A Tribute to Dr Manmohan Singh, An Inspiring Indian

Some memories brighten up with passing years! The nostalgic reflection of my privileged opportunity to interact with Dr. Manmohan Singh 25 years ago during my tenure (1994-2001) as the Dean of the Institute of Chartered Financial Analysts of India (ICFAI) is one such memory. Dr. Manmohan Singh was the Chief Guest at the XI Convocation of ICFAI, held in 1999 at Hyderabad, during his tenure as the Leader of Opposition in the Rajya Sabha.

I vividly recall the privilege of interacting with Dr. Manmohan Singh on multiple occasions in the lead-up to the event, particularly when extending the invitation to him to serve as the Chief Guest, which I had been doing under the guidance of Shri N J Yasaswy, the Founder of ICFAI. It was a moment of immense delight and honour when he graciously accepted our invitation. During his visit to Hyderabad, I had further opportunities to engage with him alongside members of the ICFAI Board of Governors and senior colleagues. His presence was truly inspiring, and the conversations we had left a lasting impression on all of us.

Dr. Manmohan Singh shared invaluable insights drawn from his extensive experience and profound understanding of economics, particularly his aspirations for the nation in the wake of the landmark economic reforms of 1991, during his tenure as Finance Minister. One specific topic he emphasized during our discussions was the critical importance of ensuring electricity access across urban and rural India. He underscored that electricity is a cornerstone of economic development and that achieving universal access was essential for India to meet its ambitious growth objectives. While this insight may seem self-evident today, his economic foresight and clarity of thought at the time highlighted his realistic grasp of the prerequisites for sustained and inclusive development.

Reflecting on the Convocation Address delivered by Dr. Manmohan Singh 25 years ago serves as a fitting tribute to his remarkable intellect and leadership. In his address, he acknowledged the vision and pioneering spirit of ICFAI’s key architects - Dr. A. Besant C. Raj, Shri N. J. Yasaswy, and Dr. Prasanna Chandra - for their efforts in shaping a new generation of finance professionals. He commended ICFAI’s rapid rise as an institution of national prominence since its inception in 1984. Dr. Manmohan Singh remarked, “India’s financial system faces a challenging task as it grapples with the problems of development and modernization. We need men and women of the highest intellect and integrity to find meaningful solutions to these problems... we need a mindset that accepts the inevitability of change and indeed celebrates it.” He emphasized the need for entrepreneurs and managers deeply committed to excellence and operating at the forefront of technical and scientific innovation. He also shared poignant reflections on the economic crisis that precipitated the reforms of 1991, emphasizing how those reforms had set India on a transformative path of economic growth. Highlighting India’s evolving role in the global economy, he said, “All of us must recapture the high spirit of idealism, dedication, and patriotism that inspired our freedom struggle... the task ahead is to mobilize our vast human and material resources to make the future happen.” These words are a testament to his vision as a progressive economist and a statesman of extraordinary foresight.

Having had the privilege of meeting Dr. Manmohan Singh in person and observing his public life over the years, I hold him in the highest regard. He personified humility, and his unassuming demeanour was disarming. His intellectual brilliance, coupled with his lifelong dedication to learning, made him an icon of unparalleled stature. It is often said that humility enhances one’s ability to learn and solve problems, and Dr. Manmohan Singh exemplifies this principle in ways few others do. He remains a role model whose life and achievements offer invaluable lessons for us all. He was truly an embodiment of several virtues, scholarship, and statesmanship.