The vision of a $5 trillion economy is not just a GDP figure – it is about millions lifted from poverty, world-class infrastructure, energy security, and digital empowerment, says Principal Secretary to the Prime Minister, Dr P K Mishra.

Addressing the graduate students during the 9^th Annual Convocation of the Indian Institute of Management at Sambalpur today, Dr P.K. Mishra drew inspiration from PM Shri Narendra Modi’s grand vision of Amrit Kaal.  Dr Mishra reiterates Prime Minister wants all of us to take the country to the next level through the process of “reform, perform and transform”. In this endeavour all of us will be playing a critical role in ensuring that India becomes a developed country by 2047.  Speaking on a theme “Opportunities and Challenges in the Current Geopolitical and Economic Context”, Dr Mishra opined that we are living in an interesting and challenging time as the global economy is at a critical juncture, facing an array of complex challenges including disruptions in global supply chains, protectionist policies, heightened geopolitical tensions, and changing global trade patterns. Dr Mishra said that while we are witnessing technological breakthroughs at a pace never seen before; at the same time, supply chains are being reimagined and trade relationships are being redefined. He opined that Climate and Sustainability are central to every conversation and amidst this churning, one thing is clear – the future will not just be inherited, it will be created.

With positivity asserting India’s good standing globally as it is being shaping both by internal transformation as well as shifting global dynamics, Dr Mishra deliberated on India’s strengths. The Principal Secretary stated, while internally, on the one hand, growing economy, young population, expanding infrastructure, and technological advance form our strength; globally, India’s geopolitical influence, strategic partnerships, diaspora communities, soft power in terms of global influence, highlights our country growing influence.

Dr Mishra exemplified India’s prowess in becoming a global innovation powerhouse. He mentioned that with over 100 unicorns, we are the third-largest start-up ecosystem in the world. Talking about Production-Linked Incentive (PLI) Schemes across sectors such as electronics, pharma, and solar are driving manufacturing resurgence, Dr Mishra highlighted that this opens up exciting roles in operations, logistics, supply chain strategy, and manufacturing excellence. On the vital facet of India’s digital economy, Dr Mishra expressed optimism with over 800 million internet users, the economy is booming and reckoned that AI, Machine Learning, Blockchain and Industry 4.0 are no longer buzzwords – they are reality.

Underlining India’s climate commitments, Dr Mishra asserted that India aims to install 500 gigawatt of non-fossil fuel capacity by 2030.  Touching upon the aspect of National Green Hydrogen Mission and India’s endeavour as co-founder of the International Solar Alliance and the Global Biofuel Alliance, he said that Clean technology, green finance, EVs, carbon trading, and circular economy practices will all demand trained, innovative minds – and that is where skill sets would play a pivotal role.

Throwing light on our IT exports which have surpassed $200 billion, Dr Mishra said our pharma remains a lifeline for the world.  With increasing confidence in “Made in India”, global markets are more accessible than ever before, as Dr Mishra exhorts to lead businesses that export to the world, or manage global supply networks from Indian soil. Dr Mishra specifies, India needs to create 8-10 million quality jobs annually and alignment between skills and industry needs.  Focusing on Government’s Digital India and Skill India programmes, Dr Mishra highlights the role of champions in the private sector who can help impart digital skills to the underprivileged or mentor small businesses.

Principal Secretary to the Prime Minister noted that the institution is built with the state-of-the-art infrastructure along with contemporary Sambalpuri art in its design.  Dr Mishra mentioned that IIM Sambalpur earned a reputation of excellence in management education with its core values are innovation, integrity and inclusiveness, as he added the Prime Minister of India laid the foundation stone in 2021 as well as inaugurated the campus in February 2024. He complimented IIM Sambalpur for launching an Entrepreneurship Development Program, specifically designed for the Master Weavers of Western Odisha. 

Dr Mishra underscored that the institute is a flag-bearer of the Government’s modern initiatives, follows the concept of AI Centres of Excellence initiative, and aims to position India as a global leader in tech-driven management education. Dr Mishra added that IIM Sambalpur not only has world-class infrastructure, but also it is situated in an area that is nestled in our country’s history and heritage as referred to presiding Goddess of the area, Ma Samaleshwari, and the land of Veer Surendra Sai, who had fought against colonial rule much before the 1857 War of Independence. 

Dr Mishra encouraged the students to be courageous and resilient in adversity.  Adding on quintessence of traits like perseverance and determination, he exhorted all to embrace failure as an opportunity to learn and grow; to dream big, and have faith and confidence in one’s abilities. Dr Mishra asserted as he called for the importance of responsibilities on management acumen to drive growth, productivity and innovation; to embrace lifelong learning; to take the entrepreneurial route for solving real problems, create jobs, build for Bharat; and above all to be ethical, inclusive and sustainable.

In line with the spirit of Vasudhaiva Kutumbakam – “The world is one family”, Dr Mishra concluded his deliberations by saying that leaders who think beyond profits and positions. He exhorted the students to be managers who can manage not only businesses but also values, diversity and change.

*****