Dr. R. Seetharaman, Doha Bank CEO was awarded Global Indian Award



Dr. R Seetharaman, CEO of Doha Bank group was awarded the Global Indian Award by Rotary Club of Madras Metro. He received the award from Dr.K. Rosaiah, H.E The Governor of Tamil Nadu on 4th January 2013 at Sheraton Park Hotel & Towers, Chennai during the launch of KRIA- Rotary Metro Awards 2013 in Commemoration of the 10th Anniversary of Kesar. The event was attended by business leaders, bankers, and policy makers. Dr.R. Seetharaman while accepting the Global Indian Award thanked the management of Rotary Club of Madras Metro.



After receiving the award Dr. R. Seetharaman gave his outlook on Global economies. He said" IMF expects World economy will rise to 3.6% in 2013.The advanced economies growth is expected to grow by 1.5% for 2013. The US fiscal deal has been agreed but US still needs resolve its debt ceiling issue."

Dr. R.Seetharaman gave insights on emerging economies. He said "Emerging economies are expected to expand by 5.6 percent in 2013. 2012 was a year of challenge for emerging economies. India had concerns of inflation, current account deficit, fiscal deficit and threat of sovereign downgrades this year and will remain in 2013. However it is expected inflation will ease and growth can revive. Indian economy will grow by 6% in 2013. China's GDP grew by 7.4% in third Quarter of 2012 which is the seventh straight quarterly decline. China Central Bank had brought easing measures to revive growth and the capital markets remained less attractive this year. China's economy will likely expand by 8.2% in 2013. Concerns of hard landing in China will remain in 2013 as well. Brazil's growth will be 4% in 2013.A fragile global economy, plus severe infrastructure bottlenecks are the main obstacles ahead. Russia economy is expected to grow up by 3.8% in 2013. The bond market in emerging economies witnessed more activity in 2012 over 2011.

Dr. R. Seetharaman highlighted the current trends in bilateral trade between GCC and India. He said " GCC- India trade is at $145B for y.e March 2012 out of which exports from GCC is $100bn and imports by GCC amounts to $45bn. Indian imports from Qatar have grown by 90% to USD 12.9 Billion in 2011-12 from the previous year, due to increased imports of crude oil, liquefied natural gas and liquefied petroleum gas. Indian Companies such as L&T, Voltas and Punj Lloyd have active relationships in the Qatari market through partnerships, agencies and even have set up their offices in Qatar. India offers opportunities for two-way investment: Qatari investment in India is mainly in the infrastructure sector and private Indian companies are looking for investment in Qatar. Moreover, with Qatar becoming the host for 2022 World Cup and massive investment likely in infrastructure, Indian companies with a global profile can plan to secure deals in the Engineering, Procurement and Construction management contracts."

Dr. R. Seetharaman provided insights on Indian Culture. He said" Indian culture has transcended borders. It can be in the form of dance, literature, food, music, festival or cinema. I have seen people celebrating Holi in UK, Diwali in Russia, Dusshera in Australia and Pongal in South Asian countries. The Indian Hospitality Industry and restaurant chains have also become global to cater to the global Indian. Today India films from Bollywood, Kollywood and tollywood also target the global audience. India is a land of spiritual bliss and Indian temples attract global people and promote tourism. With India emerging as a major economic power in the world it becomes important to recognize its cultural heritage and look for ways to further develop it."



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