If you succeed in India, you succeed anywhere: PM at IIM-A

Motivating management graduates to become global leaders at the 46th annual convocation of the country’s premier B-school, the Indian Institute of Management - Ahmedabad (IIM-A), Prime Minister Manmohan Singh today emphasised the country’s significance as a training ground for managers.

The convocation saw Gujarat Governor Dr Kamla Beniwal and Chief Minister Narendra Modi sharing the dais with the Prime Minister.

In his convocation address to the 46th passing-out batch today, Singh touched upon various issues including the progress after economic reforms, quality of the Indian managers and the potential rural markets in the country. Taking note of the country’s progress over the past 20 years, since the economic reforms took place in the early 1990s, the Prime Minister said: “The path was new, the challenges were formidable, the outcomes were uncertain. But our resolve was strong and our goals were clear. The reforms of 1991 were aimed at unleashing the animal spirits of Indian enterprise and the wellsprings of Indian creativity. Today, the success of the reforms is evident.”

“We have long since left behind the era of modest savings, low investment and low growth. Our savings and investment rates give us confidence that we can, with prudent policies and sound economic management, achieve sustained double-digit growth. India has gradually become one of the most preferred global destinations for foreign investors,” said Singh while reminiscing about the economic reforms he steered as the then finance minister in 1991.

Speaking to the future managers and builders of India Inc, Singh asked them to be thoughtful in spreading their wings to foreign markets.

“The pace of reform in India will depend on how far our policies meet the test of democratic consensus and take into account the vulnerabilities of different sections of our population. We should recognise that our high growth is not sustainable unless it is made more inclusive in a manner that helps reduce social tensions and disparities,” said Singh, who was delivering his second convocation address at the IIM-A after 1994.

Recognising the emergence of rural India as a potential participant in the country's growth story, Singh mentioned that the citizens of rural India were being newly empowered and innovation was no longer the preserve of industry, but increasingly a means of addressing our pressing economic and social challenges.