Padma Bhushan Dr Jamshed Jiji Irani said it was a great honor for him to be invited to deliver the inaugural Jal P. Gimi Memorial Lecture held on February 10, 2007 at Nagpur University’s Jamsetji Tata Convocation Hall and presided over by vice chancellor Dr S. N. Pathan.
There was a large turnout of Parsis in the audience as the late Jal P. Gimi had been a well-known senior figure in academic circles having served Nagpur University for 42 years as lecturer, member of the Senate, Academic Council and Executive Council. He started the Department of Business Management and served as its first director. He also held the position of vice chancellor of the University for a brief period of time.
Gimi served with distinction as Executive Member of the Bharatiya Vidya Bhavan, Trustee of the J. N. Tata School and President of the Nagpur and Kamthi Parsi Zarthosti Anjuman. "Friend, philosopher and guide of many but enemy of none,” was how former Mayor Kundatai Vijaykar described Gimi with affection and nostalgia while making the introductory remarks.
Dr Thrity Patel, Head of the Department of Law, Nagpur University, introducing Irani, said that the honors and accolades bestowed upon this son of Nagpur are many. From graduating as a gold medalist from Nagpur University in 1958 to being awarded the Padma Bhushan, he has been the worthy recipient of many a national and international award.
Taking the stage, Irani said his family and the Gimi family went back a long way. "There was a lot of chemistry between the two families.” He admitted that he felt nostalgic at being in the Jamsetji Tata Convocation Hall "for only the second time in my life. The first was 50 years ago when I stood here to receive my degree.”
Vice Chancellor S. N. Pathari honors Dr J. J. Irani at the Jal P. Gimi Memorial Lecture
Directing the next 45 minutes of his talk to the large gathering of management students who had come to hear him, Irani said, "Our future rests on the shoulders of these young men and women, to whom we have passed on the baton.” Deviating from his topic of "Corporate Values and Corporate Governance” Irani gave some useful tips to these aspiring corporate leaders. "The outside world is a rough place,” he warned. "A mere degree is not enough. One must deliver.”
Some of the points he made were: To be a good leader, first have a plan. Set your goal and work towards it. Second, seize opportunity. It seldom knocks twice. Don’t ever count on luck for continuing success. It is important to work as a team. Aim to lead the team but only through fair means. Serve as a strong anchor and provide your team with courage and conviction. Communicate effectively. The world will pass you by and your brilliance may remain untapped if you wait to be noticed. Whether you believe it or not, ethics in business always pays. Values transmit trust, which is the essence of all relationships, Irani advised.
"Corporate values and corporate governance flow from the Board,” said Irani. "When Narsimha Rao was Prime Minister, he called a meeting of industry heads and asked them to set aside one percent of their net profit for community projects. All the head honchos agreed and the Prime Minister was happy. Only J.R.D., Ratan and I knew that TISCO regularly set aside from three to 20 per cent of their net profit for community work. That is what I call good corporate responsibility!” Every company has a continuing responsibility to the area where it is based, he stressed. "One cannot have a spike of prosperity in a sea of poverty.”
A lively question and answer session followed his talk. Irani opined that the Indian economy was robust and booming. "Fifteen years ago we went with a begging bowl to the International Monetary Fund. Today our economy is second to none. We have a 350 million strong middle class on whose back the wave of prosperity is riding.”
When questioned about the small car imbroglio in West Bengal, Irani distanced the Tata Group from the Singur controversy saying it was the fallout of infighting among politicians. "The affected people are getting a good deal and they know it.”
On the current educational system Irani said the authorities should focus on providing quality education with teachers of higher caliber rather than merely increasing numbers. "Second class teachers will produce third class students,” he predicted.
Dr Mehroo Major, head of the Department of Linguistics and Foreign Languages and Managing Trustee of the J. N. Tata School, ably compered the proceedings.
Dilnavaz E. Bhagwagar