Karnataka   

‘Entrepreneurial spirit essential for growth’

Manipal: Subroto Bagchi, chief operating officer of MindTree Consulting Ltd., Bangalore, said on Friday that on-time delivery, inclusion and humility are the qualities essential for development of entrepreneurial spirit.

He was speaking after inaugurating the International Research Meet on “Entrepreneurship in India and China” organised by T.A. Pai Management Institute (TAPMI), in association with the Department of Science and Technology, Government of India, here.

The meet is a part of silver jubilee celebrations of the institute.

Mr. Bagchi said that it was not the Government’s work to provide employment. It was a wrong notion that big companies created employment. Even in the U.S., it was not the companies listed in Fortune 500 that generated employment. Employment was always generated by high entrepreneurial spirit.

This high entrepreneurial spirit was lacking in India, where people running the companies thought that these enterprises were their fiefdom they had to bequeath to their families. A change in the mindset was required to encourage high entrepreneurial spirit in the country. One of the reasons for the lack of entrepreneurial spirit was the lack of integrity among people. “This lack of integrity is contagious and it is spreading from one mind to another,” he said.

“Corruption has taken India to the brink and is responsible for curbing its entrepreneurial spirit. Entrepreneurs should posses the humility of a farmer. They should understand that wealth is not about ownership. Wealth can be productive only when it is used on other people”, he said.

There was a lot of talk about India’s new-found power as an economic giant. At the same time, there were concerns that this power could be misused.

It was up to India to use its wisdom and this power for positive purposes, Mr. Bagchi said.

Director of Corporate Entrepreneurship, Babson College, U.S.A, Allan Cohen, spoke.

Co-ordinator of the meet Satyajit Majumdar gave the introductory remarks. Chairman of Governing Council of TAPMI K.K. Pai and director of TAPMI D. Nagabrahmam were present.

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