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Padmabhushan Sri Deepak Parekh, Chairman, HDFC

Inaugural speech at MYRA Campus Launch

Sri Deepak Parekh at MYRA campus launch Sri Deepak Parekh at MYRA campus launch

Trustees of the Foundation, Members of the Governing Board, and Ladies and Gentleman – it is indeed pleasure to being here today at the campus inauguration of Myra School of Business I know that the campus is not fully ready, but this is the first step in ensuring the classes begin in the next semester. I would like to congratulate the Mysore Royal Family for the endeavors to support the Mysore Royal Academy. The Royal Family of Mysore has historically been philanthropic and has continued to promote and nurture art, architecture and literature with a grand and forward-thinking approach. The founders of MYRA, Prof. Shalini Urs and Prof. Shrijay Devaraj Urs have successfully carried on this rich tradition by teaming up with reputed academicians and industries all over in India as well as around the world. There are MYRA professors sitting here today, and I was talking to all of them, and they are all committed to coming to this campus and teaching on a regular basis – it gives me hope that this University – this campus – this college will really take off. These are very positive steps in ensuring that this institute will become a leading business and management school in the dynamic global environment.

Today, business schools need to focus on all-round development and must train students so that they are able to meet the rigorous requirements of the industry. Today, unfortunately only 21% of MBA graduates in India are immediately employable. The majority of the students need skills and training to increase their competence. It is refreshing therefore to see that the MYRA School of Business has chosen the right path by emphasizing research-based problem-solving, studying emerging markets, focusing on Triple Bottom Line – and most importantly, developing entrepreneurial skills.

One must not forget that one of the reasons for the rapid rise of the Indian economy since 1991 has been the important role played by entrepreneurs. During the past 20 years we have witnessed a huge surge in entrepreneurship in India as companies started enterprises from scratch. So it is encouraging to know that the MYRA School of Business is setting up alliances with Indian and foreign companies to allow students to get fair idea of what the industry expects. The mentoring programmes, corporate consultancy programme, Centres of Excellence to create platforms to interact with policy-makers, corporates, and other academic institutions, and the CXO Speaker Series which hosts speakers of national and international repute, are of all very positive initiatives. These programs will help students gain experience and ensure that there is no mismatch between their qualifications and those which the industry needs. Further, these steps will provide the students a better understanding of the diverse markets and global business cultures.

The point to I would highlight is the importance of ethics, especially considering the lessons of the global financial crisis. This crisis was a noteworthy example of the pitfalls of the current landscape which now has to prove to all of us the age old maxim of “integrity, honesty and transparency” in order to stand the test of time. I am hopeful that the MYRA School of Business will incorporate ethics as the part of the curriculum.

I would once again like to congratulate everyone here today on the campus inauguration and wish the MYRA School of Business all the very best in their endeavors to become a premier and globally bench-marked institutions in a short period of time. I am very confident that the MYRA School of Business is creating a world-class platform to develop future business leaders of India.
Thank you once again for inviting me today, and would just like to apologize in case I may have to leave little early. The airport in Mysore closes shortly, and if I miss my flight, I’ll have to go to stay in Shalini’s house. Thank you for your patience and listening to my words – thank you and good evening.