 "1630 IITians can create Rs 16,000 cr of economic value: Goenka")
Knowledge and talent to create accessible technology will lead to shared value resulting in sustainable, affordable and inclusive growth, said Pawan Goenka, Executive Director and President, Automotive & Farm Equipment Sectors, Mahindra & Mahindra recently has been appointed the Chairman of Board of Governors at the Indian Institute of Technology Madras.
In his address at the IIT-Madras convocation today, he said, "use your knowledge and talent to create accessible technology will lead to shared value resulting in sustainable, affordable and inclusive growth. It will enrich both you (he was addressing the students) and your country and perhaps the World".
On Friday, 1630 students graduated from IIT Madras, one of the oldest IITs in the country.
Goenka said, "I were to extrapolate the contributions of past IITians across the world to today's graduating class,the 1,630 of you have the potential to create Rs 16,000 crore of economic value across industry, government and entrepreneurship by 2060 and create employment of 1.60 lakh jobs and atleast 20 of them will be on the Board of India's top 500 companies".
IIT alumni have made significant contributions to society, both in economic and social terms, said Goenka.
His advise to the students, "many of you will veer off into other work streams that are not related to engieering, technology or research, but even while pursuing MBAs or working for consulting firms and banks keep a keen eye on how your actions and your inactions can and will affect the live of others -- being an IITian means that more likely that not you will be in a position of influence. and wielding that influence towards community driven actions is your greatest opportunity in the new world you are stepping into today".
He noted, the way of doing business across the world has changed. The 2008 debacle on Wall Street has forever changed the way business is perceived, and in the foreseeable future, businesses that succeed will not be businesses that relentlessly pursue their own profit. The successful businesses of the 21st century will be those that create shared value for themselves and for the communities in which they operate. Successful businesses will be those that help people Rise.
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"Put equal focus on accessible technologies. This is what will differentiate you, an IITian, from the rest," said Goenka, who narrated that accessible technology is nothing but accessible to the masses and not that is affordable only to the privileged few until decades later when it cascades down to the masses. There are many examples from IIT Madras itself of accessible technologies.
For example, he noted, Arsenic and Metal Removal of Indian Technology (AMRIT) is a drinking water purifier that leverage nano filter technology and works without power. These filters are already deployed in arsenic affected regions of West Bengal.
Low cost house construction solutions that cost 33% less and takes 1/4th the time to build, thanks to the Glass Fiber Reinforced Gypsum panel technology, there is a less dependence on cement, steel, sand and water making the technology environment friendly as well.
Cataract, glaucoma and diabetic retinopathy are common causes of blindness. The '3nethra' eye-screening device is again an IIT Madras innovation, for early detection and boats of 200 plus installations across eight countries.
"It is time for you to unleash the force of accessible technology. The need is there. The opportunity is there. The impetus to commercialise is there. India is like a sleeping giant. You have an opportunity to awaken the sleeping giant and on your own, or with the help of business, can create economic value and lucrative returns for yourself and change the live of others," said Goenka.