Affirming that even developed countries in the West have acknowledged that the maximum economic activity will be in the East, industrialist Rahul Bajaj on Friday appealed to students from institutions of repute not to leave India as "this is where the action is."

"Students from institutes like the IITs should stay home as this is where the action is," Bajaj, also an MP in the Rajya Sabha said after accepting the business visionary award at the National Institute of Industrial Engineering (NITIE).

He was however very critical of the students who leave the country after enjoying quality subsidised higher education here. "Charge such students at the market rates," he said.

Bajaj, who was also associated with the WTO earlier, also blasted the developed World saying, "they preached about free trade for eight decades but do not even practice fair trade themselves. They are shamelessly protecting their agriculture activity," he said.

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R P Goenka, chairman emeritus of RPG Enterprises was also awarded with the business visionary award by NITIE as part of its innovation festival "Lakshya".

Chairman of Suzlon Energy, Tulsi Tanti and CEO of Adventity Kumar Subramanian were also felicitated.