National

Study Tour (17th Sept to 22nd Sept 2019)

Mumbai & Ahmedabad

School of Economics

About MIT-WPU

MIT-World Peace University (MIT-WPU) is known to be among the top education institutions in

India since the establishment of the MIT Group of Institutes in 1983. The ‘MIT World Peace

University’ is recognized by the UGC under the Govt. of Maharashtra Act XXXV 2017, since

2017. Today MIT-WPU is at the epicenter for imparting a holistic value based education for the

promotion of a universal culture of peace and welfare among the youth.

Witnessing rapid growth & expansion the MIT Group now encompasses 10+ campuses across

India covering more than 1000 acres, all equipped with state of the art infrastructure and amenities.

At any given point of time, more than 50,000 students are pursuing various courses across 65+

Institutes of MIT World Peace University.

Vision:

To be a leading University of Excellence, promoting the “Culture of Peace” through Value-

based “Universal Education System”, with a firm belief that “Union of Science and

Religion/ Spirituality alone will bring peace to mankind”.

To be a world class space of intellectual distinction in creating extensively trained

professionals who will stand for eternal human values and world peace as complete global

citizens.

Mission:

To create a synergy of academics with technology, technology with research, research with

industry, industry with economy and economy with social innovation, leading to world

peace and positive change in the society

To identify, enhance, hone and nurture the strength of every student to apply scientific

knowledge to touch the life of human beings

To foster the spirit of inquiry and imagination in students, to push the envelope of human

knowledge and come up with innovative and ground-breaking solutions for well-being of

the world

To create value and intellectual capital for society that will act as a prime mover for

development of the society

To promote the ‘Idea of India’ by sensitizing students about the ethos of democracy, vision

of leadership and culture of good governance

Co-creation and partnership with individuals and organizations that can support students

realize their supreme potential

MIT-WPU has always emphasized on the importance of holistic education. It has always strived

hard to ignite the young minds with the synergy of academics & technology, research and

innovation with the industry. To accomplish this mission School of Economics organised a

“National Tour” to Mumbai & Ahmedabad during the period of 17th to 22nd Sept 2019. The

National Tour helps the students to gain valuable insights from industrial experts into current

economic environment and an encouragement to become an entrepreneur. It helps the students to

get acquainted with the various problems that the industry faces and to develop an inquisitive mind

to find out of box solutions. The study tour also helps the students to realize the importance of

regulatory framework, policy making and understand the various models imbibed by the premiere

institutions for imparting education with various learning techniques. It develops in them the

ability to understand the risks involved in any industry and the efforts and understanding required

to achieve success.

Objectives of the Educational Tour:

In the pursuit of excellence and continuing with the MIT-WPU vision & mission, this Educational

Tour helped our economics students to have valuable exposure to real life situations and learning.

This tour has had a long lasting impact on our students regarding their obligations to the society

and how to utilize the academic skills for the betterment of the nation. Besides this the broad

outcomes of this tour are as follows:

a) To have deep insights into business economic environment & entrepreneurial culture of

New India.

b) To understand real life intricacies of resource planning & factor management

c) To get acquainted with the learning practices & pedagogical features pursued by top- notch

institutes such as EDI

d) To synergize the vision & mission of MIT-WPU with the rich heritage of peace & harmony

of Gandhian Philosophy

Participants in the National Study Tour: Batches 1& 2 (TYBSc and SYBSc)

