India: A Key Growth Engine for Global Corporations, Says Kumar Mangalam Birla
Mumbai, November 12, 2023 - Kumar Mangalam Birla, Chairperson of the Aditya Birla Group, highlighted India's pivotal role in the global economy during the silver jubilee celebration of the Aditya Birla Scholarships programme here on Sunday. Birla stated that global corporations now view India not merely as another market but as a critical growth engine vital for enhancing their worldwide business prospects.
Birla emphasized the confidence of Indian businesses in making significant global investments despite an uncertain international environment. "India dares to dream, leads with confidence, and is a significant part of the global narrative," he remarked, citing the example of Suzuki's India business, which now boasts a market capitalization double that of its Japanese parent, a stark contrast from a decade ago when it was only half.
The Aditya Birla Group itself stands as India's largest investor in the US, with investments surpassing $15 billion and manufacturing operations spread across 20 locations in 15 states. Birla's comments underline the strategic importance of investments in human capital, which he believes shapes the future.
The Aditya Birla Scholarships, established in 1999 in memory of the late industrialist Aditya Vikram Birla, has evolved into one of India's most prestigious merit-based scholarship programs. Celebrating its 25th anniversary, the program has assessed over 10,000 applications, selecting 781 scholars from fields like engineering, management, and law.
The scholarship has not only maintained high standards of academic excellence but also achieved gender parity, with women comprising nearly 30% of its recipients. It collaborates with 22 premier educational institutions across India, including IITs, IIMs, BITS Pilani, XLRI, and National Law Schools, offering substantial financial support to nurture future leaders who can excel both in India and on the global stage.
Birla reiterated the program's commitment to fostering a cadre of leaders who will represent India's capabilities internationally, echoing his belief that investment in talent is fundamental to shaping a prosperous future.