Aditya Vikram Birla earned a chemical engineering degree from MIT, USA. Business families tend to send their scions for overseas business management programmes. Uday Salunkhe, Group Director of Welingkar, explains the reason behind this decision as, “They want some honest international exposure and an independent lifestyle, which they may not get back home. Before they enter their work life, they want some independence and experience of how to deal with that independence and take responsibility.”
Most students prefer a one year PG programme offered by B-Schools in UK and Australia. The main reason for this choice is that these countries allow students to stay back and work for a while.
In most big business families in India, you will find holders of foreign degrees. “When you are the owner of a business in India, you normally tend to meet people who agree with you. We are still a hierarchy-heavy nation,” explains Dr Uday Salunkhe.
Another good example would be Ameera Shah, MD and CEO of Metropolis Healthcare. Having graduated from University of Texas in Austin, Shah transformed her father’s one-lab pathology business into a chain of laboratories across India and other emerging market economies.
Overseas education also creates network opportunities. A survey suggests that 68% of family businesses are engaged in exports, and overseas sales constituted about a quarter of the turnover for all survey respondents.
Education in India provides a demand-supply mismatch in high quality management programmes. In the wake of this challenge, degree courses from abroad become an automatic choice. “Institutes abroad provide a diverse range of specialisations than Indian ones. It is no longer a question of why but a question of why not,” concludes Uday Salunkhe.