Lamenting on lack of ethical values and moral leadership in Indian businesses on Tuesday, Chairman and Managing Director of Reliance Industries Limited, Mukesh Ambani, who is also the Chairman of Indian Institute of Management, Bangalore (IIMB), on Tuesday asked its students to provide moral leadership to Indian business.
"You (students) need to provide moral leadership to a world yearning for change, to Indian businesses which lack the enduring ethical and moral values", he said in his remarks at the 33rd annual convocation of IIMB.
Reiterating the necessity to build leadership in every walk of life for a country like India, Ambani said "nothing in life of a nation or a company is inevitable. Even when opportunities knock at the door, the outcome will depend on the crucial factor of leadership. There is a need to redefine leadership in all waks of life".
In the coming years two-thirds of the world GDP will come from emerging Asia. India is on the way to become a major economic power and is the fastest growing free market country. "The 21st century is poised to become the Indian century", he remarked.
Describing institutes like IIMs as "cradles of global leadership in today's knowledge economy", he said "this institute is turning out students of great calibre and potential. The knowledge gained in this institute will play a significant role in whatever challenges they face".
Going down on a nostalgic trip, Ambani termed the graduation ceremony as an "unforgettable landmark in one's life, beginning of a new voyage".
Earlier the Institutes's Director Pankaj Chandra said IIMB, which has student exchange programme with 85 partner institutes in 24 countries, during the year has 13 new partner institutes joining the programme including the Johnson School at Cornell University.
The Institute, he said, provides two-year Post Graduate Programme in Management (PGP) equipping the students with conceptual and analytical skills, capabilities and perspectives that will enable to reach global leadership positions.
"IIMB is the only leading Institute in the country where almost all of our students undego a global experience through summer internships, international business in practice and the exchange programmes".
Conferring the title of Fellow of Indian Institute of Management Bangalore on eight students, Chandra said, during this academic year, three doctoral students have been recipients of fellowships instituted by Infosys, EADS-SMI and SAP Lab.
Of the 266 students who were looking for campus placements this year, all students have found jobs of their choice with top Indian and international firms. "Many top firms recruited at IIMB more than what they have ever done on any campus in India", he said.