The 8th National convention Organised by the Department of Commerce was held at Hyatt Regency on 18th & 19th December 2003.

The inauguration of the convention started with the lighting of the lamp by the Hon'ble Union Minister, Mr. Arun Jaitley, the Vice-Chancellor, Delhi University, Prof. Deepak Nayyar, Prof. Sri Ram Khanna, Head, Department of Commerce, Dr. A.K. Seth, Programme Coordinator MIB-MHROD and Ms. Neelam Sharma, the placement advisor, invoking the blessings of Saraswati.

In the welcome address, Prof. Sri Ram Khanna gave the background of the MIB and MHROD programmes.

Professor Deepak Nayyar, the Vice-Chancellor, Delhi University, emphasized that the theme needs to be set in a wider context. The word globalisation is used in the positive sense of removing boundaries and in the normative sense of integrating the world for betterment. Prof. Nayyar enumerated various perspectives on the basis of which globalisaiton can be looked. Prof. Nayyar stressed that globalisation involves opening of the economies for trade, investments and finance.

It implies openness, interdependence and integration in respect of goods and services. Within the north, it is greater. It is less in south and there is dependence between north and south. It also implies a shift of capital and technology, and in a restricted way, the entry of people. It also involves integration of markets, and integration of production, both horizontally and vertically.

Mr. Arun Jaitley, the hon'ble minister started his inaugural address by indicating that a significant change is taking place globally.

Dr. A.K. Seth thanked the hon'ble Union Minister for Commerce Mr. Arun Jaitley and Prof. Deepak Nayyar, the Vice-Chancellor, Delhi University, for sharing their valuable time form their otherwise busy schedule to inaugurate the convention and providing direction for further discussion on issues outlined for the convention.