The Bengal Chamber of Commerce & Industry has recently organised an interactive session on current economic reality of India. Professor Abhirup Sarkar of Indian Statistical Institute, Calcutta mentioned the present weaknesses of the Indian Economy and how could this be tackled. His observation was deep and critical. Another speaker who drew attention was Subir Chakraborty, Director, Automotive, Exide Industry. He pointed out the crisis of globalisation. The world is going against globalisation. He also mentioned that the uncertainty in the economic field is being increased which is very difficult for us. Prospects of both capitalism and socialism have weakened. He also mentioned that India has to make his own brands. India has no brand even at its successful sectors, like automobiles, computer software.
Professor Anup Sinha, Economist and Director, Heritage Business School said that there must be some uncertainty in economic activity. He is more anxious about the fundamentals of the economy like employment generation, climate change. These are long term phenomenon. The volatility in CAD, other deficits, exchange rate, and prices of essential imported commodities will be there. But India should concentrate more on the long term aspects.