India Responsible Competitiveness Awards to Identify India's Most Responsible Companies
Gurgaon, 2 December 2010
A leading initiative to recognize and reward India's top performing companies in the area of corporate responsibility, the India Responsible Competitiveness Awards, was launched today at the 13th Annual TCI Global Conference, in Gurgaon, Delhi NCR.
The India Responsible Competitiveness Awards aims to increase awareness of corporate responsibility and promote the practical application of responsible strategies that benefit employees, society, the environment, as well as bottom line financial results.
The Awards will be conducted in partnership by AccountAbility, the global research, standards and services organization, and the Institute for Competitiveness, an Indian-based international think tank. Sunil A. Misser, CEO of AccountAbility, commented: "AccountAbility is excited to be bringing our renowned Responsible Competitiveness approach to India. Responsible Competitiveness is about rewarding companies that address social, environmental, economic and governance issues in a holistic manner. It is about nations prospering when they combine conscience with competitiveness. It is about greater transparency, more accountability, better governance and inspired leadership."
Dr. Amit Kapoor, Director of the Institute for Competitiveness, added: "From a purely regulatory standpoint, India compares favourably with most other developing and Asian economies as far as its corporate governance rules are concerned. However, a more focused move towards good governance and sustainability can provide the required boost to India's growth story. Sustainability has multiple facets: corporate governance, long term business growth with reasonable profits, balanced with the well-being of employees and other key stakeholders. These Awards will showcase those companies who are best able to demonstrate how being good links to sound business performance –- it is actually a competitiveness strategy."
The Responsible Competitiveness (TM) methodology requires companies to complete an initial self-assessment framework across seven drivers of responsible competitiveness. Short-listed companies are then interviewed, and the final winners are selected after a rigorous analytical process.
Information on how to participate in the Awards will be announced next month in the Indian national media and on the partnering organisations' websites. The initiative will be supported by corporate sponsorship and participation fees.