The 39th Convocation of the Indian Institute of Technology, Bombay was held on Friday10th August 2001 at 4.00 p.m. at the IIT Convocation Hall. Mr. Victor J. Menezes, Chairman & CEO, Citibank,N.A., USA was the Chief Guest and delivered the Convocation Address.

Addressing the new graduates, Mr. Victor Menezes said, "The combination of rigorous thinking, hard work and fundamentals is what you have got from this great institution, and they will be the building blocks in whatever career you may choose".

He cautioned the young graduates that globalization of people, technology, finance, consumer products, ideas, etc., is here to stay. But, the free flow of capital and products and ideas and people is probably the single biggest engine of growth the world possesses and can drive million s out of poverty, Mr. Menezes said and added, "Technologies come and go, much of what you learnt may change five years from now - but, the fundamentals remain. It is clear from all the rubble in Silicon Valley that those people who focussed on core and fundamental technologies prospered, and those caught up in the dot.com marketing phase got burnt up".

He exhorted the gathering that three trends - globalization, technology and markets would shape the world they seek to build their careers in and he was convinced that the IIT experience prepares them very well for the new global order.

Introducing the Chief Guest, Prof. M.G.K.Menon, Chairman, Board of Governors, IIT Bombay, said that Mr. Victor J. Menezes is a product of IIT Bombay who reached the highest levels of banking and finance, with great expertise in the newly emerging areas relevant to globalization, of mergers and acquisitions, and in relationships which build trust in shareholders along with the necessary regulatory mechanisms - aspects which we find sadly lacking in the financial system of the country today. He is a fine example of what a good education, even if highly technical, can do to bring out qualities of leadership, with abilities to handle issues over wide-ranging areas, even those far removed from one's original training, Prof. Menon added.

The Director, IIT Bombay, Prof. Ashok Misra while presenting his report said that , "Our Vision at IIT Bombay is to be the fountainhead of new ideas and of innovators in Technology and Science and our Mission is to create an ambience in which new ideas, research and scholarship flourish and from which the leaders and innovators of tomorrow will emerge".

Degree of Doctor of Science (Honoris Causa) was conferred on Dr. Arun Netravali, President, Bell Laboratories, USA, on the occasion. Dr. Netravali, who is also a distinguished alumnus of IIT Bombay and a scientist of high stature, has brought honour to the Institute by his achievements in the field of visual communications, computer systems and communication sciences. He is the first alumnus of the Institute to receive this prestigious degree from his alma mater. The Award was received by his sister as he could not attend in person.