In his address, Dr Pani emphasized that acrisis of confidencea has aggravated the present crisis. He said that the Indian government is injecting liquidity to boost demand that will bring back the economy on track. He agreed that the situation is grim but was optimistic about the future and enumerated various steps undertaken by the government to stem the crisis. The seminar also had speakers including Mr Abheek Barua, chief economist, HDFC Bank, Delhi; Mr Amit Gupta, Vice-President of Bajaj Capital; Mr Gopal Nair, Director, Capital Market, Ministry of Finance, Mr Subhasis Nath, E.O. of Axis Risk Consulting Services Pvt. Ltd. and Ms Preeti Saxena, Research Analyst, SMC Group of Companies.
Mr. Amit Gupta cited a point in mediaas reporting about pink slips but their non-responsiveness on the new hiring into the companies. The speakers agreed that the financial tornado has caused grave concern for India but opined that it will soon bounce back. Prof AK Puri, Director General of the Institute said that even in this meltdown there is a ray of hope at the end of the dark tunnel. It provides an opportunity for Indian firms to pick up overseas business at very low considerations.