Updates


Great Lakes Knowledge Series


Dr. Bobby Srinivasan, Distinguished Professor, Great Lakes Institute of Management and Former President of Institute for Financial Management and Research, delivered a presentation to the corporate honchos on the topic, “Sagging Indian Rupee, Returning home to lower economic growth.” The presentation officially flagged off the inaugural session of Great Lakes Knowledge Series, a monthly initiative organized by Great Lakes Institute of Management with an objective of leveraging its intellectual capital for knowledge dissemination to industrialists , corporate professionals and self-employed on latest business trends, market progress and industry growth.


Dr Srinivasan started the presentation with a recap on similar economic meltdown that took place in the USA in the year 2001, where nearly 90% of the internet companies crashed causing liquidity crisis. In his comparison he threw light on current economic stand of India and future possibilities. Talking on the topic Dr Srinivasan said, ”As a promising emerging economy, in 2004 India received hundreds of billions of dollars through the FII, FDI and ECB Channels. This is because excess money was created in the US and needed to be absorbed."


He added, "The general consequence of economic crisis are; local currency value depreciates significantly, GDP growth rate drops, per capita GDP plunges, manufacturing takes a big hit and consumer confidence drops."



On the current status of Indian economy, Dr. Srinivasan highlighted that in the current Indian Central budget of Rs. 16.65 trillion around Rs. 5.5 trillion or approx.. 33 % was borrowing. In other terms, for every 100 rupees spent, borrowed money is expected to be is Rs. 29. Of the 100 rupees 18 rupees will go towards interest on previously borrowed money. 10 rupees will go to subsidies and increasing for e.g. Food security bill. In the first 4 months of the financial year the government has already used up 63% of the budgeted money. If this trend continues we can expect the fiscal deficit to be around 7.8 trillion rupees, of course not counting the food security bill. Therefore it is expected that this will contribute to surging inflation and growth rate and GDP coming down.


He added that an analysis of India’s trade in the last 3 years indicated that our trade deficit has been going up as below


2010 – 11           $ 130 billion
2011 – 12           $ 180 billion
2011 – 13           $ 190 billion

Therefore the expectation of deficit $ 150 billion or less seems unlikely.


Dr. Srinivasan concluded, "To cover the deficit, the government may be constrained to take recourse to print money that might lead to a rush to convert cash in to real assets, increase in gold purchase, increase in the loan borrowing etc.. On the current account, if the liability of Rs. 400 billion increases against a forex reserve of Rs. 275 billion, the rupee is likely to plunge further."




Student Achievements

War of Bands – The Campus Maverick, Deloitte

Rahul Patankar, Animesh Saraf, Rahul Batta, Raghupati Jha, TanmoyMitra, Ashish Vashisth Students PGPM (2013 - 2014)


"Marketing: A Tool to refurbish the Education Sector", article published in Samvad, Official Student Magazine of WeSchool, Mumbai

Astha Pandey of PGPM (2013 - 2014)


Swati Kaul, PGPM, 2013-14 won the Article writing competition

Swati Kaul, PGPM, 2013-14 won the Article writing competition on the theme “GENDER EQUALITY-Are Mars and Venus treated equally in the corporate universe?” conducted at SWIM 2013, Great Lakes Institute of Management, Chennai


‘The Changing Face of Finance Consultancy: Boutique Investment Banks’ has been published in the May, 2013 edition of IIM- Shillong Conquest Magazine (Consulting Club) as ‘featured article’

Ankur Baj of PGDM (2012 - 2014)


Best silent voice entry for the June, 2013 Edition of Markathon-The Marketing Magazine of IIM-Shillong

Pulkit Kohli and Ankur Baj of PGDM (2012 - 2014)


Winner of Ernst and Young Knowledge Quiz

Lathish Venugopal, Viral Patel. More than 2000 teams across India participated in this


Runners up at TATA Crucible Campus Quiz

Lathish Venugopal and Viral Patel.


Article published in March edition of Markathon – Marketing magazine of IIM- Shillong

Kriti Dua and Sankalp Parihar. The article was on Marketing Trends 2013


Winner at Hyundai Global Youth Marketing Camp

Shouvik Das. The event was held in S.Korea and the team comprising of 4 Korean students, 4 Indians and 1 Chinese student won the award for the Best BTL Strategy


Second Prize for Article writing in NMIMS Banking

Namratha and Mahesh. The article was on “Policy expectations for the Indian Economy” and was published in the BankAge Magazine of NMIMS.


First Place- The Clan,IFMR

Krishnan Chidambaram and Hariharan Subramaniyan. The event was Abhyudhaya, the flagship HR event of IFMR. They competed in the finals against teams from K.J. Somaiya, IIT Madras, BIM, Welinkar and LIBA


I Runner up at Goa Institute of Management

Gajendra Sisodia and Kriti Dua. This was a national level case study competition (Samiksha 2013). Total of 127 teams participated in the event


Article published in NITIE’s In-Fin-NITIE

Manshi Gandhi. The article was on “Quantitative Easing”


First prize in case study competition at SIMC

Harleen Wahi and Abhishek Jain. The case study was a real case of declining sales of next gen publishing magazines a unit of Shapoorji Pallonji & Co Ltd. Great Lakes competed with 11 teams in the final campus round with the likes of SIMS,MICA, NITIE, Narsee Monjee,etc