Kiran Mazumdar-Shaw receives award from Germany's Kiel Institute

The Germany-based Kiel Institute has awarded its ‘2014 Global Economy Prize’ for Business to Kiran Mazumdar-Shaw, Chairperson and Managing Director of Biocon Ltd, on the occasion of the 100^th anniversary celebrations of the institute held in Kiel, Germany.
 
The Kiel Institute for the World Economy is an international centre for research in global economic affairs, economic policy consulting and economic education. This 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 were Ellen Johnson-Sirleaf, President of Liberia (for Politics); Prof Richard H Thaler, the University of Chicago (for Economic Sciences) and Kiran Mazumdar-Shaw (for Business). 
 
Mazumdar-Shaw is the first Indian woman and the fourth Indian to be conferred this prize. Previous honourees include Amartya Sen, Nobel laureate in Economics (2007); Baba Kalyani, Chairman of the Kalyani Group (2009); and Sunil Mittal, Chairman of the Bharti Group (2009).
 
Kiran Mazumdar-Shaw said, “I am honoured to receive this prestigious award and consider it a great privilege to be in the company of great economists, world leaders and entrepreneurs. I thank the Kiel Institute for awarding me with ’The Global Economy Prize 2014’. ”
 
Mazumdar-Shaw pioneered biotechnology in India and started Biocon as a novel enzymes company, which has evolved into one of the leading biopharmaceutical enterprises in India committed to affordable innovation.
 
With this award, Mazumdar-Shaw joins an elite list that includes Gro Harlem Brundtland, Norway’s former Prime Minister; Mary Robinson, former President of Ireland; Joseph E Stiglitz, Nobel laureate in Economics; Paul R Krugman, Nobel laureate in Economics; Pascal Lamy, former Director General of the World Trade Organization; Jean-Claude Trichet, former President of the European Central Bank; and Dietmar Hopp, Founder of SAP.