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Press Release (28 December, 2017)
Nobel Laureate Professor Muhammad Yunus was invited as Guest of honour at the 100th conference of Indian Economic Association (IEA) on December 27, 2017 in Guntur, Andhra Pradesh. He was invited at the historic centenary conference of IEA, which was established in 1917. He will give a special lecture for the economists on December 28.
President of India Ram Nath Kovind inaugurated the conference as the chief guest at Acharya Nagarjuna University, Andhra Pradesh, India. Governor of Andhra Pradesh E.S.L. Narasimhan and Chief Minister Nara Chandrababu Naidu were also present at the inaugural event. The theme of the conference is ‘India development experience since Independence,’’. In his official address, HE President of India welcomed Professor Yunus at the conference and said, “Professor Yunus’ work in development economics has made him the pride of the entire subcontinent.”
Professor Yunus in his inaugural address to the conference highlighted what he thinks are important issues of the world such as absence of financial structure to help the poor to express their entrepreneurial ability, obscene concentration of wealth in a few hands facilitated by economic theory. Economist must fix this machine to let wealth flow from top to bottom, not the other way around.
Right after the speech, Professor Yunus had a one on one meeting with the Indian President to discuss the issues raised by Yunus during his speech during the inaugural session. Indian President invited Professor Yunus to meet him at the Rashtrapati Bhavan, official residence of the President to discuss in details about the issues.
Around 5000 high profile dignitaries including civil servants, researchers, and economists participated at the inaugural session of the conference. The 100th conference of Indian Economic Association which is being held at Acharya Nagarjuna University will end on December 30, 2017. Vice-President M. Venkaiah Naidu is likely to attend the valedictory of the event.
Yunus' book A World of Three Zeros is being sold at the conference venue. Professor was mobbed by university professors, Civil servants and students to take pictures with him. Many of them teach microcredit in their departments or involved in research on microcredit.
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