Recent Advances and Challenges in Finance & Marketing for New India @2022

The Department of Commerce, Mata Sundri College for Women (University of Delhi) is organizing a two-day International Conference entitled RECENT ADVANCES AND CHALLENGES IN FINANCE & MARKETING FOR NEW INDIA @2022 on September 6-7, 2019. The forthcoming international conference on Recent Advances and Challenges in Finance & Marketing for New India @2022 shall be under the broad thematic area of ‘Growth, Macro Trade and Economic Policy’ and under the sub-domain of growth of business and industry for economic development. The conference envisages a greater connect between academician-industry-government to identify and discuss the emerging developments and challenges in financial, marketing, corporate social responsibility of business and other emerging issues to support the policy formation and economic development. Niti Aayog (November, 2018) in its ‘Strategy for New India @75’ has envisioned e-commerce for generating demand, expanding manufacturing, generating employment, and fostering transparency; technology adaption called ‘Industry 4.0’ through artificial intelligence, machine learning and managing technology disruptions; augmentation of industrial infrastructure; comprehensive financial literacy of masses through financial inclusion among many such areas for policy development. This international conference shall be providing a platform for experts, practitioners, academics and researchers to deliberate upon these various research areas and find some viable suggestions.

Finance and marketing are always intertwined and businesses need understanding of key metrics in both areas for emerging risks and challenges. Corporate social responsibility and self- regulation are emerging as a marketing strategy and are being seamlessly integrated into brand propositions and market positioning of goods and services. The conference will provide a communication and discussion forum on strategic banking and finance topics such as big data analytics, risk management, disruptive financial modelling, infrastructure and project finance, stock markets, accounting standards, urban and rural transformation through banking; on marketing, the conference will take on topics like customer relationship, marketing innovations, new communication tools, market transformation strategies, and corporate social transformation. The great play of finance, marketing and CSR for protection of interests of all stakeholders can be seen in the recent acquisition of Ruia’s insolvent Essar Steels by Arcelor Mittal after SBI puts its Essar Steel loan on sale to resolve its NPAs. There are many such developments which this conference may deliberate upon as to how divestments and acquisitions turn into new business opportunities. How key strategies and business models are designed to re-engineer the change, for business and economic development.

Impact of the Conference on the Society and Nation

The businesses always need to be dynamic and adapting with widespread transformations coming from multiple convergent events in their physical, financial, marketing and regulatory environments, both domestic and global. They also need to be socially responsible and ethical. Very recently the RBI ‘Financial Stability Report’- December, 2018 reported, “The global economic prospects, overshadowed by the possibility of a disruptive trade war, have noticeably softened although the risk of a recession in major economies appears modest at this point of time… In the domestic financial markets, structural shifts in credit intermediation and the evolving interconnectivity between banks and the non-banks call for greater vigilance”. These issues will be the agenda of this conference. Moreover, the years 2016-2018 had been a landmark in regeneration of the financial structure of the Indian economy – the introduction of Goods and Services Tax (GST); passing of Banking Regulation (Amendment) Act and Insolvency and Bankruptcy Code; demonetization of high currency notes; mergers in the Indian Banking sector with SBI and Bank of Baroda emerging as the two largest PSBs and recapitalization of public sector banks. These advancements in the financial sector had a critical effect on the functioning of the entire economy, and will be deliberated upon in the conference. Further, the massive Indian market is growing and changing very fast. The buying behavior of the customer is also changing tremendously. To keep up with the rapid pace of change the marketers need to ensure effectiveness of their marketing strategies and tools. Some of the newly developed strategies to sustain in the market include Importance to Quality; Building a special customer relationship; Ethical Marketing; Digital Marketing; Direct Marketing and Mobile Marketing. The conference on these developments and emerging challenges will engage the various stakeholders on a common platform to discuss the varying perception and generate new ideas which may help the regulator to assess the impact of its policies and may also give new initiatives to businesses and start-ups. The conference will also dwell upon sustainable data management solutions which is also one of key business challenges for business and industry, both for finance managers and marketing managers. The importance of data analytics and cyber security has been recognized by the Niti Aayog (Nov. 2018), Government of India in their vision for industry and New India. This conference is, thus expected to make a serious contribution to the development of society and nation.