Institute of Chartered Accountants of India (ICAI) Kuwait Chapter organized a conference titled `’Journeys of extraordinary wealth creation in India’ iat the Radisson Blu Hotel on 21 May.
Keynote speaker at the event was renowned Indian value investor, Chairman of DMart, and member of the Bombay Stock Exchange,. Ramesh Damani. Indian Ambassador to Kuwait H.E. Sibi George, was the chief guest, and the guest of honor was Chief Executive Officer of Kamco Invest, Faisal Sarkhou.
The event began with the rendition of the National Anthems of Kuwait and India, followed by a Natesha Kautwam dance performance by two young performers Nitya and Tanishka, daughters of CA Sai Devata. Chairman of ICAI Kuwait chapter CA Deepak Bindal in his welcome address, gave a brief overview of the professional, cultural, sports, and community welfare activities of the chapter over the last two years.
For his part, Ambassador George reiterated India’s place in the global pecking order and the friendly business and trade ties between India and Kuwait. He made special mention of the emergency sea and air corridor set up during the peak of the COVID-19 pandemic to send essential oxygen supplies to India.
In his comments on the occasion, Mr. Sarkhou acknowledged the contributions of the Indian chartered accountants to the field of finance, accounting, and audit. He touched an emotional chord with the audience by recounting an anecdote about his grandfather’s sea travels to India for trade and commerce back in the 1950s and 60s and how Kuwait and India’s ties have evolved over several generations.
In his keynote address, Mr. Damani made a case for starting an investment portfolio early in life and spoke passionately of what he called the eighth wonder of the world, ‘compounding’, and how to benefit from this. He spoke about traits that distinguish a successful investor from an ordinary one, including conviction, temperament, patience, belief in long-term growth, avoiding short term distractions, and not having regrets about missing out on a good idea.. He also noted that India has seen exciting times in the last 30 years and he expects the next 30 years to be even better if not the same as the past 30 years..
CA Gyanesh Tiberwal then conducted a quiz for the audience. The winner of the quiz was CA Sujith Ronghe. The Vice-Chairman CA Sriram Gopalakrishnan delivered the vote of thanks by thanking the members and special invitees for gracing the occasion and requesting their support to conduct more such events in the future. The evening ended with a sumptuous dinner catered by the Radisson hotel.
The chapter also thanked its event sponsor ‘Protiviti’ and its annual sponsors, Al Mulla Exchange, Oracle, and NBK for their continued patronage.