Tuesday, January 17 2006 16:05 Hrs (IST) - World Time -

Indore: To bridge the vast economic disparity between the rich and poor in the country, the 21st century must combine creation of wealth with eradication of poverty, said Reliance Industries Chairman and Managing Director, Mukesh Ambani here today (Jan 17, 2006).

"The 20th century generated wealth on an unprecedented scale, but at the same time, it created vast economic disparity," Ambani said after dedicating the new campus of Indian Institute of Management (IIM), Indore.

"This model of growth is no longer sustainable and therefore, the 21st century must combine creation of wealth with eradication of poverty by focussing on 'ameeri badhao' (increase affluence) than 'gareebi hatao' (remove poverty) slogan of 1980s," he added.

"I believe that it is possible to achieve both the goals as the technology has placed such tools in our hands. We need to employ these tools wisely and effectively to shape the society and organisations in a new mould," he said.

"In realising this vision, our institutions of management have to grapple with several challenges and the first among them is globalising management education, specially when the Indian organisations are going global and the global organisations are building businesses in India," he said.

Ambani said management education must be integrated with global themes in the curriculum.

Union HRD Minister, Arjun Singh was scheduled to dedicate the institute, but did not turn up due to some other engagements, sources said.