A discussion of India's economic future brought together businessmen, faculty and students in Jon M. Huntsman Hall on Friday.
The event was part of the Wharton Global Business Forum -- a weekend-long conference organized by Penn students. The Wharton India Economic Forum segment was designed to promote thought and conversation among prominent Indian and American business officials and members of the University community.
Professor of Management Jitendra Singh invited the audience during his opening remarks to "ask yourself what the global economic landscape will be in 2050."
He predicted continued real economic growth for India over at least the next 30 years.
The two keynote speakers -- Chairman of Satyam Computers Ramalinga Raju and former United States Ambassador to India Frank Wisner -- addressed the implications of the nation's economic promise.
"India is clearly emerging as the services hub of the world," Raju said. "The infrastructure... has undergone an honest change."
Both Raju and Wisner discussed the problems and value of outsourcing, which costs jobs in the short-term but may spur long-term growth.
"The key is going to be India's ability to attract much greater investment," Raju concluded, in setting the course for future growth.
Wisner turned the discussion to American concerns about investing in India.
Citing historical instability and corruption, Wisner said, "Businessmen will watch politics. They will measure risk."
Even so, he advocated a greater role for the U.S. in India's economic development, calling for a free trade agreement in services.
Wisner's remarks touched on a number of issues -- including corporate responsibility in health care -- which would be specifically addressed in WIEF panel discussions and keynote speeches on Saturday.
The Saturday events of WIEF took place downtown at the Pennsylvania Convention Center and also included discussions of corporate success strategies and information technology.
Student organizer and Engineering junior Aarati Soman was pleased with the remarks, which drew about 80 attendees.
"The keynote this year has been extremely thought-provoking," she said, adding that previous years' speeches were not as frank.
Managing partner of The Ridgewood Group investment firm Kaushal Majmudar, 34, was also impressed with the speakers.
"It's rare to find such thoughtful summary and discussion of implications," he said. "If this is any sign of what's to come tomorrow, I'm very excited."
