Amity University Mumbai organized an International conference focusing on building up self-Reliant India amid Covid 19 pandemic
Mumbai : Amity University Mumbai organized a two day international conference on 22th and 23rd December. The topic of the conference was Building a Self-Reliant India – Convergence of Innovative Practices. The conference was inaugurated by Vice Chancellor Lt-Gen.(Retd) V.K. Sharma and Pro Vice Chancellor Dr. A.W. Santhosh Kumar.
The purpose of the conference was to understand how Covid-19 pandemic affected the global economy and how the world is coping with it by implementing the innovative practices.
There has been a chain effect on income inequality intertwining the economic resources and operating businesses between countries. This situation has caused due to divergence of profitable businesses in geodemographic segments, benefiting a selected stratum of the society. The business divergence with a combination of technological change, global disintegration, domestic regulation, and immigration laws has been driving major changes in business and economy across the countries resulting in pressure of widespread economic insecurity.
Under this broad area various sub themes were discussed like Banking, Financial Management, Inclusivity in Management, Trade and Economy, Paradigm Shifts in Business amid pandemic, Media, Society and Development and Global Business Scenarios.
Speaking at conference on first day the Keynote Speaker Mr. Song Kouk Thong Deputy Director; Centre of Institutional Analysis and Development, INTI International University, INTI College Nilai, Malaysia, threw light on how Malaysia dealt with Covid-19 crisis and what were the major challenges on its way. According to him, one of the biggest changes that happened due to the pandemic was in the education sector. The entire education system went online. But it was not as easy as it looks as there were many bottlenecks there. His topic was “Survival of the industries in Malaysia during the Covid-19”, where he highlighted that many organizations had to change their existing strategies as well diversify their businesses to sustain themselves during this crisis.
The other session was focused on how technology in the banking sector can contribute to the development of the economy. Distinctive technological solutions and an ability to rapidly adapt gives companies a competitive advantage. Embracing futuristic technologies has gained significant momentum across the banking and financial sector as well. Streamlining services for the customers along with system upgrades in terms of tech deployments are rapidly gaining acceptance. The banking industry in India is geared up for a transformational space with the implementation of advanced technologies such as applications of Artificial Intelligence (AI), Machine Learning (ML), Blockchain and Robotics.
In one of the sessions Paradigm Shifts in Business amid pandemic has been discussed. With the pre-eminence of the Asia Pacific region, the focus has shifted from the western countries to developing economies in Asia. India with its large & young population can make enormous contributions in the global economy. The success story of India is attributed to the growth potential which was possible with the support of the government through schemes like “Atmanirbhar Bharat” or the concept of ‘Make in India’ and the encouragement of entrepreneurship or start-up culture. The political vision & support is essential for any development & encouragement. The global pandemic may have aided in hastening the focus to the Asia-Pacific region including the Indian sub-continent. No sector is left untouched, each organization in which every sector has tried to cope up with the resultant consequences of pandemic & lockdown like situations. A review on the changing scenarios in the sectors like e-commerce, travel & tourism, banking & cashless economy and education was presented.
The conference also discussed Post Covid Global Business Scenarios, focused on the global business environment and its problems. It also includes many areas of international commercial activity, international commerce, and global economic development techniques. The worldwide business has increased dramatically as a result of information technology. Researchers also look at the global supply chain and its influence on transnational enterprises and organizations during Covid- 19.