Students prefer entrepreneurship to family business: Ruia

Ahmedabad, June 9 (UNI) Essar Group chairman Shashi Ruia today said with the Indian economy booming, students are not confined to family managed business alone but opting for diverse entrepreneurship.

He made the statement while addressing the ninth convocation of the Post-Graduate Diploma in Business Entrepreneurship and Management and Post-Graduate Diploma in Management of NGOs at Entrepreneurship Development Institute (EDI) of India here.

''Students are opting for the fields of New Enterprise Creation, agri-entrepreneurship and services management apart from family business management indicate the diversity as well as the direction towards the entrepreneurship of our economy,'' Mr Ruia said.

Sharing the genesis and growth of the Essar Group, he said ''From a small beginning, constructing a breakwater for Chennai Port, we took the bold and unprecedented step of acquiring a ship to transport petroleum products -- a domain of international and Shipping Corporation of India vessels only.'' ''The success story began from here with diversification into other businesses of steel, power, communication, oil and gas,'' he said.

Sharing his principles with EDI, Mr Ruia said ''Find a mentor from who you can seek advice and counsel as you venture into new, uncharted areas. Make sure the products or services that you are selling help in nation building and instil a sense of pride in yourself and your people.'' ''Trust your gut feeling even if it turns wrong once in a while.

Do not be afraid to put your neck on the line if you have organised to assess the risks. Surround yourself with people who share your passion, spirit and attitude. Total involvement, application of mind and commitment to the business, day in and day out,'' he said.

Mr Ruia awarded the certificates to 78 students who had successfully completed the course. There were 16 students in New Enterprise Creation, 21 in Family Business Management, seven in Agri-Entrepreneurship, nine in Services Management and 25 in Management of NGOs.

UNI