CONVOCATION ADDRESS BY SHRI HARI SHANKAR SINGHANIA AT THE ENTREPRENEURSHIP DEVEOPMENT INSTITUTE OF INDIA, AHMEDABAD ON SATURDAY, 17^Th SEPTEMBER, 2005

“I am thankful to Shri V P Shetty, Dr Dinesh Awasthi and Members of the Governing Board for giving me this opportunity to be here today at this important occasion of the Convocation and meet the bright entrepreneurs of tomorrow.

EDI is a premier institution in the field of entrepreneurship training, education, research and has been rendering yeomen service to the cause for which it was set up in 1983. I am happy to note that EDI is the only institution in the country offering Post-Graduate Diploma in Business Entrepreneurship and Management with two specializations viz. New Enterprise Creation and Family Business Management. In addition it has a unique educational programme which offers PG Diploma in Management of NGOs. The sponsors of the Institute led by IDBI deserve special thanks for their farsightedness in establishing such an institute for promoting entrepreneurship.

I offer my heartiest congratulations to all of you, who have successfully completed the post-graduate diploma programmes. You are now poised to embark upon a new, challenging and, I am sure, highly rewarding phase of your life. My best wishes to each one of you, as you begin this exciting journey.

Entrepreneur is one who constantly analyses opportunities and takes initiatives and risks to seize them with courage and boldness. He has to have a vision, farsightedness as well as determination to forge ahead despite ups and downs. This is distinct from a more secure path of joining a service or employment. I would assume that more than the monetary or material benefits, it is the fulfilment of his creative urge that drives him to this path. In the process he is a job creator rather than a job seeker. He is a wealth generator not only for himself but for the society as a whole.

Entrepreneurs built nations and started the process of globalisation centuries ago. It was the entrepreneurs who travelled far and wide and created the silk route, spice route and other trade routes. They promoted international trading and investment activities. In fact they have been the backbone for bringing together different civilisations.

India has been a land of entrepreneurs for centuries. Entrepreneurship has pervaded all facets including agriculture, manufacturing, trade and services. So we in India are not new to it. Even in the days of Monarchies, entrepreneurship flourished. Under foreign rule as well, when the dice was loaded against us, Indian entrepreneurs made their mark.

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