India: A Global Growth Engine and Hub for Talent, says Kumar Mangalam Birla
Mumbai, April 21, 2024 - Kumar Mangalam Birla, Chairperson of the Aditya Birla Group, underscored India's rising stature as not merely a consumer market but a pivotal growth engine for global corporations during the silver jubilee celebration of the Aditya Birla Scholarships in Mumbai on Sunday.
"India is not just another market but a critical growth engine for global corporations," Birla stated, emphasizing the confidence and ambition of Indian businesses to make significant global investments despite the uncertain international economic environment. He highlighted the Aditya Birla Group's substantial investments in the United States, where it stands as India's largest investor with over $15 billion invested and manufacturing operations in 20 locations across 15 states.
Birla also pointed out the transformation in the market capitalization of companies like Suzuki in India, noting that its Indian business now boasts a market cap double that of its global parent, a stark contrast from a decade ago. "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," he added.
The event also celebrated the 25th anniversary of the Aditya Birla Scholarships, which was established in 1999 in memory of the late industrialist Aditya Vikram Birla. The scholarship program, aimed at fostering a new cadre of leaders, has now supported 781 scholars across engineering, management, and law. Over the years, more than 10,000 applications have been meticulously evaluated, maintaining a commitment to excellence and diversity.
"Investment in talent shapes the future," Birla remarked, explaining the ethos behind starting the scholarship program. The initiative has achieved gender parity, with nearly 30% of its scholars being women, and partners with 22 premier educational institutions in India.
The scholarships not only offer substantial financial support but also demand sustained academic excellence and engagement in co-curricular activities, ensuring that recipients are well-rounded leaders capable of representing India on global platforms.
Birla's insights reflect a broader trend where Indian corporations and talent are increasingly viewed as vital components in the global economic landscape, reinforcing India's position as a land of opportunity and innovation.