Sandeep Saini Shivang Bhardwaj Trisha Bhandiwad Dhruvi Kothari

Akash Kore Pranil Pande Isha Dhadwe Sakshi Gupta

Annant Varma Rishab Agarwal Smriti Sriram Anshika Singh

Kshitij Patil Rishabh Rai Anushka Jahagirdar Rinkey Bandewar

Meeth Gaikwad Sandeepan Chatterjee Ritika Chirekar Palak Kucheriya

Kaunteya Pisolkar Raunakbabu Lohiya Aastha Laroiya Sanika Thakur

Kunal Mandhare Nishad Nagpure Shruti Somani Samiksha Jagtap

Nishad Kadam Mohit Hardikar Saloni Screwvalla Nisha Parwani

Jay Paranjape Sourav Choudhary Shreya Anturkar Vasundhra Shinde

Aditya Nair Manthan Rajpurohit Mugdha Rege Shefali Choudhary

Janmejay Bhaskarwar Sunay Pistulkar Sachi Kotwal Shreeya Shah

Ajit Majage Sunny Bagul Akshita Sawant Nehal Jain

Mitesh Kumar Tanmay Rathod Rutuja Jagtap Siddhi Shah

Suraj Pandey Zakir Bakshi Riya Madnani Shrestha Mishra

Piyush Rai Sachet Raj Akansha Gandham Madhura Dhumbre

Vighnesh Nair Prangya Bhanj Aayushi Chaudhari Deepika Jain

Swapnil Trivedi Nupur Saraiyar Apoorba Nayak

Bhavik Kadam Amruta Joshi Gayatri Jarang

Abhishek Bisht Akshata Nete Vanya Nigam

Tanmay Shirsat Anjali Mhamane

Savyasachi Pandey Aashna Bhardwaj

Prathamesh Chaudhari

Nupur Jain

Shuddhasatta Chowdhury

Devyosha Singh

Table of Contents

Sr. No. Particulars Page Number

1. RBI Monetary Museum 2

2. Interaction with Mr. Harshad Aradhi 5

3. Visit to Parle factory 8

4. Visit to Ahmedabad Stock Exchange 10

5. Visit to EDII 11

6. Visit to GIFT City 15

7. Visit to Adani Wilmar 18

8. Visit to Adani Port 23

9. Interaction with Mr. Dishant Sangwaria 25

10. Visit to Sabarmati Ashram 28

1. RBI Monetary Museum

(Students at RBI Monetary Museum)

(Students at RBI Monetary Museum)

Our first stop on the National Study Tour was RBI Monetary Museum. The Students explored the

evolution of money through artifacts & exhibits of currency notes & rare coins. A short film was

shown to the students Titled: “1770 to the Present”. The year 1770 holds particular significance

because we see the inception of Paper currency in India for the first time by the British.

The students also interacted with the curator of the museum. The conservator explained to the

students the need for the introduction of paper currency, various safety features introduced & why

the need was felt to introduce different color combinations on various denominations. The

discussion further ventured into the simple yet fundamental questions like what is money, its

characteristics and how each country’s currency exchange rate is determined.

Learning Outcomes:

Evolution of Paper Money

Evolution of Bonds and other financial instruments

Factors affecting Exchange Rates of a country

The genesis of Fiat currency

(Students at RBI Monetary Museum)

2. Interaction with Deputy Commissioner of Income

Tax Mumbai, Harshad Aradhi

(Students felicitating Mr. Harshad Aradhi, Deputy Commissioner of Income Tax)

The students gained deep insight into the different pillars of the economy from the taxman’s

perspective. The guest stimulated the minds of the students on the various topics like: direct tax,

indirect tax, black money, strategies adopted by the tax department to tackle corruption, tax

evasion, money laundering & the role played by the economist in the whole affair. The question

and answer session held after the lecture tickled the analytical nerve of the students.

Learning Outcomes:

Need to impose Income Tax

Difference between direct and indirect tax

The inner workings of the tax department

The different methods and techniques used by the tax department to find out defaulters and tax

evaders.

The methods used to calculate the tax liability of different individuals.

(MIT-WPU School of Economics students with Mr. Harshad Aradhi)

(MIT-WPU School of Economics students with Mr. Harshad Aradhi)

3. Visit to Parle Factory, Ahmedabad

(Mr. Bhupendra Patel HR of Parle factory addressing the students)

The students visited the factory of Parle, a renowned biscuit manufacturer in India, at Ahmedabad.

Mr. Bhupendra Patel from the HR department of the factory explained the overall operations and

functions of the factory. The students enquired about the factors considered in the costing of each

packet of the much loved biscuit.

The visit to Parle Factory was truly an enchanting experience where the students got acquainted

with the process of making biscuits.

Parle is using a commendable 176 meter oven that bake the biscuits within 4-7 minutes.

Raw Material Extraction, Moulding, Baking, Cooling and Packaging processes were exhibited.

The visit was a great learning experience from the point of view that Parle plans to further

manufacture Parle G in this phase of stiff competition and also maintaining high sales figures.

(Mr. Bhupendra Patel HR of Parle factory interacting with the students)

4. Ahmedabad Stock Exchange:

The visit to the Ahmedabad Stock Exchange enabled the students to understand the functions of

the stock exchange. It brought to their knowledge the various market participants and the various

mechanisms utilized by them of invest in the market.

Learning Outcomes:

Stock Market intricacies

Purpose of Stock Market

Various market participants

Stock Market as a rotator of money (Faster movement denotes efficiency)

Investment and financial assets

Financial markets and Instruments

Money and Fixed Income Markets

Equity Markets

Returns on Investment

Trading Vs. Investment

Portfolio Allocation

Bond market

Interest rate affecting the Stock Market

Present day Investment environment

Macro factors National and International affecting the markets

5. EDII:

(Students at EDII campus)

The Entrepreneurship Development Institute of India is supported by the Government of India, its

various ministries, RBI and various banks such as ICICI, IDBI etc. The premier organization was

set up in 1983 with the objective of creating and helping entrepreneurs in India. Fort like

architecture of the edifice and spacious lush green lawns in the campus symbolizes broad, open

thinking and a firm resolve –both necessary attributes for any entrepreneur.

