KIIT Law School Conducts Webinar on “Foreign Direct Investment to Boost Indian Economy”
The Centre for Studies in Business and Corporate Law (KCBCL), under the aegis of the Department of Business Law and Corporate Governance, KIIT Law School (KLS), in collaboration with the Institute of Company Secretaries of India (ICSI) conducted a webinar on “Foreign Direct Investment to Boost Indian Economy” 23rd April 2022.
Speaking at the webinar, Mr. (CS) Prateek Kohli said that the field of Foreign Direct Investment (FDI) is mostly undiscovered in India and lacks professionals in the sphere, even though about 60-80 billion dollars are transacted each year. FDI is triggered when a non-resident invests in any of the capital instruments in India, he said, elaborating that this can be done in one of three specific ways – setting up their office in India, taking over any existing company in India, and forming joint ventures in India. Some sectors, such as marketing software, allow automatic entry into India, while some others, like defence equipment, require approval for entry, he informed. The speaker explained the detailed procedure of FDI with the help of a hypothetical example.
Addressing the students, Mr. (CS) Jyotirmoy Mishra explained the academic collaboration of CS with the legal profession. CS and law are like sister professions, each enhancing the other, he remarked. Welcoming the speaker, Prof. Bhavani Prasad Panda, Director, KLS stressed on the importance of economy, investment and money for a country like India. These are vital for the economy to grow, he said, while encouraging more such programmes for the students.
The talk followed a question-answer session, facilitated by Prof. (CS) Pratiti Nayak, Faculty Member, KCBCL. As many as 98 participants joined the webinar. Bhumika Saishree Panigrahi, Student Member, KCBCL also spoke on the occasion. Mandavi Banerjee (Student Coordinator, 4th Year) and Peeyush Das (Student Member, 3rd Year) were the Rapporteurs.