Key challenge now is management of change: Chidambaram

Ahmedabad, Mar 31 (UNI) Union Finance Minister P Chidambaram today said the key challenge now was the management of change.

In his address at the 42nd annual convocation of the Indian Institute of Management, Ahmedabad (IIM-A) here, Mr Chidambaram said ''the key challenge of our times is change. The key challenge of a manager is the management of change. The manager is not always, and not only, a change agent. There are others who wish to change the manager.'' Speaking on the objective of driving economic growth to a higher plane, the Minister said in 1800, India accounted for 20 per cent of world trade. Today, the country's share was barely one per cent. The lesson history teaches us was that no country was condemned to remain poor forever and no country could claim to have a perpetual lease on properity.

Many countries that are smaller than India and poorer than India have surged forward. Malaysia and Thailand have wiped out abject poverty. Some have become middle income countries like South Korea.

Some like Sri Lanka have achieved remarkable progress in literacy, life expectancy and other human development indicators, while some have natural advantages. There is none that cannot be equalled or excelled, Mr Chidambaram said.

He was the chief guest on the occasion.

Earlier, 324 graduating students of the Institute received diploma / title at the hands of Chairperson of the Board of Governors of the IIM-A Vijaypat Singhania, who took over yesterday.

Seven students received title of ''Fellow of Indian Institute of Management, Ahmedabad'', while 235 received the diploma. Three received gold medals for scholastic performance. Twenty-two others received PG diploma in agri-business management.

Among the gold winners were Mayank Rawal and James Beson, the first non-Indian.

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