Satyam's Raju is Ernst

New Delhi, Nov 21 (UNI) B Ramalinga Raju, chairman and founder of Hyderabad-based Satyam Computer Services, bagged the prestigious Ernst and Young (E&Y) Entrepreneur of the Year Award 2007 while other prominent winners included Shiv Nadar, Ela Bhatt, Sajjan Jindal and Raghav Behl.

The glittering award ceremony which concluded here late lastnight felicitated Mr Raju as Entrepreneur of the Year 2007.

The E&Y award for business transformation went to Raghav Behl, Managing Director Network 18 while E&Y manager award was bagged by Shikha Sharma, ICICI Managing Director and Chief Executive Officer.

The award for infrastructure and construction went to Atul Punj, Chairman and Managing Director Punj Llyod. Award for services went to Shiv Nagar, Chairman and Chief Strategic Officer, HCL Technologies, while award for start-up went to Manoj Kumar Upadhyaya, founder Acme Telepower.

The award for health and lifesciences went to Cyrus Poonwaala, Chairman and Managing Director Serum Institution. For social entrepreneurship, the award was given to Ela Ramesh Bhatt, founder of Sewa while Sajjan Jindal, Chairman and Managing Director of JSW Steel won the award for manufacturing.

Lifetime achievment award went to Keshav Mahindra, Chairman Mahindra Group.

The award ceremony was kicked off by Vice-President Hamid Ansari who emphasised the need for broad basing entrepreneurship in India.

''Those from other underprevileged, minority and marginalised communities have been confronted with what could be called the glass ceiling of entrepreneurship and capitalism,'' Vice President said while addressing the Ernst and Young's Entrepreneur of the Year Award.

He said in the West, one has heard of the tremendous incubation and entrepreneuring impact of affiliations to premier Indian technical and management institutes such as IITs and IIMs.

''Unless social capital is based on such impersonal affiliations, lack of access to it would continue to hinder what I consider an absolute necessity - of broad basing entrepreneurship in India.

Indian business and industry must ponder on this if the current economic dynamism and entrepreneurial enthusiasm is to remain sustainable,'' Mr Ansari said.

Talking about entrepreneurship in agriculture, Dr Ansari said this sector has huge potential and will have a multiplier pay back effect on the society.

''I look forward to the day when one of the 'Entrepreneur of the Year' awards would be dedicated to agriculture,'' Dr Ansari said.

It is through the prism of good governance that innovation and entrepreneurship are rewarded and recognised for their ability to generate employment and help in the percolation of the wealth created, he said.

''We are currently in a sweet spot where macro-economic conditions in India, global factors, the current stage in the evolution of our industry and corporate and national governance have converged and led to the unprecedented growth and success of entrepreneurship in India in the past decade,'' Dr Ansari said.

Never before in our history have so many entrepreneurs in India become as successful and demonstrated such an extent of wealth creation as in the past decade.

''We are told that the aggregate net worth of the four richest Indians, all entrepreneurs, stands at 180 billion dollars, the net worth of India's 40 richest stands at 351 billion dollars, more than double their net worth last year. For perspective, this amount is roughly over a third of our GDP at current prices,'' he added.

Now in its ninth year, these awards recognise leaders and visionaries who demonstrate innovation, financial success, personal dedication and a commitment to the community as they create and build world-class businesses.

The winner will represent the country in the World Business Award which will be held in Monte Carlo, Monaco from May 29-June 1, 2008.

Past winners of the coveted award were Mukesh Ambani, Azim Premji, Sunil Bharti Mittal, Ekya Kapoor etc.

UNI