The Education Minister, Mr. Dharmendra Pradhan, has urged the Indian industry to increase investments in startups. This move aims to foster innovation crucial for maintaining India’s economic growth at a sustained high level.
Speaking to India’s management leaders on National Management Day, the minister emphasized the importance of trust in startups, urging the industry to invest in innovative ideas. “You need to be willing to support new ventures financially,” he stated during the Foundation Day event of the All India Management Association (AIMA).
He mentioned that the rapid expansion of India’s startup ecosystem, currently comprising around 120,000 entities, would play a vital role in propelling India towards its ambitious goal of achieving a $30-$35 trillion GDP in the coming decades.
AIMA entered into a Memorandum of Understanding with St. Stephen’s College, Delhi University, for joint efforts in management education and training, with the minister in attendance.
The minister commended AIMA and St. Stephen’s College for formalizing an MoU to enhance industry-academia collaboration and introduce modern courses for students, executives, and entrepreneurs. “I appreciate AIMA for involving me in this significant initiative aligned with the New Education Policy,” he expressed his gratitude.
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Quoting the Prime Minister, Mr Pradhan said that this is the right moment for India and this is India’s moment. “ India will be unstoppable over the next 25 years,” he said.
Mr. Amitabh Kant, India’s G20 Sherpa, emphasized to India’s business leaders that achieving a $35 trillion economy by 2047 requires consistent annual GDP growth of 8%-9% for three decades. He expressed confidence in this attainable goal, highlighting the pivotal role of India’s private sector in driving this growth.
Mr. Kant highlighted the government’s initiative to unlock burgeoning sectors like EVs, batteries, drones, robotics, and space for private enterprise. This strategic move aims to propel the nation forward in technology and innovation. Emphasizing the pivotal shift towards digitalization, sustainability, and geospatial advancements, he underlined the path to a progressive future.
AIMA President and Vice Chairman & Managing Director of Triveni Turbine Ltd, Mr. Nikhil Sawhney emphasized that AIMA has been a cornerstone of thought leadership in Indian management for the last 67 years. It has not only fostered but also refined management talent in the nation.
Last year, AIMA boasted an enrollment of nearly 2,000 students, with approximately 60,000 MBA hopefuls participating in AIMA’s MAT entrance examination, as noted by Mr. Sawhney. He highlighted that AIMA has facilitated numerous students in pursuing doctoral studies over the last few decades.
Discussing India’s potential to emerge as a global leader in the 21st century, Mr. Sawhney highlighted the ongoing transformative shifts in the global economy. He emphasized the significance for Indian businesses to embrace key themes such as energy transition and artificial intelligence to ensure success in the forthcoming years.
The Minister presented the 2024 AIMA Foundation Day Awards.
Uday Kotak, the Founder and Director of Kotak Mahindra Bank, was honored with the AIMA Lifetime Achievement Award for Management.
Receiving his award, Mr Kotak said that India today has a bigger opportunity than it looked possible 40 years ago. “India is at the take-off stage,” he said.
Mr Sanjiv Bajaj, Chairman and Managing Director, Bajaj Finserv Ltd got the AIMA – JRD Tata Corporate Leadership Award. Mr Bajaj credited the 80,000 employees of Bajaj Finserv Group for his award.
Dr. R A. Mashelkar, the former Director General of the Council of Scientific & Industrial Research, was honored with the AIMA Public Service Excellence Award. Reflecting on his receipt of the AIMA JRD Tata Award 25 years ago, he expressed gratitude to his mother for her role in his accomplishments.
Prof Bharat Bhasker, Director, IIM Ahmedabad received the AIMA – Kewal Nohria Award for Academic Leadership in Management Education.
AIMA awarded the AIMA – Dr J S Juneja Award for Creativity and Innovation in MSMEs to Viprof Electronics, and the AIMA Dr Ram Tarneja Award for Best Article in Indian Management to Mr. Amit Mishra, a Research Scholar at the Institute of Management Technology, Hyderabad.
Mr. Shrinivas Dempo, Immediate Past President of AIMA and Chairman of the Dempo Group of Companies, expressed gratitude to Mr. Pradhan and Mr. Kant for participating in AIMA’s Foundation Day celebrations. He also extended his congratulations to all the awardees for their remarkable achievements.
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