“ISB is a centre of Excellence” Says President Bush

The Indian School of Business (ISB) hosted the President of the United States – Mr George W Bush – on March 3, 2006, amidst the presence of the students, faculty and management of the School. Dr Condoleezza Rice,Secretary of State, Mr David C Mulford, Ambassador to India, Mr David T Hopper, the Consul General from Chennai, and a few other officials visited the ISB along with the President.

Rajat Gupta, Chairman of the ISB (Past Managing Director of Mckinsey and Senior Partner Worldwide), received the President along with Professor M Rammohan Rao, Dean, ISB. In an exclusive meeting, the Chairman and the Dean briefed the President about the history of the ISB, and the remarkable progress that the school has made since the five years of its establishment. “We are delighted that President Bush has chosen a premier management institution like the ISB for his visit. This is indeed a prestigious event for us,” said Rajat Gupta.

“The ISB has emerged as a world-class business management institution within a short span of time. We have highlighted the success of our one year post graduate management programme to the President. We took the opportunity to emphasise our focus on entrepreneurship and cutting-edge research, especially relevant to emerging economies,” said Dean Rammohan Rao.

President Bush was visibly impressed by the ISB campus, and with the ISB students. Two ISB students from the Class of 2006, Rajesh Mani and Ruchi Bansal, had earlier greeted President Bush on his arrival. The President also interacted with other faculty, students, and members of the ISB community.

“One of the reasons that I wanted to come to the ISB is that, as I understand it, it is a Centre of Excellence in education. It is a new school using innovative tools necessary to succeed,” said President Bush on his visit to the ISB on March 3, 2006. “I am honoured to be at the ISB,” he added.

The President then addressed a gathering of the entire ISB community of faculty, staff, and students at the Atrium of the ISB’s Academic Building. President Bush fielded questions, and spoke to the gathering in a relaxed manner.

Following are some of the comments the President made during his visit.

On India:

“Yesterday, I had the honour of standing on the stage with your Prime Minister talking about a new relationship between the US and India. I am excited about our strategic partnership. I’m equally excited about the future of India.”

“It is in the interest of the United States to be friends with India , it is in the interest of the United States to work for a free and fair trade with India.

“It is in the interest of the United States that an entrepreneurial class grow in this great country. It is in the interest of India that an entrepreneurial class grow in this country so that people can realize their dreams and find good jobs.”

“I said something interesting, at least I thought it was interesting, otherwise I wouldn’t have said it, in a speech I gave in Washington, I think that it’s interesting that India’s middle class is 300 million large – as large as the entire United States.”

“India is a great democracy which is capable of having people of different religions live side by side in peace and harmony. It is a wonderful opportunity to trade (with India).” “One of the things that you can judge a country by is the vitality of the youth and one of the reasons I wanted to come to ISB because I understand it is a Centre of Excellence in education.”

On the Entrepreneurship Centre at the ISB:

President Bush reserved some more praise for the Entrepreneurship Centre at the ISB. He said, “It’s hard to teach people to be risk takers, and you have professors here who give you the tools to be risk takers.”

Earlier, he had told Professor V Chandrasekar, Executive Director, Wadhwani Centre for Entrepreneurship Development (WCED), “You’ve got a great thing going!”

Anjali Patel, a student from the ISB Class of 2006 was in the roundtable for entrepreneurs addressed by the President. She is the President of the Net Impact Club at the ISB, and told the President that she runs the social enterprise club with a lot of help from the faculty, the Entrepreneurship Centre, and the student body of the ISB. She also talked to the President about “compassionate capitalism” consisting of “providing venture capital funding to small businesses and social entrepreneurs so that they can sustain themselves.

About the ISB

The Indian School of Business is a research-oriented independent management institution that grooms future leaders for India and the world. Its association with the Kellogg School of Management, The Wharton School, and London Business School make it one of its kind in Asia. The School offers a one-year Post Graduate Programme; short-duration, high-powered Executive Education programmes for CEOs and senior executives; and a two-year Research Fellowship Programme. The origins and distinctive research of our faculty members ensure that our programme content is contemporary and global in its perspective, and develops our students’ understanding of modern management opportunities and challenges.