The Department of Economics, Panjab University, Chandigarh organised a lecture as a part of the second phase of UGC SAP on February 20th, 2017 in the ICSSR Complex, Panjab University Chandigarh.
Professor Upinder Sawhney, HOD Department of Economics, welcomed the gathering and introduced the topic.The keynote address was delivered by Mr. Marc Saxer, Resident representative, India office and coordinator, Economy of Tomorrow, Asia on the topic “Economy of tomorrow in Europe and India- the impact of digital automation on the employment”.
Professor Upinder Sawhney and Professor B.S Ghuman presided over the session. Mr Marc Saxer talked about internet of things and emphasised on the need to digitalise our resources as soon as possible. He also put shed some light on the fourth industrial revolution of India and Europe.
Mr. Saxer further raised concern regarding the rising rate of unemployment in India since studies show that India is losing the job opportunities at a tremendous rate (as high as 550 jobs per day). The IT sector and human care were addressed as the potential employment generating sectors.
Talking about the automation in economy he elaborated that it is “race against time”. The World Bank report says that 69% of Indian economy can be automated. The service sector being an important arena for growth and increase in employment. He also talked about the misplaced emphasis of supply side and let out of demand side economics.
B.S. Ghuman expressed heartfelt thanks for the high profile lecture and asked for a healthy dialogue in continuation. The event was preceded by high tea. The session in all generated an informative lecture and also a healthy discussion.
About the Author:
Kavvika Nandra (Dept. of Economics, PU Campus)