Driving the change is increasing use of Internet, which is changing the business model in India where technology is driving companies to transform themselves, she said.

Kochhar was speaking as the chief guest at the Graduation Day ceremony at the Indian School of Business (ISB) here.

She reminded the audience that one has to learn all the time as "skills become obsolete in no time".

"Illiterates of 21st century are not going to be those who cannot read or right. Illiterates of 21st century are going to be those who cannot learn, relearn and unlearn," Kochhar said.     

ISB Dean Professor Rajendra Srivastava said it is ''heartening" to see that the alumni are already taking on leadership positions.

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