Statement made on digital platform by Anil Agarwal, Chairman – Vedanta Group
KRC Times Tell Tale Teaser Team
Who built America? You will be surprised – no politician, scientist or intellectual. History Channel has an amazing series on this topic in which they have chosen just entrepreneurs. Five among thousands. Cornelius Vanderbilt, Andrew Carnegie, John Rockefeller, JP Morgan and Henry Ford. These five gentlemen built the fundamental, core industries – infrastructure, steel, oil, banking and automobiles respectively.
These entrepreneurs also founded philanthropy as we know it today. Most of them gave away a majority of their wealth to society in their lifetime. One reason for America’s greatness today is its university system. It is the hub of thinking and innovation.
Much of it, almost all the top 40, was built by private philanthropy. In fact, some of the best libraries, think tanks and hospitals in America were also built by the wealth entrepreneurs gave back. Not just these five, but thousands of them. All of them also fulfilled their responsibility towards their children by supporting their passion. Some stayed in the business, others exited.
Eventually, the businesses became institutions and survive and thrive to this day. All their ventures were treated as national assets, not family silver. American capitalism is vibrant, dynamic and has wide social acceptance because of these incredible entrepreneurs. They did something different. India shares some of its DNA with the US.
It is a large country with a tradition of entrepreneurship and blessed with tremendous natural resources and human resources. Who will build that India? We must encourage our entrepreneurs, trust them, give them respect and dignity.
They will build assets, harness natural resources, create jobs, contribute revenue and accelerate India’s rise. Let us not distract them with processes. Allow self-certification and let them focus all their energies productively, building their business. I have no doubt that we can do even better than America. Our natural resources and human resources are tremendous. The power and potential of our women is unparalleled.
I am confident that dynamic entrepreneurship with a philanthropic mindset, facilitated by Government and appreciated by society is what will make India the number one country in the world. If this won’t happen in the time of Modi government, which is recognised by the world for its dynamism, then when will it happen?
~ Anil Agarwal, Chairman – Vedanta Group
