India: A Pivotal Growth Engine for Global Corporations, Says Kumar Mangalam Birla
Mumbai, October 29, 2023 - Kumar Mangalam Birla, Chairperson of the Aditya Birla Group, highlighted India's escalating role in the global business landscape during the celebration of the 25th anniversary of the Aditya Birla Scholarships in Mumbai. Birla noted that India is no longer just another market but a critical growth engine for global corporations seeking to enhance their fortunes.
Addressing the gathering, Birla emphasized the aggressive international expansion by Indian businesses despite the uncertain global economic environment. "Indian companies are not shying away from making bold global investments," he stated, pointing out that the Aditya Birla Group itself has invested over $15 billion in the United States, establishing manufacturing operations in 20 locations across 15 states.
Birla also provided an example of the growing influence of Indian markets by referencing the market capitalization of Suzuki's India business, which has now surpassed that of its global parent, a stark contrast from a decade ago when it was only half. "Today’s India dares to dream, leads with confidence, and is a significant part of the global narrative," he remarked, underscoring India's pioneering role on the world stage.
The event also served to reflect on the impact of the Aditya Birla Scholarship, established in 1999 in honor of the group's visionary leader, Aditya Vikram Birla. The scholarship aims to foster a new generation of leaders who excel not only within India but also represent the country on a global platform. Over the years, the program has evaluated more than 10,000 applications, resulting in 781 scholars from engineering, management, and law disciplines.
The scholarship program has achieved gender parity with women making up nearly 30% of its scholars and collaborates with 22 premier educational institutions in India. It is noted for its rigorous selection process, which demands not just academic excellence but also active participation in co-curricular activities.
Birla concluded by stating, "Investment in talent shapes the future, and through this scholarship, we aim to create leaders who will drive change both in India and internationally." The program's success is evident in its alumni, who are making significant contributions across the global business landscape.