India: A Critical Growth Engine for Global Corporations, Says Kumar Mangalam Birla
Mumbai, [Date] - Kumar Mangalam Birla, Chairperson of the Aditya Birla Group, highlighted India's pivotal role as not just a consumer market but a significant growth engine for global corporations. Speaking at the silver jubilee celebration of the Aditya Birla Scholarships in Mumbai on Sunday, Birla emphasized that Indian businesses are increasingly confident in making bold global investments despite economic uncertainties.
Birla pointed out that the Aditya Birla Group itself is the largest Indian investor in the U.S., with investments surpassing $15 billion and operations in 20 locations across 15 states. He drew attention to the market capitalization of Suzuki's India business, which now stands at double that of its global parent, a stark contrast to a decade ago when it was only about half.
“Today’s India dares to dream, leads with confidence and is a significant part of the global narrative and in many ways India is a pioneer,” Birla remarked, underscoring the transformation in India's economic stature.
The event also celebrated the 25th anniversary of the Aditya Birla Scholarship programme, established in 1999 in memory of the late industrialist Aditya Vikram Birla. The scholarship, aimed at fostering leadership, has now supported 781 scholars across various disciplines including engineering, management, and law. Over the years, the programme has evaluated over 10,000 applications, maintaining high standards of academic excellence and diversity, with nearly 30% of its scholars being women.
The scholarship programme collaborates with 22 premier institutions in India, including select IITs, BITS Pilani, leading IIMs, XLRI, and National Law Schools, offering substantial financial support to students. Birla stressed the importance of investing in talent, stating, "With this scholarship program, we were driven by the ambition to create a cadre of handpicked leaders who would excel in India and also represent our country abroad."
The programme not only aids in academic pursuits but also encourages active participation in co-curricular activities, aiming to shape well-rounded leaders. The impact of the scholarship is evident through its alumni who are making significant contributions on the global business stage.
As India continues to emerge as a key player in the global economy, initiatives like the Aditya Birla Scholarship are crucial in nurturing the next generation of leaders who will carry forward this legacy of excellence and innovation.