India has the potential to lead the world: Dr. Gururaj Deshpande, Co-founder and Chairman, Sycamore Networks

Thats the message emerging from the convocation address delivered by tech-innovator Dr Gururaj Deshpande at Indian Institute of Management Bangalore (IIM-B) on March 25. Dr Despandes address was titled An Opportunity to Lead and provoked graduating class at IIM-B to take risks and innovate.

Setting the tone for his address, Dr Deshpande said, India has changed a lot since I graduated in 1973 from IIT Madras. When you fast forward 35 years to the present you see a very different country and also a different world. India, with its cost advantage and talent, has harnessed the new situation and has become a key participant in the global economy. If we fast forward another 35 years, India has the potential to lead the world in several dimensions. The world will and has to change a lot.

Dr Deshpande added, When I was growing up, the big debate was between Communism and Capitalism. A few years ago it appeared that the market based economy had won. However, cracks are showing up in this new economic system. The free-market favours the rich, promotes consumption and assumes that natural resources like water and air are free. If all the six billion people on earth consume like Americans, we will quickly destroy the planet. We need to innovate and find a new way of living. I hope that the new confident India will play an important role in coming up with the solution.

Highlighting the India-centric innovation models, Dr Deshpande said, The type of innovation going on in India is of a different nature. India is finding innovative solutions at a very low cost that can be scaled to serve hundreds of millions. Every problem that India solves needs to have scale. Because the affordability is low, every solution has to have the lowest cost in the world. Scale and low affordability also existed in India 35 years ago. However, India now has the new found confidence which rests on demonstrated success, knowledge of sophisticated technology and management skills. With this combination, India can come up with innovative solutions that can impact billions in the world. Entrepreneurship and Innovation will be essential to come up with the new solutions.

In his convocation address, Dr Deshpande also offered advice on career planning for young management graduates as they step into the corporate world. Said Dr Deshpande, All of you must be struggling with how to pick the right thing to do after you graduate. Dont get trapped into thinking that you need to pick something where you can be successful and happily live ever after. I have found that it does not matter how successful you are, how much money you have, you can never buy enough insurance to happily live for ever after.You have to continuously reinvent yourself. Therefore, even though I am 35 years ahead of you I still go through the same exercise of finding the next exciting thing to do in my life as you do.

He added, Most of you will get good jobs in safe environments. However, make sure that you dont become too comfortable. Take the plunge, be entrepreneurial and have the courage to fail. When you face hurdles dont get paralyzed by the poor me syndrome. Use your conviction and your commitment to the cause to gain the strength and overcome the hurdle.

Urging students to contribute to the growth of their Alma mater, Dr Deshpande said, Dont forget the Indian Institute of Management, Bangalore. I am very impressed with the graduates of MIT, Harvard and Stanford. These graduates continue to stay connected with their Institutions and contribute their wealth, wisdom and time. You graduates are second to none in the world. You should all strive to make sure that your Institution will also be second to none in the world.