GMR, ICFAI ink pact
The ICFAI University and Parampara Family Business Institute (PFBI), a GMR social initiative, signed an MoU for academic collaboration with the objective of cooperating in the areas of research, conferences, workshops, case studies, and other academic activities related to family business.
G M Rao, founder and chairman of GMR Group said, “India has tremendous entrepreneurial talent but only two private groups in the country feature in the list of Global Fortune 500 companies. In the US and Europe, big corporates are run by family groups and it is common to find centuries old family businesses running successfully.”
He was delivering the sixth foundation day lecture on ‘Creating an Institution in Perpetuity’ at the ICFAI University. He traced his 40 year journey as an entrepreneur and how he developed the group with an initial investment of Rs 3 lakh to a $10 billion conglomerate. He narrated his journey illustrating several examples of how he faced challenges and converted them into opportunities through positive attitude, can-do spirit and self belief.