Ajay Piramal asserts the route to success at Print Summit

Backing his opinion he states how once a feudalist country, India, now has educated middle class entrepreneurs coming on the fore to form business ventures. “A Narayana Murthy or a Nandan Nilekani change business and not follow them," stated Sanghvi.

“Values too have economic stature. They are a source of competitive advantage an individual has and can transfer to his business,” said Ajay Piramal chairman of Piramal Healthcare.

Piramal, interviewed by Sanghvi on the second day of Print Summit 2012, regaled his experiences to state the vital components of a successful business.

Piramal believes that the basic values of individuals are identical across countries and the most looked for merit is trust and integrity. “Success and integrity, most of the times are synonymous. Integrity, in its simplest form means to say and practise what you think. You practise integrity in your business and it will have commercial sense added to it.”

Detachment is another value Piramal considered vital. “Your decisions determine your readiness to take risks and do things unconventionally. Attachment to your business makes the process only more complex,” added Piramal. He stressed on encouraging decision making as a habit from an early age.

“The route to a successful business is knowledge about the market and the country, acceptance of technology, and the skilled workforce required to run it,” concluded Piramal.