The Hindu

Manipal, Jan 10: Chairman and Managing Director of Corporation Bank J.M. Garg on Friday said that recession could continue for about one-and-a-half years.

He was speaking after inaugurating “Atharva”, three-day annual management fest of T.A. Pai Management Institute (TAPMI), at its new campus here.

Mr. Garg said that the impact of global slowdown on India was likely to be partial. Banks in the country would resurrect the economy despite what was happening to world economy. “The first signs of recovery will be seen in the next six months,” he added.

People of the country had entrepreneurial potential in them. It was up to the management institutes to teach students to tap this potential. “Management festivals bring out leadership qualities among the students. Such festivals spur students to come up with good ideas that help them later in their career,” he said.

Pro-Chancellor of Manipal University H.S. Ballal said while he too believed that global slowdown would not affect India much, the crash of a software company recently raised doubts about the IT sector. Both Manipal University and TAPMI believed in having the best faculty. It was the faculty and not merely infrastructure which made educational institutions what they were, he added.In-charge Director of the institute Vasudev Rao welcomed the gathering. Convener of the festival Sameer Mardikar was present.