The first session was conducted by Dr. Sanjeev Chaturvedi. The students got to know the essence

of entrepreneurship and its importance in India. They were informed about the various functions

of how EDII works and their role in helping aspiring entrepreneurs. The students were also

informed about the risks involved in being an entrepreneur. The chances of success for an

Entrepreneur is 8% and 92% of the people who fail in the business die within 3 years of failure of

the business because of Financial Stress and other obligations.

The second session was conducted by Dr. Sajjikumar on the importance of economic and how it

explains almost everything. Knave’s theory, cost-benefit analysis and utility maximization were

discussed. Students were also given insights on the opportunities in EDII.

(Students felicitating Dr. Sajjikumar Faculty, EDII)

Learning Outcomes:

Economics and everything

Start-up and Budding Entrepreneurship

Essence of Entrepreneurship

Risks involved in Start up

Financial aspects in start-up industry

EDII- functions and role in helping aspiring entrepreneurs

Knave’s theory

Behavioral Economics

The Invisible hand

Cost benefit analysis

(School of Economics students with Dr.Sajikumar Faculty at EDII)

(School of Economics students felicitating Dr. Sanjeev Chaturvedi Faculty at EDII)

(Group Photo with Dr. Sanjeev Chaturvedi Faculty at EDII)

6. GIFT City:

(Students at GIFT city with Mr. Meg Shah, HR GIFT City)

Gujarat International Finance Tec-City is a business district promoted by the Gujarat government

through a joint venture company. GIFT City is India's first operational smart city and international

financial services center.

GIFT is an operational smart city developed in the Ahmedabad metropolitan region as a Greenfield

development. The project includes features like a district cooling system, underground utility

tunnel, and automated vacuum waste collection. The city is designed for walkability and includes

commercial and residential complexes.

The project is located on the bank of the Sabarmati River and is around 12 km (7.5 mi) from

Gandhinagar international airport. GIFT is easily accessible from all directions through 4-6 lane

State and National Highways. A double corridor metro system is planned to connect GIFT City to

the nearby airport and various parts of Ahmedabad and Gandhinagar

GIFT City is India’s first Greenfield operational smart city and international financial services

center on 886 acres of land. This model could be replicated at different places in the future. It has

Residential apartments, schools, hospitals, hotels, clubs, retail and various Recreational facilities.

It also consists of a conductive Multi Service SEZ and an exclusive Domestic area.

Through the interaction with the authorities the students got to learn why such a developmental

area was required in India. The main purpose was to bring back capital and generate employment

and prosperity in our country. To support the cause Government even granted a special tax holiday

of 10 years out of the 15 business years. Vertical approach was adopted to construct all the

buildings. The students even got to see the energy efficient district cooling system along with the

automated waste collection system on the campus tour. It was an amazing experience for all.

Learning Outcomes:

About Financial Tech City

Tax holidays and other incentives

Solid waste management

Investors, stakeholders and companies set up in GIFT City

Other amenities in Gift City

(Students interacting with the management of GIFT City)

7. Adani Wilmar:

(School of Economics students at Adani Wilmar)

(Students interacting with the management at Adani Wilmar)

(Group Photo at Adani Wilmar)

On 20th Sept the students of MIT-WPU visited Adani Wilmar refining facility.

Adani Wilmar Limited (AWL) is a joint venture incorporated in January 1999 between Adani

Group, a the leader in International Trading & Private Infrastructure with businesses in key

industry verticals such as resources, logistics and energy, and Wilmar International Limited –

Singapore, Asia’s leading Agri business group. The Group was created with a vision of ‘Nation

Building’ by developing assets of national economic significance. Wilmar’s business activities

include oil palm cultivation, oilseed crushing, edible oil refining, sugar milling and refining,

specialty fat, oleo chemical, biodiesel and fertilizer manufacturing and grain processing. It has

over 850 manufacturing plants and an extensive distribution network covering China, India,

Indonesia and 30 other countries.

The joint venture kicked off with the commissioning of India's first port-based refinery at Mundra

in Gujarat and similar units were developed in other locations.

Adani Wilmar has the largest portfolio of brands in the consumer essentials edible oils segment.

