Kolkata, Mar 19 (IBNS) Business and industry in Kolkata witnessed a new awards ceremony at the Taj Bengal recently, as the ET Bengal Corporate Awards kicked off amidst rewards, recognitions and a lot of corporate glitz.
The award is a co-creation of The Economic Times and the Association of Corporate Advisors & Executives (ACAE).
The highlight of the event was the conferring of the Lifetime Achievement Award on R P Goenka, Chairman Emeritus of the RPG Group, for his contributions to the cause of industry in Bengal.
Goenka was unable to attend the event due to ill health. His son Sanjiv Goenka received the award on his behalf.
A total of 12 awards were given out as part of the evening's proceedings that was anchored by ET Now Senior Editor Paromita Chatterjee.
The chief guest was Union Minister of State for Corporate Affairs (independent charge), Sachin Pilot, while the guest of honour was chairman, Manipal Global, TV Mohandas Pai (he was formerly with Infosys).
Speaking on the occasion, Pai said, "India should focus more on labour-intensive industries to absorb over 13 million people who join the workforce every year and also to absorb people migrating from agriculture.
"China, has, over the last 20 years, moved 300 million people from agriculture to industry and smaller cities and it is this transformation that has brought stability to its economy."
On his part, Pilot noted that India needs around 12 million mew jobs every year to sustain the current level of unemployment.
"We need to shift people from farmland to shop floors. But it is not an easy task as they do not have the necessary skill sets or education to work in an industry," he said.
"We need to make policies easier to encourage setting up of new manufacturing units and hence investment and job creation."
The minister also stressed on how his department is now trying to ease the process of winding up of companies which, till date, takes years involving a lot of cumbersome process.
On Pai's comparison with China, he said, "Comparisons of India's economic progress with that of China's is very common; but one must realise that the two countries are poles apart in their federal structures which makes decision taking a comparatively much more time-consuming job in India than in China."
All the 12 awards were given away by Pilot.
Srei Infrastructure Finance Ltd was chosen as the Best Entity in the area of Corporate Governance.
The award for the Best Entity in the area of Environment-Friendly Business Practices went to Tantia Agrochemicals Pvt Ltd. Berger Paints was the Best Entity in the area of New Product/ Process Development. La Opala RG Ltd was the Best Entity in the area of Innovation in Business Model.
Great Eastern Energy Corporation Ltd won the award as the Best Entity in the area of Corporate Social Responsibility.
Himadri Chemicals & Industries Ltd was chosen as the Existing Large Corporate with more than 1,000-crore turnover. Tega Industries won the award as the Existing Large Corporate with a turnover ranging between` 300 crore and `1,000 crore.
Indus Net Technologies was awarded as the Existing Large Corporate with a turnover of less than `300 crore.
The award for the New Entrepreneurial Venture with more than `30-crore turnover was given to Vikram Solar Private Ltd. Elmac Aggro was the New Entrepreneurial Venture with a turnover of `10-30 crore.
Sarada Jute Mills Pvt Ltd bagged the award for the New Entrepreneurial Venture with a turnover below`10 crore.
The awardees were selected through a rigorous and transparent process by professors of four of the top-most B-schools in the country.
The jury comprised Dr Ranjan Das, professor of strategic management at IIM Calcutta, Saral Mukherjee, associate professor at IIM Ahmedabad, Raveendra Chittoor, assistant professor of strategy at ISB Hyderabad and Ganesh N Prabhu, professor of corporate strategy at IIM Bangalore.