AIMS Celebrates 36th Foundation Day: Visionary Leaders Call for Ethical Innovation and Collaborative Education to Build Viksit Bharat by 2047

New Delhi (30th August 2025): The Association of Indian Management Schools (AIMS) celebrated its 36th Foundation Day in New Delhi with the theme “The Role of Higher Education in Making India a Developed Nation by 2047.” The event brought together leading academicians, policymakers, and corporate leaders, including Chief Guest Dr. P. Dwarkanath, Chancellor of IILM University.

The programme included inspiring addresses, panel discussions, and awards recognizing excellence in management education and leadership, including the felicitation of women achievers like Richa Singh, CEO of YourDOST, for her contributions to mental health and leadership.

AIMS President Prof. R.K. Patra Highlights Future of Management Education at 36th Annual Day

Addressing the 36th Annual Day of the Association of Indian Management Schools (AIMS), President Prof. R.K. Patra emphasized the organization’s commitment to transforming management education in alignment with NEP 2020. AIMS is not just an institution, but a movement of knowledge, values, and leadership, he said.

He highlighted the integration of AI and ML in business education, the need for ethical leadership, and the importance of mental health. Prof. Patra called on MBA graduates to be “change-makers rooted in Indian values,” capable of navigating global disruptions with innovation, resilience, and integrity.

P. Dwarkanath’s Address: Leadership, Education, and the Future of India

P. Dwarkanath, a veteran corporate leader with over five decades of experience, delivered a compelling and thought-provoking address as Chief Guest, drawing upon his remarkable journey — including 40 years with a single organization, where he rose from Managing Director to Chairman.

I am not a doctor, nor have I ever been a very good student, he began candidly. But I have spent over five decades in the corporate world. He said, I never imagined I would become a Chancellor one day. That happened only because my company gave me opportunities to interact with management colleges and the academic world. Interestingly, I haven’t changed my profession or my name — but my company has changed its name five years ago. Further he added, Education is only useful if it helps you reach a position of relevance. What worked in the past may not work in the future — the world is changing very fast.

He emphasized,You can take away all the buildings and property — but if you have human capital, you can rebuild it all. This was true in 1946, and it still holds today, 80 years later. But in today’s world, even 10 years is a long time. The real leader is one who can adapt and change.

Everything isn’t taught in classrooms. It’s not enough to know the answer — you must understand why the teacher asked that question in the first place. The key question is: What have you developed, how have you developed it, and how many people have you helped develop?

Dwarkanath introduced the PREST framework — essential for students and professionals to understand the world:P – political,R – Regulatory,E – Economic,S – Social,T – Technology He proposed adding another “E” for Environment: This was never discussed earlier. It’s no longer just about governance, but about compliance too. Not only industries, but management institutions must also take responsibility.

Dwarkanath spoke passionately about India’s development journey: If we want a Viksit Bharat (Developed India), we must start working from today. We’re not fully there yet — but we are creating a legacy. Leadership matters. He praised incubation centres in business schools:

He reminded that teachers must evolve too: Whatever teachers study, they should be able to teach. The focus should be on both students and teachers.

Dwarkanath proposed a new national initiative: India has Indian Statistical Services. I propose starting Indian Management Services to build better leadership in business and governance. We have to ensure that industry, academia, and business work together. Institutes like AIIMS are doing a great job — and they deserve to be complimented. He raised concerns about the ethical use of Generative AI, Profit-making is not bad — but profit should come with values. Profitable ventures can include sectors like healthcare — but it must not be only about profit. It’s not just about being profitable — it’s about being value-driven.

A Final Word on Change and Leadership, Today you might be on top — but if you don’t change, you won’t stay there. Like with mobile phones and smartphones — you must constantly evolve. Sustainability is the real success mantra today. He ended with a quote, Some people know what is happening, some people don’t know what’s happening, and some people make it happen.

Dr. H.C. Chaturvedi, Director General of IILM and Chairman of the AIMS Foundation Day Committee, addressed the gathering by highlighting the theme: “The Role of Education in a Developed India by 2047.”

He emphasized the need for exponential, not incremental, growth in higher education to realize India’s development goals. Paying tribute to corporate leader P. Dwarkanath for his contributions to both industry and academia, Dr. Chaturvedi reflected on visionary ideas from Dr. Kalam and C.K. Prahalad about India’s potential. He noted that as the nation approaches 100 years of independence, quality education, research, and faculty excellence will be crucial. The upcoming AIMS National Conference will be held on December 30 in Bhubaneswar, led by R.K. Patra.

In his vote of thanks, Prof. Parag Kalkar, Treasurer of AIMS and Pro Vice-Chancellor of Savitribai Phule Pune University, expressed heartfelt gratitude to the dignitaries, speakers, participants, and organizers for making the event a success. The day concluded with a call to action for academia, industry, and policymakers to collaborate and innovate, ensuring management education plays a pivotal role in building a Viksit Bharat by 2047.