Rishi Canak named his son as "Chanakya". Being a teacher himself, he knew the importance of education. Taxila was one of the world centers for education. At a very early age little Chanakya started studying Vedas. The Vedas; considered to be the toughest scriptures to study were completely studied and memorized by Chanakya in his infancy. He was attracted to studies in politics. In politics Chanakya`s acumen and shrewdness was visible right from childhood. He was a student of politics right from child hood. Known as a masterful political strategist, He knew how to put his own people in the opposite camp and spy the enemy without his knowledge before destroying him forever. Chanakya was an ace in turning tables in his favor irrespective of the circumstances. He never budged to pressure tactics by the ruthless politicians. In this way after studying religion and politics, he turned his attention to economics, which remained his lifelong friend. "Nitishastra", a treatise on the ideal way of life shows his in depth study of the Indian way of life
Chanakya, perhaps is the only personality who has been accepted and revered as a genius both by Indian and Western scholars. He is a historical milestone in the making of India amidst tremendous upheavals and myriad`s of reversals. Celebrated as a shrewd statesman and a ruthless administrator, he comes across as the greatest of diplomats of the world. He had the guts to speak his heart out even in front of the rulers, which shows his strong inclination to democratic values and the audacity to put his views through. Although, he lived around the third century BC, his ideas and principles show concurrence and validity in the present day world. Politics was his forte. Diplomacy in a politically charged environment shows his self-confidence and the ability to stay calm in trying situations.
His foresight and wide knowledge coupled with politics of expediency founded the mighty Mauryan Empire in India. He was a great laureate of economics with a glittering intellect to perceive the intricate dynamics of the various economic activities and principles.
The centuries that succeeded him show distinct effects of his thoughts on the way a kingdom is managed and other facets of economic administration. Even today, one of his maxims on taxation is very much alive and calls for adherence by the governments of the world. According to Chanakya, "Taxation should not be a painful process for the people. There should be leniency and caution while deciding the tax structure. Ideally, governments should collect taxes like a honeybee, which sucks just the right amount of honey from the flower so that both can survive. Taxes should be collected in small and not in large proportions".
Chanakya, apart from being a man of wisdom and unfailing strategies, propounded Nitishastra, the ideal way of living for every individual of the society. He looked at the country like a person surrounded by problems. He worked at the total annihilation of problems by the roots. The re-appearance of troubles only shows its growth. His contribution to foreign policy in the present day world is immense. Universities teach his principles to aspiring foreign policy experts showing the infallability of his principles. Chanakya`s art of diplomacy is well known across India and practiced in the areas of defence, strategy formation and foreign relations.