Developing biz into models of excellence calls for deeper application of management: President
Updated: Jul 28, 2015 12:10:15pm
New Delhi, July 28 (KNN) Developing businesses into models of excellence calls for deeper application of management principles and also requires a better appreciation of the socio-economic realities, said President Pranab Mukherjee.
He was addressing at the inauguration of the Centenary Celebrations of the Federation of Karnataka Chambers of Commerce and Industry (FKCCI) on Monday.
Mukherjee said, “Businesses are meant not only to earn profits for their shareholders but also to add value to the society at large. Industry leaders would do well to build this gospel of doing business into their corporate work culture.”
He also said that the growing importance of MSME sector in industrialization and employment generation is clearly visible in Karnataka.
Karnataka is home to over 1,000 large and medium manufacturing industries in sectors like machine tool, steel, cement, automobile, and aerospace.
Nearly 60 percent of biotech units in India are also located here. It has about 1,200 companies in information technology (IT) sector. It is a leader in IT and IT enabled-services sector that accounts for more than 40 percent of India’s software exports.
“Bengaluru is rightly dubbed the Silicon Valley of India. These industrial enterprises apart, Karnataka’s 600 textile units and a large agro-based industry provide substantial employment opportunities to the youth,” the President said.
Karnataka has a supportive eco-system that has transformed it into a prominent hub in the global industrial landscape. Its entrepreneurial spirit in innovation and R&D has been recognized the world over, he said.
Its rich natural resources, proactive policies, talented workforce and strong economy have propelled the state to become a preferred investment destination in diverse sectors like aerospace, automobiles and auto-components, IT, bio-technology, food processing and healthcare. More than eighty Fortune 500 companies and 700 multi-nationals are based here, Mukherjee noted. (KNN Bureau)
He was addressing at the inauguration of the Centenary Celebrations of the Federation of Karnataka Chambers of Commerce and Industry (FKCCI) on Monday.
Mukherjee said, “Businesses are meant not only to earn profits for their shareholders but also to add value to the society at large. Industry leaders would do well to build this gospel of doing business into their corporate work culture.”
He also said that the growing importance of MSME sector in industrialization and employment generation is clearly visible in Karnataka.
Karnataka is home to over 1,000 large and medium manufacturing industries in sectors like machine tool, steel, cement, automobile, and aerospace.
Nearly 60 percent of biotech units in India are also located here. It has about 1,200 companies in information technology (IT) sector. It is a leader in IT and IT enabled-services sector that accounts for more than 40 percent of India’s software exports.
“Bengaluru is rightly dubbed the Silicon Valley of India. These industrial enterprises apart, Karnataka’s 600 textile units and a large agro-based industry provide substantial employment opportunities to the youth,” the President said.
Karnataka has a supportive eco-system that has transformed it into a prominent hub in the global industrial landscape. Its entrepreneurial spirit in innovation and R&D has been recognized the world over, he said.
Its rich natural resources, proactive policies, talented workforce and strong economy have propelled the state to become a preferred investment destination in diverse sectors like aerospace, automobiles and auto-components, IT, bio-technology, food processing and healthcare. More than eighty Fortune 500 companies and 700 multi-nationals are based here, Mukherjee noted. (KNN Bureau)
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