Political stability key for biz reforms: PM

ISB: Redefining Business

- Since 2001, over 50,000 executives passed out

- ISB is among the top business schools of Asia

- ISB graduates helming top companies

- They created many start-ups and played a role in creating several unicorns

- ISB playing key role in giving momentum to business

Hyderabad: Owing to continuous political instability during the last three decades, the country suffered from lack of political willpower and stayed away from implementing reforms and important decisions, Prime Minister Narendra Modi said on Thursday. However, the nation is now seeing political determination and reforms also being implemented continuously since 2014, he said.

While addressing 20th anniversary celebrations and graduation ceremony of the Post-Graduate Programme of Class of 2022 at the Indian School of Business (ISB) here on Thursday, PM Modi said: "India is the fastest growing economy among the G-20 nations besides boasting of several other achievements, including in the start-up environment and attracting the highest-ever FDI. Due to the continuous political instability in the last three decades, the country has seen a lack of political willpower for a long time. Because of this the country stayed away from reforms and from taking big decisions. Since 2014, our country is seeing political will and also, reforms are being implemented continuously."

Telangana Governor Tamilisai Soundararajan, Union Minister of Tourism, Culture and Development of North Eastern Region G Kishan Reddy, were among other dignitaries present.

Modi also recalled that former Prime Minister Atal Bihari Vajpayee dedicated this (ISB) institution to the country in 2001.

"Since then, more than 50,000 executives passed out from ISB. Today, ISB is among the top business schools of Asia. Professionals passed out from ISB are helming top companies and giving momentum to the county's business," said Modi, before giving away medals to some of the meritorious graduates.

"All you business professionals have a big role in this. And this will be a great example of service to the country for you," he added.

Students from here have created hundreds of startups and played a role in creating unicorns, Modi said adding "This is an achievement of ISB and a cause of pride for the entire country".

On reforms, he said public and popular support is assured when reforms are undertaken with determination and political will, he said.

Listing the achievements, the Prime Minister said in the case of Smartphone Data Consumer, India is at number-one position and also it has occupied second slot when it comes to internet-users. "India is in the second position in global retail index. India has the third largest start-up eco system in the world," he said.

India is emerging as a major centre of growth today and the world is realising that India means business, Modi said.

Pointing out that often Indian solutions are being implemented globally, he called upon the graduating students of ISB to link their personal goals with that of the country.