Summary of speech by Shrikrishna Kulkarni November 14th, 2019

IIM Calcutta is the first IIM set up in India.

I see IIMC as an Institute of Management – a public institution, which is a nodal agency to bring about a revolution in management practice. To my mind, IIM Calcutta has a significant role in nation building and for providing educational inputs for that purpose, to all sectors of the Indian economy and polity.

The limits of a country’s greatness are seldom set by its physical resources, but usually by the capability and integrity of its leaders. This then begs the question – where are the leaders of tomorrow? I believe that IIM Calcutta with its committed faculty; dedicated support staff; its exceptional students and supremely successful alumni have a role in building our nation. We at IIMC should be that educational institution which aims at generating excellence, and which continues to produce “movers of people, mobilizers of opinion” – integrated personalities whose minds, hearts and character have been developed in the noble traditions of our invaluable heritage.

Just as the accumulation of capital stock is an indication of the success of a corporation, similarly, one must also assess the ‘human capital’ to gauge the development of a nation. To this context, civic sense and civic responsibility are fundamental to the growth of a nation’s human capital asset. This human capital asset is fundamental to a nation’s Gross Domestic Character.Technology will force and disrupt management practices from shareholder wealth maximization to “equitable distribution of wealth”. This Gross Domestic Character will be at the heart of leaders who will change the management paradigm from “shareholder wealth maximization”, to “equitable distribution of wealth”. This in my view is the only key that can unlock the problems of poverty and unemployment.

Growing Gross Domestic Character requires a set of different fundamental efforts than what is required for growing GDP. But, both are essential. Leaders of tomorrow will need to have a high level of “human capital”.