Daijiworld Media Network – Udupi
Udupi, Apr 21: A seminar entitled ‘Marketing Challenges in the Global Village’ was organized by Justice K S Hegde Institute of Management (KSHIMA) at Nitte near here on Saturday, April 19.
Delivering the inaugural address on the occasion, M B Padiyar, director (production and projects) Kudremukh Iron Ore Company Ltd (KIOCL) of Mangalore comparing India's economy with that of the USA, positively predicted that by 2025, India will be poised for a huge growth, with the GDP expected to grow at the rate of 11% while that of the US may deteriorate from 21% to 18%.
In this context he opined, 'India, having come closer to US in growth may be rated as one of the strongest countries with economic stability in the world.' Touching upon the topic of steel sector Padiyar said that it would indeed be a challenge to set-up steel and allied industries at low costs in India.
He pointed out that in China, government provides power, diesel and furnace oil at subsidized rates. It is these factors, along with low-cost labour that has made China take giant leaps in the industrial sector.
In the course of his address he advised, 'Innovation should be the mantra for fast development of industries while marketing is the key factor.' Moreover, according to him management colleges play a significant role in bringing out the best products to cater to the needs of the corporates.
Also present at the function were academic council chief N K Thingalaya, director M S Moodithaya, faculty member Prof Ravilochan Rao and others.