“Management is the most significant element of economic development,” said President Pranab Mukherjee on Wednesday, at a special function he hosted at the Rashtrapati Bhavan to celebrate the diamond jubilee of the All India Management Association (AIMA).
Referring to the need for developing management and entrepreneurial skills in India, Mukherjee said that the country needed its young people to start more businesses and create more employment opportunities instead of looking for jobs. “For that, we require a huge management cadre,” he said. He added that the world was changing fast and technological changes would bring disruptions. “Managing disruptions is the job of true managers,” he said.
Pointing out that India formulated its first industrialization policy in 1956 and AIMA was set up in 1957, Mukherjee commended AIMA for its role in the economic transformation of the country. The President said that from 1900 to 1950, the Indian economy grew at less than 1% a year but since then India has become one of the fastest growing economies in the world.
AIMA president and chairman of Hero Corporate Services Sunil Kant Munjal was also present at the occasion. Munjal talked about the new initiatives taken by AIMA, one of which is the establishment of India’s first independent case research centre to support teaching of Indian case studies in business schools in the country and outside.
Preetha Reddy, former AIMA president and executive vice-chairperson of Apollo Hospitals Enterprises, gave the vote of thanks and said that AIMA was committed to skilling India’s youth and improving their employability. “Though 60 years old, AIMA is still young and up to the challenge,” she said.
The President also unveiled the commemorative plaque to mark the milestone and inaugurated the new building of AIMA.