Jaipuria Institute of Management , Lucknow organized a two -day national conference – IIC 2011 . The Sixth National Conference on Interdependence, Integration and Co-creation (IIC 2011 was inaugurated on Saturday, November 19th 2011. The chief guest for the conference was Dr. Farooq Abdullah, Union Minister for New and Renewable Energy, Government of India.
The conference which comprised of four sessions “Power & Energy, Infrastructure Financing, Transportation and Urban Infrastructure and Housing threw light upon the various aspects of Infrastructure and its role in India’s socio economic growth .
The conference witnessed the assemblage of a galaxy of top notch speakers and policy makers drawn from the best in the industry , including Suresh Mathur , Founding MD and CEO, Petronet LNG , Debashish Majumdar, CMD, IRDEA, M.Mohapatra , GM , Mid corporate , HUDCO, Rajeev Mahajan, ED, Corporate Finance , YES Bank , Rajeev Talwar , CEO ,DLF , R. Mandal, CEO, SREI, R.K.Jain, Advisor Infrastructure , Railway Board, R. Sivadasn , Former Finanacial commissioner , R.S.Sharma, MD, Jindal Power, R.V.Verma, CMD, National Housing Bank , Sambit Basu, Director, Policy Group, IDFC Ltd. , S.K.Agarwal, Directyor(Fin) UP Power Corporation, S.K.Goel, CMD,IIFCL, Shivaji Basu , DGM, GAIL, Subir Hazra, AVP,GMR Group, Sudhir Krishna, Secretary, Ministry of Urban Development, Dr. Vinod Tewari,Chair Professor,NCR studies ,TERI University .
In his inaugural speech Dr. Farooq Abdullah started by motivating the younger generation to come forward and contribute for the development of the infrastructure sector in our country by innovative thinking and creativity. Addressing the youth, he said , Infrastructure is a must but the main building block of infrastructure is you”. Talking about the lack of energy penetration in India, he said,” Our nation still has 40% population that does not know what an electric bulb looks like”. He further added that the ministry of New & Renewable Energy, the only such ministry in the world, is focusing on the four energy sectors namely solar, wind, geo-thermal and biomass. He concluded by saying, “Till every person understands his or her responsibility, India’s development path will not be an easy one.”
The day one of the conference covered sessions on Power & Energy and Infrastructure financing .
In the first session Founding MD & CEO, LNG Petronet , Shri Suresh Mathur, highlighted the country’s growing GDP and the increased energy consumption. While Chairman & Managing Director, Indian Renewable Energy Development Agency Limited (IREDA),Shri Debashish Majumdar,commenting on the occasion said that the renewable energy, which is the hope for the future, currently forms 11% of the total energy, of which nuclear energy is just 3%. He further added that IREDA and Petronet have taken several initiatives to finance renewable energy development projects. He concluded by saying, “The opportunity for a satisfying career in this industry exists for young people”, he said.
Director (Finance), U.P. Power Corporation Ltd., Shri S. K. Agarwal, Director (Finance), U.P. Power Corporation Ltd., discussed about the three important aspects of power sector, viz. generation, transportation, and distribution. He said that the issues power sector is currently facing such as poor management, inadequate cost recovery, poor infrastructure, poor MIS system among others. He emphasized the importance of the involvement of private players and the government for the survival of this sector. He proposed that PPP is the ultimate solution for appropriate distribution and government authorities should look for such participants.
Various aspects of urban infrastructure and housing were discussed on the concluding day of the conference.
Secretary Urban Development ,GoI , Dr. Sudhir Krishna , while speaking on “ Urban Infrastructure and Housing “ said the migration of people from rural to urban areas was going unabated .
This is because there is economic disparity between the two. But this migration is leading to imbalance and is giving rise to the problem of housing. The economy of houses should be promoted on a large-scale “, he said.
Dr. Vinod Tewari , Chair Professor of NCR, TERI University said there was a huge gap between rural and urban infrastructure and it needed to be bridged. “Government schemes on PPP model can be used to bridge the gap. This will also help check migration from rural to urban areas” , he said.
CMD, National Housing Bank, Shri RV Verma, said as the population in urban area was growing consistently there was a need for creating more dwellings.
