USIBC honours Y C Deveshwar with its Global Leadership Award
June 04, 2010
The U.S.-India Business Council (USIBC) of the US
Chamber of Commerce presented its Award for Global
Leadership to Mr Y C Deveshwar, citing his
exemplary commitment to empowering India's rural
agricultural community as well as the measures he
has led to conserve natural resources and protect
the environment. Over 400 senior business and
government leaders from the United States and
India assembled on the eve of the U.S.-India
strategic dialogue to attend USIBC's 35th
Anniversary Summit, "A Pivotal Period in
U.S.-India Relations: Tackling Education,
Infrastructure & Inclusive Growth", and lauded Mr.
Deveshwar for the responsible corporate conduct
that he has demonstrated during his stewardship of
one of India's largest conglomerates. The Summit
was attended amongst others by Mr S M Krishna,
Union Minister for External Affairs, Mr Kapil
Sibal, Union Minister for Human Resource
Development, Ms Meera Shankar, Indian Ambassador
to the United States and Ms Indra K Nooyi,
Chairman and CEO, Pepsico.
The Award was presented to Mr Deveshwar by Mr
Terry McGraw, Chairman of the US-India Business
Council and Mr Jothi Purushotaman, United
Technologies Corporation. USIBC feted Mr Deveshwar
for his exemplary leadership in demonstrating that
business can make a huge difference to society
with innovative corporate strategies. The
sustainability initiatives of ITC, which he has
spearheaded, include farmer empowerment through
ITC's e-Choupal, large scale afforestation,
watershed development, women empowerment,
education of rural children and provision of
extensive animal husbandry services. Mr Deveshwar
has also led the company to be the only one of its
size in the world to be carbon positive, water
positive and waste recycling positive. Its
businesses create livelihoods for over 5 million
people, many of whom belong to the poorest of the
poor in India. ITC has registered a compound rate
of growth in Total Shareholder Returns of over 24% in last 15 years.
The award will establish a new learning library in
New Delhi in Y C Deveshwar's name through the
international literacy organization, Room to Read,
as well as provide in ITC's name three-years of
associated teacher training, books, and learning
materials.
The Global Leadership Award, presented to Y C
Deveshwar on the occasion USIBC's 35th
Anniversary, marks the commitment of the
U.S.-India Business Council and its
member-companies to protecting the environment,
responsible corporate citizenship, and empowering
people through literacy, technology, and
information -- all hallmarks of ITC. The learning
library will be established by the end of 2010 in
honor of Y C Deveshwar's contribution to these
fields.
The U.S.-India Business Council, formed in 1975 at
the request of the Government of India and the
U.S. Government to advance commercial ties between
the world's two largest free-market democracies,
is hosted under the aegis of the U.S. Chamber of
Commerce. The U.S. Chamber of Commerce is the
world's largest business federation representing
more than 3 million businesses and organizations
of every size, sector, and region. The U.S.-India
Business Council celebrated its 35th Anniversary
on June 2, 2010 in Washington, D.C.
