india

Updated: Sep 17, 2019 08:46 IST

Senior union minister Nitin Gadkari and chief ministers Devendra Fadnavis and Yogi Adityanath are expected to attend the upcoming World Hindu Economic Forum (WHEF) being held in Mumbai next week to discuss the country’s economic agenda. The conference comes at a time when there are concerns over an economic slowdown, reports of layoffs and a growth rate in the region of 5%, even as the union government has dubbed it a temporary phase.

The three day-event from September 27-29 will also have on board industry captains, including Ajay Piramal, chairman, Piramal Group, Vivek Lall, vice president, strategy & BD, Lockheed Martin, Banmali Agarwala, president, Infrastructure and Defense & Aerospace at Tata Son among others, who will brainstorm on how to change the current scenario in the investment and export sectors said a person aware of the developments.

Speaking to Hindustan Times about the annual event that started in 2012 in Hong Kong, Guna Magesan, a former senior scientist in New Zealand, and now a volunteer at the World Hindu Economic Forum, the conference is being held to create a platform for investors and start-ups and also to help come up with suggestions to steer economy.

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“There are lots of reports in the media about the economic slowdown; but my view is that there are only a few sectors that are facing a downturn, such as the real estate sector. There are many people with money who want to invest, but are being careful because of the reports (of economic slowdown),and outside perception,” Magesan said.

He said the conference is aimed at creating more avenues for creating market access. “Up to the 15th century, Indian was contributing about 35% of the world’s GDP, which has now come down to 2-3%. Our dependence on imports has risen. We have to make efforts to reverse this trend and again become larger contributors to the world’s GDP,” Magesan said.

As per the information on WHEF website, the forum was created to “bring together financially successful elements within Hindu society, so that each group can share their business knowledge, expertise and resources with their fellow brethren, to trigger the creation of surplus wealth and make society prosperous.”