Banks should facilitate people to have their own house by providing loans . Chairman, Indian Infrastructure and Urban Development and former Chairman, P.S.Rana said : “ We need 5600 urban centres in which we shoul provide employment to the extent of 60-90 percent accommodation in a cost effective manner . This can be done in a planned way with the help of experts . This will also help raise financial status of a country and also will make the people and country self dependent, “he said.
Director(planning). Railway Board ,Shri Jitendra Singh , said the infrastructure of Indian Railways had increaded a lot since Independence and several more projects were on the card in the 12th plan .”Advancement in technical knowhow is helping a lot in expansion work ,” he said.
Chief Managing director,National Housing Bank , R Varma , in his valedictory address said the economy had suffered a continued global meltdown, which has been trigggred by housing market.He emphasized the need for sound infrastructure projects that the financial institutions can risk financing as there is a pre existing demand in the economy.
Director, Policy group, IDFC Limited, Shri Sambit Basu, discussed the growth prospects of the power and energy sector. Talking about the liberalization in the coal sector Shri Basu emphasized that “More than 50% of energy requirements are fulfilled by coal and 75% of the coal is being used for producing power”. . He further said that there is a great potential for growth in the energy sector provided coal supply is uninterrupted and the cost is passed on to the procurer. He concluded with the statement, “A very strong energy policy by government is required”.
Deputy General Manager, GAIL, Shivaji Basu, who talked about the natural gas sector as a green fuel for power. He spoke about the contribution of GAIL in the energy sector as it currently processes 75% of India’s natural gas for consumption purposes.
The second technical session dedicated to “Infrastructure Financing”. The session chair Shri S.K.Goel, CMD, IIFCL, discussed about infrastructure financing becoming the top priority of our country. He said,” If we want a growth of 9% we should have quantitative and qualitative infrastructure”. He concluded by talking about the opportunities in infrastructure management.
CEO, SREI , Shri R. Mandal, highlighted the insufficient resources at the disposal of the Government to maintain the GDP at 9-10%. He talked about the relevance of the PPP Model in the development of the infrastructure sector. According to him profit making by private players in this sector should not be taken negatively by the government as they can always incorporate controlling measures for it. He also spoke about the infrastructure deficit that exists in many primary sectors and the need to renovate and develop these areas.
Executive Director, Corporate Finance, Yes Bank, Shri Rajeev Mahajan, discussed about the basics of infrastructure financing. He emphasized the Government’s responsibility to fund infrastructure sector and also talked about the growing importance of private investors in this area. He concluded by suggesting that with new institutions coming in to fund infrastructure in India, there are a lot of possibilities in this area”,he said
General Manager, Mid Corporate, State Bank of India, Shri M Mahapatra, commenced his lecture by sharing some humorous experiences from his life. He explained that the problem in infrastructure financing is not the inadequacy of funds but the absence of good projects and long term vision. He talked about the intricacies of infrastructure financing such as higher risk paying higher returns and convertible structures. Infrastructure will remain a very important issue for the next 50 years; thus a lot of opportunities are there”, he said on his address.
About Jaipuria Institute of Management:
Jaipuria Institute of Management is led by the doyens of exceptional vision which have always devoted their commitment beyond business to developing new generation thought leaders. Beginning with Seth Anandram Jaipurias pioneering initiative to set up Jaipuria College in Calcutta as far as back in 1945, the commitment of House of Jaipurias to providing super quality education has only deepened and grown since then. Today the name ‘Jaipuria’ is synonymous with excellence in management education. Driven by the vision to empower aspiring young minds, the Jaipuria Group has set up futuristic knowledge hubs in four strategic locations of the country – Lucknow, Noida, Jaipur and Indore. All its campuses have been consistently ranked among the Best B-Schools of the country by different surveys.
Jaipuria Institute of Management offers AICTE Approved Two Year Full Time Post Graduate Diploma in Management Programmes :
•Post Graduate Programme in Management : Lucknow,Noida,Jaipur and Indore
•Post Graduate Programme in Retail Management (PGDM): Lucknow
•Post Graduate Programmme in Financial Services: Lucknow
•Post GraduateProgramme in Marketing : Noida
•Post GraduateProgramme in Service Management : Noida
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