Thank you, Ajit. Good evening everyone, Honourable Minister, Mr High Commissioner, Chairman Gupta, Members of the Executive Board and Governing Board of the Indian School of Business, Faculty and Administrators of the Indian School of Business, Graduates of ISB and friends and family of those graduates, I am honoured and proud to celebrate this 2010 graduation with you. I bring you best wishes from the Massachusetts Institute of Technology and from MIT’s Sloan School of Management. We at MIT share ISB’s commitment to inventing the future of management education, to creating the ideas and insights that will improve practice and developing the world’s next generation of principled innovative leaders. I look forward to an important and deep collaboration between our two great institutions. We will bring our expertise from MIT in the areas of Manufacturing, Product and Process Development, Innovation, Sustainable Economic Development, building of physical infrastructure but we are also here to learn. We are here to learn about dynamic development of business practices in this region, we are here to learn more about India’s remarkable and sustained economic development and I am very excited to be able to sign this agreement of collaboration today.

Now if I may, and very briefly to today’s graduates, may I also offer to you my sincerest congratulations. With the guidance of ISBs amazing faculty and administrators and with the support of your family and your friends you have completed successfully one of the world’s most demanding, innovative and selective MBA programmes. You are ready to lead. India needs you to lead, the world needs you to lead. Indeed the world needs great business leaders for a simple solution. The world needs effective organisations because organisations are the only way that ideas improve the world. So the world needs the innovations that you and your companies through your leadership will bring to India and the world. You have inherited many challenges, fundamental transformations in business models, raised expectations for business leaders be it to navigate the immediate financial challenges and turbulence while attending to longer term considerations of environmental peril and sustainable economic development. At the same time you are privileged. You are uniquely positioned through your MBA education and in particular as graduates of the Indian School of Business to address exactly those challenges. You are armed with the essential analytical tools, leadership skills and managerial insights. You have the support of this region’s key business leaders. You have an amazing and rapidly growing network of fellow ISB alumni and you have the good will and engagement of dedicated and world-renowned collaborative schools. I am confident that you will not only succeed personally but that you will make your community and this world a better place. I know this in part because I know how you were selected. Further I know how you were educated at ISB. And finally, I have heard already of your personal qualities, your thoughtfulness, your enthusiasm and your empathy. You will raise the standard of management practice in this region and beyond just as the Indian School of Business has been raising the standard for management education. You will improve ISB just as ISB has improved you. Again my congratulations for what you have accomplished and my great respect for what I know you will accomplish. We are proud to be associated with the Indian School of Business.