March 21, 2002
'27'28'
SHOVANA NARAYAN & SANJAY BARU BAG IMM AWARD FOR EXCELLENCE
Famous Kathak Dancer Mrs. Shovana Narayan Traxi, Columnist & Editor Mr. Sanjay Baru, Top Management Educator Dr. Pritam Singh, Banker, Ms. Ranjana Kumar, Chief Executive Officer of ONGC, Mr. Subir Raha and Chief Executive Officer of ESCOLIFE, Mrs. Ritu Nanda were given away Institute of Marketing & Management (IMM) awards for excellence at a function here today. The Union Minister of Agriculture, Shri Ajit Singh and Union Minister of Power, Shri Suresh Prabhu gave away the awards to distinguished persons in the field of culture, journalism, banking, marketing, education, entrepreneurship and export on the occasion of 29th World Marketing Congress being held in Delhi from 21st March to 23rd March, 2002.
Speaking on the occasion, Shri Suresh Prabhu said that the Services Sector is going to contribute immensely to the increase in Gross Domestic Product (GDP) in the coming years. He also said that Service Sector like Banking and Insurance will have to cater to the huge investment requirement of the Infrastructure Sector, which is a catalyst for growth. Shri Prabhu pointed out that US $200 billion is needed for the development of the power infrastructure. Savings through insurance can give the funds needed for such long gestation projects, he emphasised. He said that after the recent opening of the Insurance Sector and requirement in Banking Sector, competition in these two areas has become pronounced. Therefore, marketing strategies have to be devised for banking and insurance companies to create more business and contribute to the GDP growth.
Shri Ajit Singh said that Insurance and Banking, which are already playing a crucial role in the Farm Sector, would have to devise strategies in view of the reforms in these Sectors. He said that lack of credit has been a major problem for the farmers and only 60% of the credit requirement of the farmers are being fulfilled by institutional credit. The rest comes from the moneylenders who charge interest ranging anywhere between 25 to 100 per cent, he added. Shri Ajit Singh said that the Government is considering allowing private insurance companies to operate in the farm sector in which there is ample scope for them.
The other awardees were Mr. K.M. Mammen, Vice Chairman & Mg. Director of MRF Ltd.; Mr. Rajiv Gulati, Chairman & Mg. Director of Eli Lilly & Company (India) Pvt.Ltd.; Mr. Adesh Gupta, Executive Director of Liberty Footwear Co.Ltd.,; Mr. H.F. Khurakiwala, Chairman of Wockharat Ltd.; Shri A.S. Bansal, Chairman & Mg. Dir. of TCIL; Mrs. Renuka Ramnath, Mg. Dir. & CEO of ICICI Venture Funds Management Co.Ltd.; Mrs. Sangita Reddy, Mg. Dir. of Apollo Hospitals Gr.; Ms. Sulajja Firodia Motwani, Jt. Managing Dir. of Kinetic Engg. Ltd.; Ms. Anuradha J. Desai, Chairperson of Venkateshwara Hatcheries Ltd.; Ms. Sminu Jindal, Mg. Dir. of SAW Pipes Ltd.; Dr. V.K. Koshy, Chairman & Mg. Dir. of Bharat Electronics Ltd.; Mr. H.V. Goenka, Chairman of Ceat Lt.; Mr. R.C. Surana, President of HEG Ltd. and Mr. S.C. Tripathi, Chairman & Mg,. Dir. of National Aluminium Co. Ltd.