Mahindra & Mahindra chairman Anand Mahindra on Saturday asked fresh graduates of IIM-A to embrace the "age of entrepreneurship" which is at hand.
"India is witnessing a dramatic rise in the number of young people who have earned a good technical or business education," Mahindra said in his convocational address at a function in Ahmedabad.
"Second is the phenomenal rise in the value of our market capitalisation, which provides the incentive to these young people to stay on in India and look for the payoff right here at home," he said.
He said since 2007, Indians have founded 8% of all technology and engineering start-ups in the US, and 14% of all Silicon Valley companies. "...Obviously we have entrepreneurship in our DNA," Mahindra said.
"The third is the much awaited sprouting of venture capital firms and networks, which provide the necessary fuel for start-ups," the Mahindra & Mahindra chairman and managing director said.
"I say the age of entrepreneurship is upon us, and I urge you to embrace it. If an IIM grad does not showcase the 'next big thing', then who will?" he asked.
"You all were schooled at a time when no subliminal signals of inferiority were sent out to you," he said.
Sharing his vision, Mahindra said, "You have been students during an era when India's star is on the ascendant".
"You grew up and studied at a time when the world's gaze was on India, and investors began flocking to it. A time when the world believed that India was pregnant with the potential to become an economic superpower," he said.
IIM-A board of governors' chairman and group executive chairman of Larsen and Toubro A M Nayak told students they are graduating at the time when the global economic scenario is changing.
"The indicators for the world economy suggest that after several years of extreme weakness, high-income economies appear to be finally turning the corner, contributing to a projected acceleration in global growth from 2.4% in 2013 to 3.2% this year," Nayak said, adding it is further expected to increase to 3.4% in 2015, and 3.5% in 2016.
"On the domestic front, with elections round the corner, we are going through the periodic churn that all democracies around the world go through," he said.
"In our case, the upheaval that we experience may be a little more pronounced than elsewhere but essentially this is part of the baggage of our system," Nayak said.
Director of IIM-A Ashish Nanda said, "Even as we face competitive challenges and have high ambitions, we remain unflinching in our commitment to providing a transformational educational experience to our students and developing relevant knowledge on the frontiers of practice and policy".
While wishing the farewell to the students Nanda said, "this convocation is a commencement, a point that marks an ending and a point that marks a beginning."
A total of ten students received the title of fellow programmer in management, 388 students received diploma of post graduate programmer in management, 41 students received the PG diploma in ARI business management and 85 students received diploma in post graduate programmer for executive.