On 9 August 2016 with Mr Debasish Mallick(Deputy Managing Director of Export- Import Bank of India). Mr Mallick has nearly three decades of experience in the Banking industry, in the areas of Corporate Banking, International Banking, Resource Mobilization, Treasury and Retail Banking among others.He is working towards arriving at optimising financial solution in Development Finance, Project Finance and Banking , through a meaningful marriage of Capital market and Banking.
He began with an overview of the Indian financial structure and a brief outlook of the world economy.He said that the world economy is on the cusp of a major change , as far as role of governments in economy is concerned.He explained as to how the Keynesian Economic Model, of the governments investing in public infrastructure to tackle recession and boost economy was again gaining currency among the economists , as the easy money policy of Central Banks of buying back bonds from the public , pushing demand and hence private investment(as advocated by Milton Friedman of Chicago School of Business), had failed to deliver.
He explained the reasons behind the exit of Britain from the European Union and debated on it’s repercussions on the British and world economy , since London is financial centre of the world.He also mentioned the implications of Brexit on the Indian economic landscape.
He spoke on the effects of the formation of International Trade blocks like NAFTA(North American Free Trade Area) and TPP(Trans Pacific Partnership) on the developing countries in particular , against the backdrop of economic liberalization movement the world had seen under the aegis of WTO(World Trade Organization).He touched on the various steps the Indian government is taking to negate the effects of the formation of such trade blocks on it’s own economy.
He signed off , advising the students to work diligently to develop skill set,not only to make themselves employable in a difficult job market which the world expects to see in coming years, but to be harbingers of positive change in their areas of endeavour.