The brand Fortune tops the consumer’s choice in branded edible oils. Today, the firm is present in

various categories of oils such as soyabean, sunflower, mustard, rice bran, cottonseed, groundnut

and blended oil

The students got to know the various operational activities from the HR Management.

(Mr. Sonalkumar Arora Unit HR Head at Adani Wilmar addressing students)

(Students felicitating Mr. Sonalkumar Arora, Unit HR Head at Adani Wilmar)

Learning Outcomes:

Raw material used in the production of oil

Manufacturing process of fortune oil (India’s well known oil brand)

Product Line

Logistics for B2C and B2B models

(Students and faculty of School of Economics with the Management of Adani Wilmar)

8. Adani Port:

(Ships loading at Adani port)

On 20th of Sept 2019 the students of MIT-WPU were fortunate to visit Adani port. It is India’s

largest private port.

Adani Ports and Special Economic Zone Limited (APSEZ) is the largest commercial ports operator

in India accounting for nearly one-fourth of the cargo movement in the country. Its presence across

10 domestic ports in six maritime states of Gujarat, Goa, Kerala, Andhra Pradesh, Tamil Nadu and

Odisha presents the most widespread national footprint with deepened hinterland connectivity.

The port facilities are equipped with the latest cargo-handling infrastructure which is not only best-

in-class, but also capable of handling the largest vessels calling at Indian shores. The ports are

equipped to handle diverse cargos, from dry cargo, liquid cargo, and crude to containers.

The students got to know about the various terminals on the port. The electricity generated here is

transmitted till Haryana. Also the students learned that the Crude Oil ships never dock at the port.

These ships are heavier so they are 14km away from the shore and the oil is transported by

pipelines.

The students also got to know how economist would be able to perform different roles in such a

organization like how to accommodate maximum imports or exports within the given land or the

opportunity cost of giving up import of one commodity for the other.

Overall it was a great learning experience.

Learning Outcomes:

Port functions

Docking System

Permits and different rules and regulations

Multipurpose terminals for petroleum, crude oil and natural gas

Docking facilities.

Warehousing facilities.

9. Interaction with Ex CEO of Ahmedabad Stock

Exchange.

(Mr. Dishant Sangwaria interacting with the students of School of Economics)

On 21st Sept a guest session was organized for the students.

The topic for the session was Indian Economy in general and Stock Market in particular.

The guest lecturer was Mr.Dishant Sangwaria who is a former CEO of Ahmedabad Stock

Exchange.

The students learnt about the different segments of the market, their contribution to the overall

GDP and employment generated.

The students also learnt about the function of the stock market and the various participants

involved in it. The stock market improves the efficiency of the market. The lecture harped on the

idea that student of economics should be market participants in the years to come. The honored

guest also explained the different instruments of investments like stocks, bonds, NCDs etc. The

role played by the different market regulators is important to improve the efficiency of the overall

economy.

Learning Outcomes:

Stock Market

Primary and Secondary market

IPOs and FPOs

Equity and Derivative products.

Laws that govern the Stock Market

Trading and Settlement process

Criteria for a company to get listed

Different participants in the market

(Students in Rapt attention at the guest Session of Mr. Dishant Sangwaria)

(Student felicitating Mr. Dishant Sangwaria)

10. Sabarmati Ashram:

(Name Plaque at the entrance of Sabarmati Ashram)

A visit to Ahmedabad would not be complete without visiting Sabarmati Ashram. Nestled along

the banks of the river Sabarmati, the ashram epitomizes a tranquil, serene life in harmony with

nature. The Ashram has borne witness to the Indian freedom struggle and the students acquainted

themselves with the various personalities who contributed to the freedom movement.

The principles of Satyagraha, non- violence and peace are etched in every stone of the Ashram.

The students could corroborate with these principles as our very own institution revers and bides

by them.

Learning outcomes:

Gandhian Values

Gandhian Philosophy

Cottage industry

Satyagraha

Minimalism

Sustainable model

(Group Photo of the students at Sabarmati Ashram)

(The Charkha used by Mahatma Gandhi at Sabarmati Ashram

Concluding Remarks:

The National Study Tour was a grand success and an enriching experience for the Students of

Economics. It provided them with hands on experience in the various aspects of Industrial

Operations. The students though acquainted with the idea of entrepreneurship got to know about

the various risks and opportunities involved in starting a business. At the Monetary museum the

students learnt about the difference between cost, price and value. They got to know about the

evolution of money from coinage to paper. The visit to Adani port and Adani Wilmar factory

augmented their production and operational knowledge. Though familiar with Gandhian

Philosophy and Ideas the students were reminded that the application of these principles to the

economic structure was the need of the hour for sustainable development.