Kiran Mazumdar-Shaw, Chairperson and Managing Director of Biocon Ltd, Asia's leading bio-pharmaceutical company, 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 on Sunday, June 22.
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:
Politics: H.E. Madam Ellen Johnson-Sirleaf, President of Liberia
Economic Sciences: Prof Richard H. Thaler, the University of Chicago
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Business: Ms Kiran Mazumdar-Shaw, Chairperson and Managing Director, Biocon, India
Sigmar Gabriel, German Vice Chancellor and Minister for Economic affairs, delivered a keynote address at the ceremony, which was attended by distinguished personalities from politics, academia, business and civil society.
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).