Biocon chief Kiran Mazumdar-Shaw receives Kiel Institute's '2014 Global Economy Prize'

BANGALORE: Biotech major Biocon today said its Chairperson and Managing Director Kiran Mazumdar-Shaw has been awarded the Kiel Institute's most coveted ' 2014 Global Economy Prize' for Business.

She was honoured at the institute's 100th anniversary celebrations at Kiel in Germany.

The 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, Biocon said in a statement.

The Kiel Institute for the World Economy is an international centre for research in global economic affairs, economic policy consulting and economic education.

Biocon said the 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; Business: Kiran Mazumdar-Shaw.

Noting that Mazumdar-Shaw is the first Indian woman and the fourth Indian to be conferred this prize, the release said previous honorees include Amartya Sen, Nobel laureate in Economics (2007); Baba N Kalyani, Chairman of Kalyani Group (2009); and Sunil Bharti Mittal, Chairman of Bharti Group (2009).

Accepting the award yesterday, 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'."