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Aurangabad: “ India is aiming to march towards a $ 5 trillion economy by 2024. There is need to adopt a balanced and inclusive approach so that indigenous knowledge, resources and technology are well adjusted in a system where marginalised and vulnerable local and traditional communities can play a dynamic role in these efforts,” said Dr Sasmita Samantha, president of Indian Commerce Association (ICA) and vice-chancellor of KIIT University of Bhubaneshwar.She was speaking at the inaugural ceremony of the three-day All Indian Commerce Conference on ‘India’s March Towards $ Trillion Economy by 2024’ being held at the university campus on Thursday.VC of Bamu Dr Pramod Yeole presided over the ceremony. ICA secretary Pushpendra Mishra, CMD of Badve Group Shrikant Badve, Mans Pande, Naval Kishor, VC of Kerala Central University H Venkateshwarlu, Principal T A Shivare, coordinator Dr Syed Azharuddin graced the ceremony.Dr Sasmita Samantha said bioresources, biodiversities and indigenous knowledge would play a vital role in the socio-economic growth of our nation.She said that local people have preserved the country’s tremendous biodiversity, and the efforts to preserve it must take vertically and horizontally due to increasing industrial transformation.“Indigenous knowledge is the development of the knowledge, innovations and practices by the local communities from the experiences gained by them since immemorial through trial-and-error endeavours. The Indigenous communities being instrumental in passing this knowledge to successive generations includes masses of amateurs, conventional householders, farmers, sheepherders, crafts worker, performers and priests,” she added.Various technical sessions are being held. Director of Reserved Bank of India (Mumbai) Satish Marathe, industrialist Ram Bhogale and chairman of Dr Ambedkar Nagri Bank P B Ambhore were present in the first session.Earlier, organising committee secretary Dr Walmik Sarwade made an introductory speech. More than 1500 delegates from different parts of the country have arrived to participate in the conference.Shirkant Badve said that the industrial sector has a big responsibility to turn the dream of a $ 5 trillion Indian economy into a reality in 2024.Box12 VC attending conferenceVice-chancellors of more than 12 universities are attending the conference. The names of some of the VCs are as follows; VC of Tripura Central University G P Prasain, VC of IGNOU Nageshwar Rao, VC of Rani Channamma University Ramachandra Gowda, VC of Deendayal Upadhyaya Shekhawati University, MGM University Dr Vilas Sapkal and VC of Kerala Central University H Venkateshwarlu.

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