IIM Ahmedabad Topper: Winning a gold medal from the Indian Institute of Management (IIM) Ahmedabad is a significant achievement in itself. However, the story of an institute topper extends far beyond that medal. Siddhant Agarwal, Rank 1 gold medallist from IIM Ahmedabad’s Class of 2022-24, shared his story with NDTV.
From his education at the Indian Institute of Technology (IIT) Kharagpur and a stint at the US-based firm Capital One to a career in the venture capital sector in India following his MBA at IIM Ahmedabad, Agarwal is now an Associate Vice President at Elevation Capital, investing in startups while based in India. Siddhant Agarwal comes from a middle-class family in Lucknow; his father is both a Chartered Accountant and a teacher. Academically brilliant, Siddhant pursued an integrated dual degree in Mechanical and Financial Engineering at IIT Kharagpur. Subsequently, he worked in risk management at the US-based public company Capital One. After working for some time, he felt drawn toward a role that offered direct engagement with business operations, greater decision-making responsibility, and visible impact. Driven by this mindset, he decided to pursue an MBA. Speaking to NDTV, Agarwal mentioned that while his post-MBA plans were not entirely clear at the time, he felt it was the right move for his career. Agarwal mentioned that he received offers from IIM Ahmedabad, IIM Bangalore, and IIM Calcutta, however, he chose Ahmedabad, considering it one of the country’s premier MBA institutions. Agarwal mentioned that to make his way to IIM Ahmedabad, he began preparing for the CAT exam during the final year of his graduation. The institute topper relied primarily on self-study, supplemented by mock test series that helped him understand the exam pattern and devise the right strategy. Through NDTV, Agarwal has advised students preparing for the CAT to first identify their strengths and weaknesses and formulate a plan based on them. Sharing his experience, Agarwal mentioned that at IIM Ahmedabad, he particularly enjoyed the case-study-based learning approach. Beyond academics, his experiences with competitions, campus friendships, and a foreign exchange programme further honed his skills. However, the key factors behind securing the top rank in the entire batch, amidst such a competitive environment, were discipline and the ability to set priorities, he noted. Agarwal asserted that during an MBA programme, students face the challenge of balancing social life, career aspirations, and academics. He further noted that he decided early on that academics would be his top priority. Among his most cherished campus memories are the late-night bike rides. He shared that after a hectic day, he often rode his bike with friends to the Sabarmati Riverfront. He does not entirely subscribe to that notion, he noted. However, he encountered individuals with diverse capabilities, interests, and personalities on campus. It is this very diversity that makes the IIM Ahmedabad experience unique, he asserted. Looking back at his journey after two years, Agarwal acknowledged the role that IIM Ahmedabad network has played in his career. He pointed out that the alumni network, spanning the country and the globe, facilitates access to new opportunities and connections. AI could further accelerate this transformation in the coming years, he asserted. In conversation with NDTV, he noted that AI has the potential to revolutionise customer experiences and services within the fintech and consumer tech sectors. He also viewed the rising investment in deep tech as crucial for India’s future. it could eventually become a major driver of economic growth, he stated While this sector may take time to yield results. AI has also enabled the ability to accomplish more with fewer resources, he added. He further shared that currently, rather than starting a business himself, he is focusing on supporting founders and remains highly enthusiastic about India’s startup ecosystem. Despite graduating from prestigious institutions like IIT and IIM, Agarwal chose to stay and work in India.
He achieved a 99.97 percentile on his first attempt. This clarity helped him manage his time and energy effectively, ultimately leading him to secure the institute’s Rank 1 and the gold medal, he added. They frequently headed out for ice cream after 2 am and grabbed ‘poha’ at 4 am – all while ensuring they made it to their 9 am class.
Agarwal told NDTV that his memories of IIM Ahmedabad do not only include academics and the medal. Agarwal further said that there is a common perception that every student at IIM Ahmedabad is a bookworm, focused solely on academic achievements. The competition is certainly fierce, and the stakes involved in an MBA are higher compared to undergraduate studies, according to him. Furthermore, the institute’s reputation lends credibility during the early stages of one’s career, he said. Sharing his optimism about India’s economy, Agarwal said that he believes the country is at a pivotal juncture, transitioning from a middle-income to a high-income economy. The environment for young entrepreneurs in India has improved significantly compared to the past, according to Agarwal. Access to capital, mentorship, and talent has expanded, he said. The gold medallist told us that he believes the greatest need now is not just capital, but confidence and the willingness to take risks. He further said that believes in the coming years, India will carve out a distinct and powerful niche for itself on the global economic map.
Today, he serves as an Associate Vice President at Elevation Capital, focusing on investments in fintech startups. Agarwal shared his message for the youth that the scope of possibilities today is far greater than before, and the self-imposed limitations that young people once accepted have largely been shattered. It was during this time that Elevation Capital visited the IIM Ahmedabad campus for placements, offering Siddhant the opportunity to work in his preferred field. Despite having international work experience, he chose India as his base of operations. Many such founders, particularly in the US, have built major companies, he noted. Agarwal added that he believes Indian talent is now viewed seriously across the globe.
Prior to joining IIM Ahmedabad, Agarwal worked in risk management at Capital One, where his initial compensation package was under Rs 20 lakh. The job market in 2024 was challenging, with intense competition for roles in the consulting sector.
Founders of Indian origin working abroad have strengthened the global recognition of Indian talent, according to the IIT-IIM graduate.
Before the second year of his MBA, he interned at Venture Highway, an early-stage fund.
Agarwal also mentioned that now he leverages this network not only to advance his own career, but to support the next generation of Indian entrepreneurs and startup founders.
