IKFS holds Economic Seminar

Thursday, January 31, 2013

The long waited first “IKFS Economic Seminar” was conducted at Plaza Athenee Hotel on Tuesday 29th January 2013.Many enthusiastic and young budded economists who joined in the event already endorsed the program as a grand success despite of bad weather. Indo-Kuwait Friendship society, bravely conducted this program for exploring further achievements in the dignity of the NRIs whose mind is set for the progress of their motherland India in the field of eradicating poverty and to support with the foreign remittances. Taking care of their fellow citizens, kith and kin in their native place is reward winning charity from almighty Allah (Subahuwataala) the organizers proclaimed. Sri Kuppanna, a leading economist and General Manager of Kuwait India International Exchange Company inaugurated the panel discussion. In his key note address on “Eradicating Poverty in India and Role of NRIs” he asked whether the “Poverty in India is real? or matter of concern? India is the poorest among G20 nations despite growth (fourth largest economy in the world). Between 1980 and 2010, India achieved a growth of 6.2 per cent, while the world as a whole registered a growth rate of 3.3 per cent. Result: India's share in global GDP more than doubled from 2.5 per cent in 1980 to 5.5 per cent in 2010. What NRIs Could Do? Educate: Our-self and those around us. About the right economics; policy implications needed. The best way of helping the poor is not to become one of them. (Earn, Save & Prudently Invest, then we can grow our Wealth). He added that “Give a man a fish, you feed him for a day. Teach him how to fish, and you feed him for a lifetime”. We, NRI should Set up “for profit” undertakings for skill development. The ‘entrepreneurial’ NRIs could set up businesses/industries and strive to run them on profitable lines and generate wealth. Do not seek concessions, support or patronage of Government. Because if we ask more incentives, then it would result in perverse, distorting and deleterious effects.. He concluded while saying that one would observe a very strong, though imperfect, correlation: Those countries with greater economic liberty tend to be less corrupt; have stronger protections of human rights; their people are wealthier; also their people score high on total human development. This finding is not a coincidence.

H.E. Brigadier, Abdul Hadi Al-Hajiri, ( Former Chief of Security, UASC) message was conveyed to the audience and Eng. Samer Matar, Chief Executive Officer, Plaza Athenee Hotel was the Guest of Honor. Advocate Sayid Mohamed Nizar, IKFS Vice President quoted in his speech that Poverty is a pervasive concern in a huge country like India. It has been projected that India is home for an huge number of impoverished population of the world. As laid down by the information furnished by the World Bank in 2005, around 41.6% of the overall population of the country is under the international poverty line of US$ 1.25 per day. This has been estimated in terms of Purchasing Power Parity (PPP), in technical terms INR 14.3 in village regions and INR 21.6 a day in metropolitan places. As reported by the United Nations Development Program statistics of 2010, approximately 37.2% of the population of the country is living under the countrywide poverty line. Amazingly, Indians abroad are doing wonderful job to eradicate poverty of their kith and kin to lead a comfortable life and educating children in college levels. Eradication of poverty in India is a priority for the any Government in India. , and we cannot blame the

Dr. Ghalib Al-Mashoor, in his Presidential address said that IKFS is proud of dedicating its 2nd anniversary celebrations coinciding with India’s 64 Republic day. This Patriotic fervor and its celebrations can be treated as a close point of reference to the youth when talking about the ideas of morals, values, self respect, courage and nationalism. Religion will allow to abstain the youth from being lost in the world that is changing fast leaving its inhabitants more addled than ever.

Kuppnna, The Main speaker of the event was decorated with a “Plaque and Memento” by IKFS executive team which was handed over Kuppanna by IKFS Vice President Adv. Sayid Mohamed Nizar. The prestigious ”IKFS certificates” and “Memento” to the winners of the Second and Third Places in the recently held competitions “IKFS BEST ECONOMIST AWARD 2012” was delivered to “Dr. Sabiha Bilgrami & Shireen Merchant respectively also by IKFS Vice President Adv. Sayid Mohamed Nizar. The First Prize holder Dr. Lubna Sarwath, suppose to attend the function in Kuwait was notified to collect them and promised to attend in future functions of IKFS.

Abdullah Ibrahim Kokar, The President of “ADARA ETTEHAD AL-BEOPARIAN” (Rajasthani based Association) also spoke during the event . Shirin Merchant, in her speech said that there are limitless ways the civil society can make itself useful to others, and IKFS is the good example in Kuwait for doing wonderful community awareness. Dr. Sabiha Bilgrami also expressed her gratitude for giving opportunities to the public for awareness of our motherland’s strength and poverty can be eradicated by thinking positively and negative thinking our own motherland should not be allowed to lose relevance.

Dr. Abdul Razzak Rumane, IKFS Patron said that IKFS is acting as a bridge between Kuwaiti and Indian People and bound of friendship is built our President Dr. Ghalib Al-Mashoor. He requested whole-hearted support for further enhancing and exploring the best community works IKFS doing. Dr. Rumane also expressed vote of thanks. A spacious dinner was also served. Engineer Sayid Fadal Nizar was asked to demonstrate power point presentations of the Participants in the “IKFS BEST ECONOMIST AWARD 2012” and Dr. Lubna Sarwath’s winning presentations were interrupted in an excellent and amazing way which the audience. Ashraf Mundoor, Treasurer of Kuwait Kerala Muslim Cultural Centre – Kannur Disrict Committee and Hafiz (United Nations), Amr (Ministry of Finance, Govt. of Kuwait), many students from Indian Community School, Indian Public School, Salmiya Indian Model School (Najum, Sumaaya, Zainab, Israa’ Shymaa, Shabnam) also attended in the Economic seminar. IKFS General Secretary A K S Abdul Nazar and Secretaries Natarajan, Pradeep Rajkumar supervised the event. Byju, Executive Sales Manager and the visiting guest from Bajaj Alliance insurance Group coordinated in organizing the auditorium. Special thanks were given to Samer Matar for co-sponsoring the event along other supporters. Sayed Zoheb, Executive member IKFS said that IKFS seminar committee is planning to deliver of the participants Certificate of Attendance” for each participant in the seminar and making the event a grand success. Iftekhar Ahamed, Treasurer, IKFS welcomed the guests. The event was begun by Zainab Ghalib’s recitation of Holy Quranic verses.


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