Two day International Conference on contemporary business trends begins at NIT Srinagar

SRINAGAR, May 24: The 4th International Conference on contemporary business trends, titled “Sustainability and Sustainable Business Practices,” began on Friday at National Institute of Technology (NIT) Srinagar. This event is organized in partnership with the Confederation of Indian Industry (CII).

The inaugural session of the hybrid conference was presided over by Director NIT Srinagar, Prof. A. Ravinder Nath. Dr. Jaspreet Kaur, Associate Professor at VIPS New Delhi, was the keynote speaker for the session.

Other notable attendees included the Institute’s Registrar Prof. Atikur Rehman, Iqram Ali Shafiee (Managing Director, Shafiee Healthcare Pvt Ltd), Dean of Academic Affairs NIT Srinagar, Dr. Mohammad Shafi Mir, Dr. Rahul Mirchandani (Chairman & MD Aries Agro Ltd), Bilal Ahmad Khan (Director and Founder of KashPET Private Limited), Dean FW (HAG) Prof. G.A Harmain, Dean A&IA Prof. Nazir Ahmad Sheikh, Dr. Jaya Shrivastava (HoD, HSS&M), and other dignitaries.

Prof. Roohie Naaz is the Patron of the conference. Dr. Tahir Ahmad Wani and Dr. Mohd Rafiq Teli are the Organizing Secretaries, with Dr. Nufazil Altaf and Dr. Sumaira Jan serving as Convenors, and Dr. Ajaz ul Islam and Dr. Shahnawaz Ahmed as Coordinators. The IEEE student branch is the technical partner for the event.

Director NIT Srinagar Prof. A Ravinder Nath stressed that to succeed in today’s market and ensure people’s comfort, we must not harm the future. He said that if we do, it would be a disaster for both society and the planet.

He pointed out three key points for sustainability: “First, we must use the planet’s resources wisely to make a profit without harming future generations. Secondly, we need to use technology. Third, good management and understanding values are crucial for sustainable growth, Prof. Ravinder Nath said.

In her key address, Dr. Jaspreet Kaur said that after the introduction of the United Nations Sustainable Development Goals (UN SDGs) in business has significantly changed the landscape.

“Companies are increasingly prioritizing long-term sustainability, ethical practices, and minimizing their environmental footprint. It is imperative to innovate new construct formulations to align with these crucial initiatives,” she said.

Dr. Jaspreet also highlighted that in India, researchers have yet to explore 17 goals within the Sustainable Development Goals (SDGs). There is an urgent need for sustainable development efforts.

“There are numerous practical challenges that persist within companies, demanding our attention. It is imperative to develop new frameworks and actively address under-represented SDGs,” she added.

Institute’s Registrar, Prof. Atikur Rehman said such conferences are vital and urged the youth to come forward and work for the sustainable future of society.

He also cited an example of HMT Company and how it collapsed in the market due to non customer approach.  They could not move with the latest trends.  There is a need to bridge the gap between academia and Industry.

“Market demand investments and our government has been encouraging public-private participation to rake up domestic investments in order to foster domestic production and reduce the economic disparity,” Prof. Rahman said.

Dr. Rahul Mirchandani, Chairman & MD of Aries Agro Ltd, highlighted the importance of two key words in sustainable business: “custodianship” and “co-creation.”

He explained that sustainability in business means taking actions to reduce harm to the environment and society while doing business. He emphasized that sustainability should be a central part of every business’s plans and actions.

Iqram Ali Shafiee, Managing Director, Shafiee Healthcare said that businesses are increasingly recognizing sustainability in their core operations.

“Sustainability is not merely a buzz word but a fundamental paradigm shift towards efficiency, innovation and long term value creation,” he said.

Mr. Shafiee also talked about the thrust areas that have been chalked in the health care sector.

Mr. Bilal Ahmad Khan (Director and Founder of KashPET) said J&K has shown remarkable growth in the Industrial sector over the past 10 years. 

“Now students are coming up with new ideas and innovations for this growth to foster. We need to strengthen the partnership between Industry and academia, so that we can move forward for sustainable business,” he said. 

Dean AA, Dr. Mohammad Shafi Mir said there are constant changes that are happening in the market and the world has become very dynamic, especially in business.

He stressed the importance of incorporating sustainable practices into business operations, citing their pivotal role in addressing environmental and social concerns. Now, companies are increasingly prioritizing sustainability as a fundamental driver of long-term success, Dr. Mir said.

Earlier the inaugural speech of the conference was delivered by  Dr. Jaya Shrivastava (HoD, HSS&M) said that in today’s world, organizations across sectors are increasingly recognizing their role and responsibility in contributing to a more sustainable future.

“This conference serves as a platform for scholars, researchers, practitioners, and policymakers to come together and exchange ideas, insights, and best practices in the pursuit of sustainability,” he added.

A formal vote of thanks was presented by Dr Falaq Mubashir. She expressed her gratitude to the Chief Guest Director NIT Srinagar Prof. A Ravinder Nath, Registrar NIT Prof. Rahman, Dr. Jaspreet Kaur, Dr. Mirchandani and other dignitaries for making the inaugural session of the conference successful.