Graduation class, honoured guests, esteemed colleagues, and dear friends. It is a great pleasure for me to be here on this very special occasion of ISB Graduation Day for year 2007. Before I go on, I must acknowledge one special person who has been the Dean of PGP programs for the last seven years. I recognize the contribution of Savita Mahajan, who has really put together, with the help of the faculty and field specialist, a programme that is outstanding.

Graduates, this of course, is your moment. With your diligent work and remarkable success, I recognize and reward you with the degree. I am sure that there have been times, while studying at ISB, that this moment seemed to have a far-away date – a time somewhat beyond your reach! Well, the school, I hope has a very interesting environment, and that all of you had risen to the challenges that were presented to you, which lies in your achievements of leadership and learning. The happy reason that we are here today is because all of you have succeeded. And those of you who are here because of a family member or a friend graduating, we thank you very much, too, for the encouragement that you gave to this graduating class. I know that each of your sustained support has added much value to their success. So, each of you who are here today, Thank You.

Let me also extend my warmest welcome to Montek (Montek Singh Ahluwalia). Montek has been a great friend of ISB, a personal friend, and a hero to me for many years. I am delighted that he has been able to visit us before, and today, as our Chief Guest. But all along the life of this school, he has been a backbone support. Montek is a hero to many of us and to so many others, not only because of his contribution and achievement in his career and government – here in India and the World Bank – but also for making contributions that matter most to our country and to the world. He has done that in a truly inspirational manner and with extraordinary integrity. He plays a role model for all of us. Thank you, Montek.

Today is the end of one journey for you, closing this chapter of your lives. Today, of course, is also the beginning of the journey of a long road ahead towards new personal and professional goals. I want you to know only of two things while approaching the coming journey - to have a learning mindset and to take every opportunity to go beyond your immediate job and to lead with integrity. I do hope you will be true ambassadors to ISB - of its values and its mission. The first lesson I learnt was to work out the true value of every opportunity that is in front of you. It is really quite easy to worry about whether you got the right job, right company to work with, right remuneration, and right job assignment. Even I used to worry about the same things, but then later discovered that these are not mostly the fundamental issues. To some extent, it really doesn’t matter what job you have, what assignment you have, or what task you are assigned to. What matters is the mindset that you bring to that work. In particular, whether you have a lifelong learning mindset. The best job in the world, the best compensation for the most exciting set of responsibilities will come up short if you do not approach it with a determination and willingness to keep learning. Business school teaches you a lot, but also helps you to prepare to learn once more in your career. To do that is to make many ways in the beginning of your education, and not the end of it. I would encourage you – no matter what you do after ISB – to approach every job with a true learning mindset. The second lesson I offer is the value of grasping every opportunity that is available to you or to me, whether it be a specific job or things around it. Lessons in leadership, of course, can be inspirationally learned. We have tried to achieve this here at ISB in many areas of our studies, including through the leadership development programme. So, I would urge you to take that extra chance for yourself to leap because these experiences can provide you with the prospect of testing yourself of observing your skills, your strengths, and reflecting on what you do well and where you might improve. In other thoughts, great leadership is to lead through leading other people, through working with other people, through team work, through making other people successful. No matter how good you are, no matter how talented, you will only achieve so much for yourself. But, if it inspires others, it helps you make things successful. Then, in turn, they will help you succeed and you will be more successful. One another observation that I make today is that in many parts of the world, trust in business is very low, as they make mistakes, create scandals and damage the reputation of the whole business community. This is not a good situation but one that each of us can help improve. With each leadership opportunity you seek, and indeed everything you do in your career, strive to act with integrity. Business has a huge contribution to make – contribution that cuts across all social economic and political issues. But professionals we once trusted should regain the trust where it has been lost. Business people must demonstrate unwavering integrity and you must display that unwavering integrity in everything you do.

To me, all this is summarized in my favourite sloka from Bhagwad Gita, which, by the way, I have used to close each one of the convocation talks I have given: “Karmanye Vaadhika raste, Maa Phaleshu Kadachana; Maa karma-phala-hetur-bhoorma, Mate Sangostwakarmini.” You have the right to work, never to bear the fruits of. Not only should you do the right things but you should do them with the right intentions and always do your very best. Congratulations to all of you again!