Biocon’s chairperson and managing director Kiran Mazumdar-Shaw has been awarded the Kiel Institute’s most coveted ‘2014 Global Economy Prize’ for Business during the 100th anniversary celebrations of the Institute held in Kiel, Germany.
The Kiel Institute for the World Economy is an international center for research in global economic affairs, economic policy consulting and economic education. This prestigious award, established in 2005 by the Kiel Institute, is bestowed upon individuals who have been pioneers in finding solutions to global economic problems by strongly influencing and implementing economic or trade systems based on individual initiative and responsibility.
This annual prize is awarded to three individuals: A high ranking policy maker, a renowned economist and an outstanding entrepreneur. This year’s winners are for Politics went to President of Liberia Madam Ellen Johnson-Sirleaf. In the category of Economic Sciences it was Prof Richard H. Thaler, the University of Chicago. Under Business: Ms Shaw won the award.
Ms Mazumdar-Shaw is the first Indian woman and the fourth Indian to be conferred this prize. Previous honorees include Amartya Sen, Nobel laureate in Economics (2007); Baba N. Kalyani, Chairman of the Kalyani Group (2009); and Sunil Bharti Mittal, chairman of the Bharti Group (2009).
Accepting the award from Prof. Dennis Snower, President, Kiel Institute for the World Economy, Ms Mazumdar-Shaw, CMD, Biocon, said, that she was to receive this prestigious award and considered it as a great privilege to be in the company of great economists, world leaders and entrepreneurs.
With this award, the Biocon chief joins an elite list that includes Gro Harlem Brundtland, Norway’s former Prime Minister; Mary Robinson, former President of Ireland; Joseph E. Stiglitz, Nobel laureate in Economics; Paul R. Krugman, Nobel laureate in Economics; Pascal Lamy, former Director General of the World Trade Organisation; Jean-Claude Trichet, former President of the European Central Bank; and Dietmar Hopp, Founder of SAP.