Managing supply is Indian economy's biggest challenge: Suresh Prabhu presents AIMA Managing India Awards 2016
28 April 2016, New Delhi. Suresh Prabhu, Minister of Railways, told Indian industry that while the rest of the world is currently faced with the challenge of weak demand, India has a huge unmet demand despite global overcapacity. "India needs a strategy to increase supply in innovative ways," he said. He was speaking at the AIMA Managing India Awards ceremony in the capital.
Prabhu gave the example of India's initiative to increase supply of energy through the renewable sources as India was short on conventional fuels. He said that India was on its way to become the largest producer of energy from renewable sources.
The uncertainty coming from externalities was a key challenge for Indian companies, Prabhu said. "Nobody seems to know what is happening as what's happening thousands of miles away can affect any business," he said. "Even at G20 meetings, the challenge is to understand the uncertainty and manage the future of the national and global economy," he added.
Prabhu applauded the award winners and he commended AIMA for honouring champions from diverse domains.
AIMA Managing India Awards are given every year to distinguished business leaders, philanthropists, startups, artists and Indian and foreign multinationals. These awards honour the outstanding individuals and companies that make a substantial contribution to India's social and economic development and its global prestige.
The awards were instituted in 2010 and its past winners include Mukesh Ambani, Kumar Managalam Birla, NR Narayanamurthy, E Sreedharan, Aditya Puri, Dilip Sanghvi, Aroon Purie and Deepak Parekh. The companies that have won these prestigious awards in the past include TCS, Aditya Birla Group, Samsung, Microsoft, Hyundai and ONGC.
The list of the 2016 AIMA Managing India Awards and their winners is as follows:
Transformational Business Leader of the Year – Sachin Bansal, Executive Chairman & Co-Founder, Flipkart
MNC in India of the Year – Amazon Seller Services Pvt Ltd, Presented to Amit Agarwal, Vice President & Country Manager, Amazon India
Outstanding Contribution to Media – Rajat Sharma, Chairman & Editor-in-Chief, India TV
Indian MNC of the Year – Dr Reddy's Laboratories Ltd Presented to Satish Reddy, Chairman, Dr Reddy's Laboratories Ltd
Corporate Citizen of the Year - Ajay Piramal, Chairman, Piramal Group
Business Leader of the Year – Rajiv Bajaj, Managing Director, Bajaj Auto Ltd
Outstanding Institution Builder – S Ramadorai, Former Vice Chairman, Tata Consultancy Services and Chairman, National Skill Development Agency & National Skill Development Corporation
In his acceptance speech, Ramadorai said, "Meeting the country's skill development challenge required Indian companies to recognize skills, give dignity to skills and pay the skilled people the wages they deserved."
Sachin Bansal accepted the award on behalf of Flipkart's 35,000 employees. "The AIMA Managing India Award is a motivation to do more," he said.
Amit Agarwal said, "Amazon feels honoured to be a part of the amazing transformation in India."
Rajat Sharma accepted his award saying, "Thank you for the award at a time when people think that all the trouble is created by the media." He dedicated the award to all the people in television who work behind the camera without any credit or fame.
Satish Reddy credited the award for Dr Reddy's to the vision of the company's founder, Dr Anji Reddy, who believed that good health could not wait.
In his acceptance speech, Ajay Piramal thanked the government for partnering the private initiatives in social entrepreneurship. "Scale is important in social initiatives and scale can be achieved only by working with the government," he said.
Rajiv Bajaj said that he had a dream of making a motorcycle that that will make Indians feel that they were ahead of the rest in the world. "Half of what we produce goes overseas and 70% of India's motorcycles exports are from Bajaj," he said.
The All India Management Association (AIMA) is the national apex body of the management profession in India. Over the last five decades, AIMA has contributed immensely to the enhancement of management capability in the country.
AIMA has a broad base of 64 Local Management Associations including two cooperating LMAs abroad, with a membership crossing 30,000 in number. AIMA is a non-lobbying organisation, working closely with Industry, Government, Academia and students to further the cause of the management profession in India. AIMA is represented on the Boards of India's premier Business Institutions like Indian Institute of Management – IIMs. AIMA is also represented on Boards of Government bodies including the All India Council for Technical Education, National Board of Accreditation, National Productivity Council to name a few.
AIMA makes a salutary contribution to management learning and practice in the country by offering various services in the areas of testing, distance education, research, publications and management development programmes.
AIMA brings to the Indian managers, the best management practices and techniques through numerous foreign collaborations with professional bodies and institutions. AIMA is a member of the Asian Association of Management Organisations (AAMO) and works closely with several international management institutions like Robert H Smith School of Business at the University of Maryland, St Gallen Foundation etc. in organising international conferences and management development programmes. To know more please log on to www.aima.in
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