The Department of International Trade & Marketing (ITM)
Fashion Institute of Technology

Cordially invites you to its

FIT Economic Forum on India 2009

 

Thursday, October 22, 2009  -  From 1:30 p.m. until 5:30 p.m. John E. Reeves Great Hall - Fashion Institute of Technology Seventh Avenue at 28th Street, New York City
CLICK HERE TO VIEW FULL AGENDA
Featured Panels:
1. Growth opportunities for India:  Where do we go from here? India, the largest democracy in the world, with its consistent performance and abundant skilled manpower provides enormous opportunities for investment, both domestic and foreign. India is the fourth largest economy in terms of Purchase Power Parity and the tenth most industrialized country in the world. Major initiatives such as industrial decontrol, simplification of investment procedures, enactment of competition law, liberalization of trade policy, full commitment to safeguarding intellectual property rights, financial sector reforms, liberalization of exchange regulations etc., have been taken, which provide a liberal, attractive, and investor friendly investment climate.     Our esteemed speakers will speak about the rise of India as a new super power and its future role in the world economy. They will address questions about India’s long term prospects. Is the growth sustainable? What are the opportunities for India’s development? How can India maximize on its young population and manpower? How can India encourage more FDI? What steps can be taken to improve India’s current business environment?
2. Effect of Global Warming on India's Economy There is a wealth of evidence quantifying the economic costs of climate change in India. Experts from the University of Reading have estimated that mean summer rainfall in India will increase by 10% — along with rainfall intensity — and this will be accompanied by more regional variations. This is likely to affect agriculture productivity and, therefore, GDP growth.   The effect on GDP will be non-linear. Initially, every 2 degree rise in temperature would result in a 3% dip in global GDP. The next 2 degrees would do even more damage to the economy. However for India the effects are likely to be much more harmful. For every 2 degree rise in temperature the effect on GDP is 5% and for the next 6 degrees it would be 15-16%.   In 2002, when the monsoon failed in 2002, economic growth slumped to 4%, highlighting the direct impact of monsoon rains on the economy.   This year Indian monsoon was late by more than two weeks and India's Chief Statistician predicting that the delay will affect crop output adversely. While the delay will have immediate and apparent effects in the farm business, which constitutes 18% of India's GDP, there will also be spillover effects in other sectors. This will in turn weigh on business investment and household consumption, thus service-related sectors may also feel a bit of the squeeze caused by the monsoon problem. Does India have to resign itself to a rise in extreme and anomalous weather events? And how difficult and expensive will it be for the country to continue adapting to the consequences of a changing climate - be it an errant monsoon, flash floods, widespread droughts, fall in agricultural productivity, higher food prices, food shortages, a rise in vector-borne diseases, higher temperature-related mortality and morbidity etc?
3. Impact of the Fashion and Entertainment Retail Industries:  Growth, Challenges, & Opportunities With the burgeoning Indian middle class of 370 million and growing, the fashion and entertainment industries are hailed as one of India's fastest growing sectors.  The growth figures of these industries are projected to exceed that of India's overall GDP growth.   The celebration of the Indian spirit has finally risen from its humble “slumdog” background to acquire the character of a full-fledged and profitable industry, collecting global accolades across platforms. In the words of the industry’s greatest icon, Bollywood’s success has been inherently tied to the progress of the Indian economy.   The evolution of the industries over the years, the differences with global outreach, the innovation over traditional formats, the increased penetration especially across gender and age groups, the advent of foreign brands in the space are the unique challenges that the Indian marketers face today in attracting the attention of the India’s uniquely diverse population and thereby enhance consumer spending.   Discussion topics will chart the growth of the industries, encompass the “retailing” of fashion, exploring the changing landscape in cinema, and how prolific cinema-making has given way to a quality that is appreciated by a much broader audience.
Networking Event with Indian Appetizers to Follow
Presented by the Department of International Trade & Marketing Christine S. Pomeranz, Chairperson
Keynote Speakers:
Ravilochan Pola, President & CEO,  Kotak Mahindra Inc. Sandy Starkman, President & CEO, Sandy Bear Designs & Sandy Starkman Co., New York City and New Delhi
Downloadable PDF documents:
Email Invitation Photo Gallery
Tickets: Industry Guest:  $50.00 Students:  Free with Picture I.D. and Pre-Registration
Payment and Registration: Check, Visa, MasterCard & American Express. Please make checks payable to: The Educational Foundation for the Fashion Industries and include “India Day 2009” in the memo section. Mail to: EFFI, Fashion Institute of Technology, 227 West 27th Street, Rm. C204, New York, NY 10001 Information and Student Registration:  phone 212.217.4100   fax 212.217.4101                                                                   -OR-  email Lindsay_Yodice@FITnyc.edu
For further information please contact: Professor Subash Midha, International Business and Finance, New York University - subash.midha@gmail.com
Visit April 24, 2009 Economic Forum on India & China Businesses
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