India

is the cradle of the human race, the birth place of human speech, the mother of history, the grandmother of
legend, and the great grandmother of tradition. Our most valuable and most constructive materials in the history of
man and treasure up in India only - Mark Twain

Vasudhev Kutumbkum of Indian MBA

Vol. III, No. 25, 26 June 2015

Truly Said History repeats itself. Steam engine marked the industrial revolution, which mobilized economic growth

in the west. The pattern is unfolding again. The growth paradigm of western economies requires new fuel knowledge
workers and skilled professionals. India has distinctive demographic differentials for importing customers to India ( as per
AIMA and BCG Report) as in Educational outsourcing. However, India is facing a huge problem of Brain Drain.
Management gurus advocate the idea of importing the practical aspects of management education from the west and
exporting the analytical aspects from India. A wholly and revamped Indian MBA model is thus forms encompassing Indias
very own definition of Globalization Vasudhev Kutumbkum Nothing in this globe is permanent except change. The
current scenario witnesses the world as a borderless society leading to free flow of information that is opening up new
vistas in the field of conventional and professional education. The Globalization doesn't seem to have happened just to
the Industry but also to Indian B- Schools. Education in India has a history stretching back to the ancient urban centers
of learning at Taxila and Nalanda after which Western education embedded in the Indian society after establishment of
the British Raj. The Holy Bhagavat Gita as given by Lord Shri Krishna has seven hundred concise verses that depict all
the management tactics to achieve the mental equilibrium and overcome any contingency. Subjects like ethics, corporate
social responsibility and management mantras from the Bhagavad Gita have made a debut in the Management Education.
Indias rich past also embraces Arthasasthra, literally known as Scripture of Wealth which is one of oldest books
available that provides a systematic treatment of management by presenting logical policies and procedures. Since ages,
rulers across the world have referred to the Arthashastra for building a nation on sound economics as on spiritual
values. Arthasasthra consisting of 15 books, 380 Shlokas and 4968 Sutras addresses itself to the effective and
appropriate conduct of top management, how decisions should be made, to the importance of the effective use of
information and to the delegation of general or topical authority. Arthashastra has also been referred by top B-Schools
like Harvard, Wharton, MIT, Carnegie Mellon, LBS, INSEAD, Kellogg for its unique and popular Management techniques like
Management By Objectives and other financial terms. Aping the west, Indian B-Schools also started following the Old
Wine in New Bottle having little knowledge that they were bringing back their own rich past from abroad. Alas, India
always had this problem of not getting its own things patented as so happened in the case of Basmati, Darjeeling Tea
and many more.
Recently the Government has taken a step further for the free entry to A-grade global universities into India without any
restriction. This will include foreign universities setting up courses or entire institutions in India. No doubt such a step
will have a great impact on Indian education system especially the higher education. India's improved education system
is often cited as one of the main contributors to the economic rise of India. Moreover, the globalization of the
curriculum has brought Indian management Education to the next level and B-schools in India are also rising. Students
from foreign Universities are chasing internships or full time jobs in Indian companies and Global B-schools are extremely
keen on exchange programs with India.

Let us all embrace our Indian Education and extract the best out of it. After all, the Zero was also invented in India
then why not reverse it and take it to infinity.JaiHind

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Shivali Jindal
Faculty, CBS

www.chitkara.edu.in

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