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Tata group gets top conglomerate award

The award was presented to group Chairman Ratan Tata by USIBC President Ron Summers at the 31st Anniversary Leadership Summit.

india Updated: Jun 24, 2006 15:25 IST

In yet another feather to its cap, the Tata Group has been awarded 'India's Most Respected Multinational Business Conglomerate' by United States-India Business Council (USIBC).

The award was presented to group Chairman Ratan Tata by USIBC President Ron Summers at the 31st Anniversary Leadership Summit held at Washington DC.

Speaking on the occasion, Ratan Tata said the success of Tata Group was due to the legacy and value system left behind by his predecessors and that has driven the organisation.

He said that 65 per cent of the company's profits were spent on charitable causes like health care, education, rural development and treatment of water in rural areas.

He attributed the growing trade relations between the US and India to the prevalence of "political will" in the leadership of both the countries.

The coming together of India and the US and in the warm chemistry between President Bush and Prime Minister Manmohan Singh is reflected in the landmark India-US civilian nuclear agreement "which has taken away decades of distance between the two nations," he added.

He also expressed hope that the US Congress would endorse the nuke deal which would help India meet its energy needs.