India must strive to make itself more competitive to create jobs: Jayant Sinha

India must lead in productivity and innovation for remaining 6 billion people on the planet, says minister of state for civil aviation Jayant Sinha

India must strive to make itself a more competitive place to create jobs, strengthen industry and expand its tax base, minister of state for civil aviation Jayant Sinha said on Friday.

“Just like the US, just like Silicon Valley is skewing technological innovation, like Boston is for medical technology—what India, what we have to do is, lead in terms of productivity and innovation for remaining 6 billion people on the planet,” Sinha said at an event to present the IFC (Institute for Competitiveness) Mint awards and Porter prizes at the National Competitiveness Forum.

Vistaar Finance won the IFC Mint award in the finance, banking and insurance category, while in healthcare, pharmaceuticals and social assistance, Narmada Jhabua Gramin Bank won the award.

Advanced Micro Devices won the award for information, telecom and data processing, while Ion Exchange Ltd won the prize in the category of electricity, gas, water and power.

For construction, real estate and steel, Godrej Properties Ltd won the IFC Mint award. Hero group firm Mybox Technologies won the award in the category of computers and electrical appliances; Essel Infrastructure was the winner in the utilities category.

The Porter Prize awards 2016 were presented by Shashank Surana, senior general manager, new product development of DS Group.

Manipal Global Education Services won the award for outstanding performance in the industry and recognizing the very basis of competition and creating new business models and exploiting change; Sealed Air-Porter Prize for creating distinctive value went to Times Network for outstanding performance in the industry and providing unique solutions to the customer and creating new market spaces, which was received by Naveen Chandra, head of international business, and chief executive M.K. Anand.

The prize for leveraging unique activities and strategies was won by Yes Bank, while the prize for exploiting trade-offs was won by Adani Wilmar Ltd.

The Porter Prize for creating shared value was won by two firms—Godrej Consumer Products Ltd (GCPL) and Abbott India—for their outstanding work in enabling social and economic progress.

Sunil Kataria, business head, India and Saarc at GCPL said, “Two things which we are very proud of—shared value and innovation—and what we have done in innovation has helped us create shared value.”

The Porter prize for value-based healthcare was presented to Operation Asha. For excellence in corporate governance, Mahindra Lifespace Developers Ltd was the winner. Intellecap-Aavishkaar Group won the Porter prize for enabling social progress and Mindtree was awarded the prize for smart connected products.

Published with Mint on October 3, 2016.

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