His message to the IMI Students Body was concise – “….While emphasis in your MBA programme is more towards preparing you for business management, I suggest that you should not overlook the challenges and opportunities for improving management in almost all segments of Indian society, going much beyond the corporate sector.”
Dr. C. S Venkata Ratnam, Director, IMI in his welcome address added “We are pleased and honored to have Mr H S Singhania here at IMI. Our students are amongst the top business talent in India, and we are privileged to be able to present to them such a distinguished luminary as in Mr. Singhania to share his vision and experience with all students. Mr. Singhania’s experience, practical knowledge, and deep understanding of business practices are all invaluable insights for students of IMI as they enter a highly competitive global marketplace.”
Mr. H S Singhania said “We are proud of our democracy. We are exuberant of our rights but more often than not we forgot our responsibilities and obligation to the society. This attitude has to be changed if India were to become a great nation. Some times political expediency takes precedence over economic logic but it is up to you to bring about a change, where good economics make good politics.”
He added, “ We are already the third largest economy in the PPP terms. The world seems to have discovered India all afresh. On the ground also we see tremendous changes all around. Globalization is no longer a theoretical concept but a borderless world has really emerged and India is truly now a part of it.
The potential growth of consumer demand, particularly the middle class is not merely an imagination of mind but seems to be happening. A recent study, namely “the Bird of Gold’: the Rise of India’s Consumer Market” done by McKinsey Global Institute suggests that if India continues on its current high growth path over the next 20 years, our income level will almost triple and India will climb from its position of the 12th largest consumer market today to become the world’s 5th largest market by 2025.”
He concluded by saying “A major weakness with us is the lack of team spirit. We have to shed our egos and become a part of the team. The challenge ahead is indeed formidable and requires pooling of our energies and strengths. It is the team work that succeeds, whether it is in cricket, in business or in nation building.”
During the discussion, Mr Hari Shankar Singhania said that the one secret to success is hard work and the one change he wishes to see in every Indian is the belief that ‘the change should begin with me and I can make a difference.