Union Finance Minister's Speech at Annual Convocation of IMT, Ghaziabad
March, 19th 2012
Union Finance Minister's Speech
Institute of Management Technology (IMT), Ghaziabad(UP)
March 17, 2012
I am very happy to be here today at the Annual Convocation of this
prestigious management school. I would like to begin by congratulating
the students who have completed their education from this institution and
stand at the threshold of a new innings in life. This day belongs to all of
you. This day is meant to recognize your efforts, your hard work, and
your achievements. You must all be looking forward to a successful
working career ahead.
2. Let me also congratulate the management of IMT for sustaining the
academic standards of your institution, even as it has spread its wings
with campuses in several places. I am told that besides Ghaziabad you
now have presence in Nagpur, Hyderabad and Dubai. I commend the
institute for making available quality management education to desiring
and deserving students, closer to their homes.
3. Today as some of you are transiting into a new life where you
would be engaged in your chosen professions or in the pursuit of further
academic work, it is perhaps time to contemplate the values you take
with you, the expectations you have of the world, the opportunities now
opening before you and the aspirations that you have nursed all these
years. It is also time to think about what you would like to do for your
society and the country at large.
4. The phase of your lives that many of you are now entering could
be both fulfilling and exciting and at the same time even challenging.
What you make of this phase in your life depends on how you approach
it. A positive outlook with good work ethics should see you all happy and
professionally successful. There is no dearth of opportunities in
professional and public life; you will have your fair share too. It would
make a difference to the nation building process if you see in the
opportunities that come your way a means to contribute to public well-
being as well.
5. One of the objectives of a MBA Course is to bring together skills
and knowledge to make a socially responsible and knowledgeable
business person. A business graduate is expected to have "hard skills"
of economics, finance, marketing, operations management and
accounting, as well as the "soft skills" of leadership, teamwork, ethics,
and communication that are so critical for effective management.
6. Human resource is perhaps the most critical of all resources a
nation needs to grow and develop. It is also true for an emerging country
like ours. We face myriad problems not just economic, but social as
well. We need leaders, we need entrepreneurs, we need socially
responsible corporate citizens and we need business management savvy
civil servants. And most importantly, we need the best among you to
dedicate yourself to be the teachers for the future generation. You need
to choose your calling and base your selection on sound judgment.
7. India today is a vibrant economy. During the past three decades,
our country has undergone a major transformation. It has joined the
ranks of major emerging market economies with a place on the global
high table of policy makers. It is one of the major engines of global
growth. The largest and the best multi-national companies are vying to
do business in India. At the same time, Indian industrial houses are
becoming global powerhouses. Many of them have earned respect and
recognition in the international business community. India today is one of
the preferred destination for Foreign Direct Investment and at the same
time, many countries of the world are seeking to attract Indian
investments for the technology, human resources and business ethics
that the Indian companies bring along with them.
8. We still have a long way to go. There are several areas that we
need to focus on. We have to sustain high growth over extended period
of time to create rapid increase in employment opportunities and reduce
poverty. We have to educate and up- skill our growing workforce to
improve their employability and living standards. India needs to convert
the advantage of having a growing working population into a permanent
driver of economic growth by nurturing it and endowing it with
appropriate skills. The availability of skilled manpower will itself attract
investment both domestic and foreign and take productivity to newer
9. Globalisation offers us new opportunities but also several
challenges as well. The developed world especially the Euro zone is
going through a period of uncertainty. I don't need to dwell into the crisis.
The US economy has not been able to recover fully from the earlier
financial crisis. The growth rate in the Asian economies has also been
slowing down. In these difficult and uncertain times, the world is looking
at Asia and countries like India and China to steer the world economy
out of trouble.
10. Those of you, who are graduating today are therefore, going to
face the world with an unique advantage. I confident that the world class
training that you have received from this prestigious institute would be of
great help to you in future irrespective of whether you choose a career
in business, academics or government. I am also sure that you will do
justice to the education you have received and would give back to the
society much more than what you have received.
11. I appeal to you to adopt the values of Indian education to build
your character and conduct congenial to the social life of our nation and
to build up your self confidence in pursuing your prospects. May you
bring reason and hope to all whom you touch in your professional and
personal lives and may you make your work deeply rewarding and truly
12. I would like to conclude by congratulating the graduates on their
successful completion of their academic programs, but reminding them
that this is only the beginning of the most important part of their lives, the
part in which they are expected to contribute to the society and the
13. You are the future of the nation and I sincerely hope that all of you
achieve the maximum you are capable of. I wish you all success in your
future endeavours. Let me also urge the faculty and the staff of this
institution to do their best in upholding the academic tradition and
excellence of IMT in the times to come.