The Rowe School of Business's international experience course, "Doing Business in Emerging Markets," included a delegation trip to India.
On May 10, 2023, the NMIMS School of Business Management (SBM) hosted a group from the Dalhousie University Faculty of Management in Canada. Dr. Hamed Aghakhani, a professor of marketing, and Dr. Binod Sundarajan, a director and professor of management, both from the Faculty of Management, led the team on the two-week study trip to India.
Twelve students from their bachelor's in business administration, bachelor's in management, and corporate residency master's in business administration (CRMBA) programmes made up the group.
Participants were given a platform by NMIMS SBM & Dept of International Linkages to learn about the Indian Fintech Industry, the Indian Economy, and conducting business in India in order to increase their understanding of many facets of the fast globalising Indian Economy.
The goal of the course was to educate students on the customary obstacles and chances that Canadian companies have when trying to grow into emerging countries such those in Africa, Asia, Latin America, and Eastern and Central Europe.
Two distinguished industry speakers, Mr. Achal Mittal, Co-founder of Luquiloans, and Mr. Satyam Manohar, Dabur-Business PnL Head - West and former Vice President of Business at Paytm, spoke during the morning session. In contrast to conventional investment channels, Mr. Mittal discussed how using technology to connect borrowers and lenders can lower borrowing costs and increase investment opportunities. Mr. Manohar gave a summary of the Fintech sector.
The NMIMS SBM Faculty Dr. Chandrima Sikdar, Associate Dean and Professor, led the afternoon session. She shared insights on the Indian economy, which is the second-fastest-growing market in Asia, and how the market there, with its population of over a billion people, offers prosperous and varied opportunities for Canadian businesses. The chair of the communications area, Prof. Papiya De, spoke on how business is rooted in establishing long-term relationships and how India is a bilingual, multiethnic culture with noticeable cultural diversity among the 28 states. By using various examples and movies, she livened up her presentation.
"I would like to convey my gratitude for this chance," said Dr. Hamed Aghakhani, professor of marketing at Rowe School of Business. We were incredibly impressed by the developments in India's fintech sector during our visit. India's payment infrastructure jumps out as being superior to the other nations I've researched. The QR code technology is less common in Canada since we primarily utilise credit and paper cards. At the moment, banks or service providers in Canada require sellers to pay transaction fees of 2-3%, which burdens both the vendors and ultimately the customers. Payment processing may be made considerably easier and more accessible to a variety of vendors and customers thanks to the UPI system.