Reliance Industries Limited’s Hazira Manufacturing Division has been adjudged winner of “Golden Peacock Award for Innovation 2008” (GPAI-2008). The award was presented to RIL at 9th International Conference on Corporate Governance held at London by Baroness Shreela Flather, Member House of Lords.
GPAI-2008 is given to organizations that have set high standards in Innovation and is also viewed in corporate circle as a self-assessment tool aimed to accelerate organisation’s improvement processes.
After critical scrutiny for final selection through a 3-tier assessment process for the GPAI-2008 by the Golden Peacock Awards Jury, under the chairmanship of Justice P.N. Bhagwati former Chief Justice of India and Member UN Human Rights Commission, RIL’s Hazira Manufacturing Division was adjudged as the winner of GPAI-2008.
Commenting on receiving the award, Shri H. S. Kohli, Executive Director, RIL, said, “Reliance winning the Golden Peacock Award for Innovation 2008 is a major step towards institutionalising the innovation processes at Hazira Manufacturing Division, which is in-line with the corporate innovation agenda.”
Reliance Industries Limited
Reliance Industries Limited (RIL) is India’s largest private sector company on all major financial parameters with a turnover of Rs. 1,39,269 crore (US$ 34.71 billion), cash profit of Rs. 25,205 crore (US$ 6.3 billion), net profit (excluding exceptional income) of Rs. 15,261 crore (US$ 3.8 billion) and net worth of Rs. 81,449 crore (US$ 20.3 billion) as of March 31, 2008.
RIL is the first private sector company from India to feature in the Fortune Global 500 list of 'World's Largest Corporations' and ranks 103rd amongst the world's Top 200 companies in terms of profits. RIL is amongst the 30 fastest climbers ranked by Fortune. RIL features in the Forbes Global list of the world's 400 best big companies and in the FT Global 500 list of the world's largest companies. RIL ranks amongst the 'Worlds 25 Most Innovative Companies' as per a list compiled by the US financial publication-Business Week in collaboration with the Boston Consulting Group.