Noted space scientist K Kasturirangan has praised the Tata Nano project for its 'multi-dimensional' approach to problem-solving and achieving the objectives.

"Tata Nano is a unique development. The design and development were carried out from scratch to keep the cost of the car at the Rs 1 lakh (Rs 100,000) level," he said, addressing the 23rd annual convocation of the Indian Institute of Management, Lucknow.

The Nano project has already secured 37 patents abroad for its path-breaking technology and has become a powerful brand worldwide. "However, apart from technology, the setting up of the factory also posed socio-political challenges, but the multi-dimensional approach finally helped in the realisation of the project," he added.

Kasturirangan, who is also director of the National Institute of Advanced Studies, Bangalore, and a Rajya Sabha member, maintained that the concept of management had gone a paradigm shift in recent times and the managers of today needed to have a holistic approach to problem solving.

On the occasion, 230 students in the 23rd batch of post graduate programme in management, 37 students in the 4th batch of PGP in agri-business management, and 2 students in the fellow programme received their degrees.

The placement activity is still on to place a few others. So far, more than 72 companies including banks, FMCG and consulting firms visited the campus.