Mr Goenka is the founder of IMI and is chairman of IMI’s board of governors.
Addressing graduating students, he said, “India is on the rise. There is a bright future waiting for future managers. New India has created plenty of opportunities for them.”
There are unprecedented changes in India, he added: “No one could imagine 35 years back that the whole world will look at India, a nation that was once synonymous with poverty, with such appreciable eyes. It is wonderful to see things change.”
But there is much more scope for the development and growth for which contribution of future mangers and students will be required. “We hope and are sure that our future managers will make their contribution by doing many things,” Mr Goenka said.
Mr RP Goenka grew his inheritance of four companies, valued at Rs 75 crores when he took over part of the family business in 1979, to a massive Rs 7,472-crore company, with more than 20 companies in 7 different business sectors. In the 1981, he bought over CEAT Tyres of India in 1981. Many acquisitions followed: KEC (1982), Searle India (1983, later renamed RPG Life Sciences), Dunlop (1984), HMV (1988), and in 1989, CESC, Harrisons Malayalam, Spencer & Co and ICIM. In 1990, he entrusted the management of the group to his two sons, Harsh and Sanjiv Goenka, and RP Goenka became the chairman emeritus, Harsh Goenka the chairman and Sanjiv Goenka the vice-chairman of RPG Enterprises.
Remembering the early years of IMI, Mr Goenka said, “In 1981, me and some of my friends decided to build an institute with an international focus. We built the institute at the time when it was not fashionable to think global!”
