While elaborating on management education, he said that in the 20th century, MBA courses met the snowballing demands of industrial age managers. However, in the new knowledge economy, managers need to be world-class leaders and innovators who can handle complex situations in a dynamic environment with élan and are sensitive to environmental forces. He said that business education must infuse a range of inputs like culture, technology, etc to programs that drive the company’s growth as well as ameliorate the well-being of people. It is important to keep up the pace of growth of wealth generated in today’s economy without the economic disparity that has got accentuated lately. He wished the students well and urged them to fulfil their aspirations and the goal of a developed India.