Technology and Policy; Emerging Markets in a Turbulent World; Legal System Reform; Learning to Live with Global Warming and Subnational Public Finance, etc. during the three-day power packed conference.
During his remarkable address, Prof. Michael Spence stated, “The past two decades have seen major global changes. The pivot towards sustainable energy, along with advancements in medical sciences due to technology, has expanded scope and reduced costs. Asia has emerged as the center of the world economy, and we have witnessed a massive digital revolution, particularly in India, which can be adopted by other nations, too. India is particularly well placed for growth with an expanding economy and a young workforce. If propelled by strong employment generating initiatives, the country can grow at 7-8% in the coming years”.
Dr. V. Anantha Nageswaran, Chief Economic Advisor to the Government of India, delivered a session on the role of economic policy in addressing emerging market vulnerabilities.
The conference featured engaging panel discussions on various critical topics, including the future of work in a digital age, the intersection of law and technology, and innovative financing mechanisms for sustainable development.
The conference was preceded by the 84th Kale Memorial Lecture, which also inaugurated the conference. Dr. Spence and Dr. Nageswaran’s lectures underscored the importance of understanding and harnessing AI’s capabilities while ensuring ethical and responsible development, as well as the role of economic policy in shaping the future of emerging markets.
In his remarks, Dr. Ajit Ranade, Vice-Chancellor, Gokhale Institute of Politics and Economics, discussed shifting dynamics of global economic power, particularly highlighting Asia’s resurgence. He stated that initially, Europe led with the industrial revolution, followed by America’s rise in the 20th century. However, the last quarter of the previous millennium saw Asia’s economic share diminish, only for it to rebound significantly, showcasing a major shift in global economic influence. “This resurgence, however, hasn’t been mirrored in political power, leading to turbulence due to the disconnect between Asia’s economic and political influence.” he said.
The conference provided a unique platform for diverse perspectives to converge, fostering dialogue and innovation in addressing global challenges. The 6th Law, Economics, and Policy Conference and the 84th Kale Memorial Lecture exemplify the commitment of the Gokhale Institute of Politics and Economics and INET to advancing knowledge and policy in a rapidly evolving world.
Dr. Ajit Ranade, Vice Chancellor of GIPE and Sunanda Nair- Bidkar who heads South Asia for INET closed the three-day conference.