In an inspiring departure from the traditional perception of business schools as bastions of profit, the Indian Institute of Management Ranchi (IIM Ranchi) is proud to announce the launch of the Soul Carnival. This event promises to redefine the ethos of business leadership and community engagement. Scheduled for February 18, 2024, this pioneering initiative is organised by IIM Ranchi's Social Impact Committee and Hapiness Centre, underscoring the institution's commitment to nurturing leaders who are as compassionate as they are competent.

At its core, the Soul Carnival celebrates the human spirit, embodying the principles of trust, generosity, and collective welfare. The event invites students to set up and manage a variety of stalls, ranging from mouth-watering food offerings like pancakes and lemonades to engaging game booths such as darts and ring toss. However, what sets this year's Soul Carnival apart is reliance on the Trust Economy model – a radical yet resonant approach where transactions at stalls are not fixed by price tags but are left to the discretion and generosity of patrons; the birth of this revolutionary concept was inspired by service space movement of kindness and generosity happening globally.

The Soul Carnival aims to showcase individuals' inherent goodness and trustworthiness in a world often marred by scepticism and transactionality. Patrons are encouraged to pay what they feel is fair or even pay it forward, covering costs for future participants. This model fosters a sense of community and shared joy and serves as a live experiment in the power of empathy and altruism in driving economic exchanges.

Event organisers remarked, "The Soul Carnival is not just an event; it's a statement. It's about demonstrating that the future of business lies in empathy, trust, and social responsibility. We at IIM Ranchi are committed to producing leaders who are not just business-savvy but also heart-forward. This carnival is a testament to our belief that miracles can happen when communities unite, anchored in trust and generosity."

The event also represents a call to action, inviting people from all walks of life to experience the joy of giving, the warmth of community, and the potential of a trust-based economy. In doing so, IIM Ranchi is not just breaking the mould but also paving the way for a new paradigm in business education and practice, where profit and purpose go hand in hand.