The Global Centre for Enterprise Risk Management was formally inaugurated by Rajeev Tanna, CFIRM and Chairman of IRM India Regional Group. The event was attended by Sandip Datta, former Chief Risk Officer of ITC Limited, along with Dr. Ashok K. Chitkara, Chancellor of Chitkara University, Dr. Sandhir Sharma, Vice Chancellor of Chitkara University, Hersh Shah, Chief Executive Officer of IRM India Affiliate, and several distinguished leaders from academia, industry and governance.
The inauguration reflected a shared commitment to building future-ready institutions capable of integrating internationally recognised frameworks with India's rapidly evolving risk environment. Shailesh Haribhakti, Governance Board Member of IRM India Affiliate, also joined the ceremony virtually and shared his perspectives on the increasing importance of governance, resilience and enterprise risk management in an increasingly dynamic global landscape.
Punjab, widely recognised for its entrepreneurial spirit, leadership culture and international outlook, provides a strong foundation for such an initiative. The establishment of the Centre aligns with the state's longstanding legacy of enterprise and its expanding role in modern education and innovation ecosystems. By introducing globally benchmarked enterprise risk management standards into the academic environment, the Centre aims to equip students and professionals with the capabilities required to navigate uncertainty, complexity and rapid change.
The Global Centre for ERM at Chitkara University has been envisioned as more than a conventional academic facility. It is designed as a comprehensive ecosystem that promotes risk intelligence as a core leadership competency. Through access to IRM's globally recognised ERM qualifications, academic resources and industry-led expertise, the Centre will help learners develop a structured understanding of risk across finance, technology, operations, governance and sustainability.
As global economies continue to confront interconnected challenges ranging from geopolitical developments and cyber threats to climate risks and financial volatility, enterprise risk management has become increasingly critical. The Centre aims to bridge the gap between academic theory and practical application by creating opportunities for research, collaboration and dialogue between academia and industry. This approach is expected to nurture a new generation of professionals capable of identifying, assessing and responding effectively to complex risks.
The initiative further strengthens IRM India Affiliate's broader vision of building a risk-intelligent and resilient India. With a presence in more than 140 countries and a legacy spanning over four decades, IRM has played a leading role in advancing enterprise risk management globally. Its partnership with Chitkara University represents a strategic effort to embed these international standards within India's higher education ecosystem and ensure that students gain globally relevant skills and perspectives.
Dr. Ashok K. Chitkara, Chancellor of Chitkara University, said that risk management has become increasingly important as organisations operate in a complex and uncertain global environment. He stated that risk awareness and strategic decision-making are essential competencies for future business leaders and that the Centre of Excellence will play a crucial role in developing those capabilities.
Hersh Shah, Chief Executive Officer of IRM India Affiliate, described risk intelligence as a leadership imperative in the modern era. He stated that the launch of the Global Centre for Enterprise Risk Management at Chitkara University represents a significant step towards embedding globally benchmarked ERM education in India. According to him, the Centre will equip students and professionals with the skills and mindset necessary to navigate uncertainty, make informed decisions and contribute to a more resilient and future-ready economy.
Rajeev Tanna, CFIRM and Chairman of IRM India Regional Group, said that as organisations face an increasingly complex risk environment, risk intelligence and risk resilience have become critical for leadership and sustainable growth. He noted that the Centre would strengthen risk education, industry collaboration and knowledge-sharing while providing students and professionals with globally relevant ERM practices and decision-making tools.
Strategically located in Punjab, the Centre is expected to play a vital role in expanding regional capacity for risk education and professional development. It will strengthen industry-academia engagement, encourage risk-aware entrepreneurship and support policy-focused thinking in governance and resilience. The initiative is also aligned with India's broader ambition of becoming a globally competitive and innovation-driven economy.
The launch of the Global Centre for Enterprise Risk Management at Chitkara University highlights the growing recognition of risk intelligence as a critical capability for the future. Anchored in Punjab's spirit of progress and ambition, the Centre is expected to create a lasting impact by developing leaders capable of driving sustainable growth, informed decision-making and long-term resilience in an increasingly complex global environment.
Chitkara University is a University Grants Commission-recognised and National Assessment and Accreditation Council A+ accredited private university with campuses in Punjab and Himachal Pradesh. The institution is recognised among India's leading universities through rankings by the National Institutional Ranking Framework, QS World University Rankings and Times Higher Education. It offers undergraduate and postgraduate programmes across engineering, business, healthcare, pharmacy, design, architecture, hospitality and emerging technologies, including artificial intelligence, data science and machine learning.
The university's academic framework integrates internships, live industry projects and research into its core curriculum. Supported by more than 2,000 campus recruiters and over 300 international academic and industry partners, Chitkara University also offers Global Pathway programmes developed in collaboration with leading universities in the United States, Australia and Canada, enabling students to complete part of their studies abroad. With a strong focus on innovation, entrepreneurship and applied learning, the institution continues to prepare graduates for professional opportunities in India and across international markets.
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