PM Modi says, today’s startups are multinational companies of tomorrow

The Prime Minister said, the vast talent pool of the IIMs both within and outside the country can help realise the goals of globalising brand India

Today’s startups are the multinational companies of tomorrow, Prime Minister Narendra Modi said today after laying the foundation stone for the permanent campus of IIM Sambalpur, Odisha, via video conferencing today.

Addressing the event, the Prime Minister said that the real task of the management is not just to manage the institutions but also to improve the lives of the people. Stating that management is based on the broader concepts of innovation, integrity and inclusiveness, the prime minister said, those who are left behind in the race of development must also be included in the journey towards growth.

The Prime Minister said, the vast talent pool of the IIMs both within and outside the country can help realise the goals of globalising brand India. He said the management experts can also play a vital role in making the local go global in the overall framework of an Atmanirbhar Bharat.

PM Modi said, from the farming sector to space sector, the scope for startups is increasing, and most startups are coming up in tier II and III cities of the country. He said that the start-ups need effective managers who in turn need to not just run with the time but also ahead of the time to catapult brand India onto the global stage.

PM Modi emphasized that despite the COVID-19 pandemic, India has witnessed more number of unicorns in 2020. The youth have a huge responsibility towards Brand India, he added. Till 2014, there were 13 IIMs in India. Today, there are 20 IIMs. Such a large talent pool can help strengthen the ‘Atmanirbhar Bharat’ campaign.

Extending his new year greetings to the people of Odisha in the vernacular, the Prime Minister spoke at length on the rich repository of mineral and forest resources of Odisha, art, culture, literature and handicrafts of Sambalpur region and said IIM Sambalpur will give a new identity to the State.

He said that the establishment of higher educational institutions like the IIMs in relatively smaller cities gives a big boost to the broadening and deepening of the start up ecosystem in the country.

Speaking on the occasion, Chief Minister Naveen Patnaik said, IIM Sambalpur which was set up in 2015, has already proved its mettle. He said he is delighted that the Prime Minister is laying the foundation stone for infrastructural development of IIM Sambalpur.

IIM Sambalpur is the first IIM to implement the idea of the flipped classroom where the basic concepts are learnt in digital mode and experiential learning takes place in the class, through live projects from the industry. The Institute has also outscored all other IIMs in terms of the highest gender diversity with 49 per cent girl students in MBA 2019-21 batch and 43 per cent in MBA 2020-22 batch.

Odisha Governor Professor Ganeshi Lal, Union Education Minister Ramesh Pokhriyal Nishank, Union Ministers Dharmendra Pradhan and Pratap Chandra Sarangi were present on the occasion. The ceremony was virtually attended by over 5,000 invitees including officials, industry leaders, academicians and students, alumni and faculty of IIM Sambalpur.

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