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

Outsourcing is the buzz word of today. It is not restricted only to foreign firms utilising Indian capabilities but applies equally to Indian companies and various departments of government outsourcing from Indian manufacturers and service providers. One can be part of this growing network of value or supply chain. To remain competitive either globally or nationally, this strategy is imperative. If one analyses the opportunities for ancillary industries as well as a variety of services that will be generated, we find a big world waiting for entrepreneurs.

Almost daily I wish that I was younger to partake in this exciting journey. All I can say to you is that you are blessed. You have the opportunity as well as the responsibility to take India forward and bring to the millions of our countrymen a much better standard of living and quality of life.

I know that we have still quite a lot of difficulties and impediments like lack of roads, highways, power, housing, water, sanitation, healthcare, education and above all effective governance. But a true entrepreneur is never deterred by these. Rather he would have greater resolve to combat these difficulties and move ahead. The creative urge and determination to win would drive you, the young entrepreneurs to take on these challenges and enjoy the benefits of the unfolding opportunities. My father used to tell me that nobody gets a clean slate to write on and has to start with the dirty slate he gets. If one waits for an ideal situation, the time will never come.

My confidence emanates from my and my own family’s experience. Generations ago my forefathers moved from the deserts of Rajasthan and established themselves mostly in Uttar Pradesh. By early 20th century, they set up industries like edible oil mills, ginning factories, etc. In the 1921 my grandfather set up the first cotton textile mill in Northern India at Kanpur, whereupon the real industrial journey began. It was by no means easy because those were the days of freedom struggle. The nationalistic fervour was such.

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