DAY - 1 of Two-Day International Lecture SeriesEmerging Issues in Commerce, Finance and Management

The Head of the Department of Commerce, Professor Sakushindoi, officially welcomes attendees to the international lecture series on emerging issues in commerce, finance, and management. He emphasizes the dynamic nature of the global economy, driven by digital transformation, sustainable concerns, and financial innovations. The series aims to foster academic dialogue, knowledge sharing, and critical reflection, bringing together international and national speakers, academicians, and students. Dr. Sikanto Samunto, the principal of the college, delivers the inaugural address, highlighting the significance of the lecture series in an era of rapid economic and technological changes. He emphasizes the importance of examining emerging issues that influence decision-making and underscores the event's role in enriching understanding and aligning theory with practice. He then formally inaugurates the series, expressing wishes for its success.

The guest of honor, Sri Aurwa Mujundar, President of the governing body, provides a brief address, acknowledging the dignitaries and the importance of the event. Following this, the chief guest, Professor Dr. Sintto Shanku Saha, is introduced. Professor Saha, a distinguished academician, will speak on 'India 2047: Inclusive Growth, Education, and Governance,' a topic of significant national importance. He starts by addressing the students, stressing that the event is primarily for their benefit to enhance their knowledge and growth, and acknowledges the leadership of the principal and department head.

Professor Dr. Sintto Shanku Saha delivers his keynote address, focusing on the strategic vision of 'India 2047.' He references the economic reforms initiated in the 1980s and 1990s (LPG concept) as a foundation. The 'India 2047' vision aims to transform the nation into a developed, inclusive, innovative, sustainable, and self-reliant country by its 100th year of independence. He outlines key pillars for achieving this vision: economic growth (targeting a $32-35 trillion GDP), social progress (focusing on health, education, and skill development, emphasizing job creation over job-seeking), infrastructure (physical and energy-related), and governance (efficient, transparent, and secure). He also touches on the expected outcomes, such as universal education and health, zero poverty, and a gender-equal society, while acknowledging challenges like employment generation and climate change. He concludes by emphasizing the importance of integrity and honesty.

Dr. Kuntal Das delivers a keynote address on the psychology of investing in financial markets, exploring how human emotions, cognitive biases, and social influences shape investment decisions. He contrasts traditional finance models, which assume rational behavior, with behavioral finance, which acknowledges irrationalities. He provides several examples, such as the disproportionate stock price reaction to news about a cancer drug, the impact of a TV host's stock recommendations (Mad Money), and the unexpected market movement of a semiconductor company due to the 'Gangnam Style' hit. Dr. Das explains concepts like investor attention, sentiment-driven behaviors, and the use of textual analysis to extract information. He highlights common biases like overconfidence (overestimation, overprecision, overplacement), anchoring, and loss aversion, and offers strategies to mitigate these biases by remaining logical, being aware of information framing, using checklists, and seeking diverse perspectives. He shares Warren Buffett's insight that temperament, not intellect, is crucial for investors.

The panel discussion, chaired by Professor Dr. Siddhap Saha, begins by highlighting the session's focus on content quality and evolving issues in commerce, finance, human resources, and sustainable management. Professor Saha addresses the students, encouraging patient listening, and then introduces the topic of the IPO market in India. He explains the concept of Initial Public Offerings (IPO) as a way for companies to raise capital from the primary market. He details the stages of an IPO, the role of regulatory bodies like SEBI, and the distinction between primary and secondary markets. He emphasizes the importance of entrepreneurial attitude, the need for finance from various sources, and the role of merchant bankers as intermediaries in the IPO process. He explains how IPOs facilitate capital formation for business expansion, modernization, and diversification.

Dr. Deasis Vishus speaks on human resource management (HRM), emphasizing that it extends beyond traditional definitions to encompass people with immense possibilities. He highlights the role of HR in nurturing, mentoring, and providing proper direction, supervision, and effective communication to employees. He introduces the VUCA (Volatility, Uncertainty, Complexity, Ambiguity) environment, stressing the need for HR to adapt to rapid changes. He advises students to be disciplined and adaptive, continuously updating their skills to navigate the evolving industrial landscape, mentioning Industry 5.0's focus on collaborative robots and AI as assistants rather than job replacements. He discusses key operative HR functions: procurement (recruitment, selection, placement), development (training, development, career planning), compensation (remuneration, incentives), integration (grievance handling, team building), and maintenance (health, safety, welfare), concluding with the importance of diversity, equity, and inclusion in HR policies.

Dr. Sundi Tundi discusses the transition from a linear to a circular economy. He defines linear economy as a 'take-make-dispose' approach where products are consumed and then discarded, leading to waste generation and resource depletion. He provides examples from industries like Coca-Cola. In contrast, the circular economy focuses on reusing and recycling products and materials, minimizing waste, and optimizing resource use. Dr. Tundi explains how adopting a circular model can reduce raw material costs and optimize manufacturing processes. He emphasizes that this shift requires fundamental alterations in production and consumption mechanics while still addressing human needs. He also touches upon market penetration and the impact of 'asymmetric information' and 'stochastic processes' in the context of economic transitions. He concludes by confirming the importance and relevance of the circular economy concept.

The Department of Commerce extends a vote of thanks to all participants and contributors. Special gratitude is expressed to the chairperson, Professor Dr. S. Saha, for his insightful address on the IPO market and adept session chairmanship, and to distinguished speakers Dr. Debasis Biswas and Dr. Ship Gundi for their enlightening lectures. Appreciation is also extended to the delegates, faculty, students, principal, governing body president, organizing committee, non-teaching staff, and student volunteers for their dedicated efforts. The session concludes with the successful completion of Day 1 of the international lecture series, with anticipation for Day 2's academic deliberations.