INDIACSR News Network
NEW DELHI: Tata Steel was conferred with “Best Conscious Capitalist Award“for 2011-2012 at the Forbes India Leadership Awards, held in Mumbai on 21 October. The award were given out at a scintillating event attended by the crème de la crème of corporate India. Union Minister for Corporate Affairs Mr. Veerappa Moily presented the trophy and commendations to Mr Koushik Chatterjee Group CFO, Tata Steel.
On receiving the Award, Mr Koushik Chatterjee, Chief Financial Officer, Tata Steel stated “it is a great privilege to be honored by Forbes India. To be recognized by Forbes from amongst the best corporats in India means that our constant endeavor to stand up to the expectations of our various stakeholders are paying off.”
Other industry players who were nominated for “Best Conscious Capitalist Award” were Marico, Cipla, Infosys and Wipro. The criteria of the selection was that the organization should have a turnover of least 1000 crore, the organisation must have demonstrated a higher purpose, apart from profit maximization. This should be evident in the way the company deals with all its five stakeholders – employees, customers, suppliers, the community and shareholders. The jury found Tata Steel excelling in all parameters in the criteria.
Tata Steel was chosen a winner in the category by a panel of eminent business personalities headed by K. V Kamath Chairman of Infosys and the non-executive chairman of ICICI bank, Baba Kalyani Chairman Kalyani Group of companies and Chairman & Managing Director of the group’s flagship – Bharat Forge Limited, Akhil K. Gupta Senior Managing Director and Chairman of Blackstone India, Janmejaya Sinha, managing director and chairman of Asia operations at the Boston Consulting Group and Rama Bijapurkar a marketing consultant and also the founding Chairperson of NCAER-CMCR.
Network18 group Chairman Raghav Bahl hosted an in-depth panel discussion on ‘Building an Enterprise/ Transforming an Industry,’ where five award winners shared their perspective on what it took to transform their businesses. Actor Shah Rukh Khan, who upped the glamour quotient in the room, was presented a plaque by Chairman of Forbes Digital, Tim Forbes for being one of India’s finest entertainers.
Established in 1907 as one of Asia’s first integrated private sector steel company, Tata Steel Group is among the top-ten global steel companies with an annual crude steel capacity of over 28 million tonnes per annum (mtpa). It is now the world’s second most geographically diversified steel producer, with operations in 26 countries and a commercial presence in over 50. The Tata Steel Group, with a turnover of US$ 26.4 billion in FY ’10, has over 80,000 employees across five continents and is a Fortune 500 company.
The Group’s vision is to be the world’s steel industry benchmark in “Value Creation” and “Corporate Citizenship” through the excellence of its people, its innovative approach and overall conduct. Underpinning this vision is a performance culture committed to aspirational targets, safety and social responsibility, continuous improvement, openness and transparency. In 2008, Tata Steel India became the first integrated steel plant in the world, outside Japan, to be awarded the Deming Application Prize 2008 for excellence in Total Quality Management.