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SONIA GANDHI CALLS FOR CIVIL SOCIETY PARTNERSHIPS SKS Microfinance CEO Vikram Akula is India’s Social Entrepreneur of the Year New Delhi, India, 27 November 2006 – Business, civil society and government should collaborate more for India’s social development, Sonia Gandhi, Chairperson, United Progressive Alliance, and President, Indian National Congress, told participants at the World Economic Forum’s India Economic Summit. "The economic growth we are experiencing must not be at the cost of social awareness and social responsibility," she said. Noting that political participation in India is increasing at the grassroots level, particularly among women, she also observed that Indian civil society is active and vibrant. "We talk about public-private partnerships; but why not public-civil society alliances in the area of social infrastructure?" While recognizing the "outstanding contribution" of corporations to social development, Gandhi argued that "there is a need for a more meaningful commitment which can and will make a real difference." Responding to Gandhi’s address, R. Seshasayee, Managing Director, Ashok Leyland, and President of the Confederation of Indian Industry (CII), pledged that "the private sector will play its role in the transformation of this country." Gandhi, who was a special guest of the World Economic Forum on the second day of the Summit, presented the 2006 India Social Entrepreneur of the Year award to Vikram Akula, Founder and CEO of SKS Microfinance Private Limited, on behalf of the Schwab Foundation for Social Entrepreneurship. Based in Hyderabad, Andhra Pradesh, SKS Microfinance applies global business practices to the field of microfinance. The company has been hailed as the ‘Starbucks of Microfinance’ for adopting global best practices, standardizing microfinance processes and using technology to accelerate growth. SKS’s lending has been growing by 300% a year, with total loans now over US$ 71.6 million, benefiting approximately 1.5 million individuals. Said Akula after receiving his award: "This is a great affirmation for the microfinance movement. It is a great affirmation of social entrepreneurship. This is not just an award for SKS Microfinance; it is an award for the poor and an acknowledgement of their entrepreneurial spirit." Klaus Schwab, Founder and Executive Chairman of the World Economic Forum, explained that one of the main objectives of honouring social entrepreneurs is "to disseminate the notion of entrepreneurship for sutainable development." Social entrepreneurship is "a blending of Mother Teresa and Bill Gates," Schwab said. "Instead of seeking to accumulate shareholders’ returns, social entrepreneurs see financial returns as a means to transform and serve society." Earlier, speaking to participants on the Summit theme of "Meeting India’s New Expectations", Gandhi noted that even as India has modernized and achieved success in the global economy, "we still face some formidable challenges." These include "age-old problems" such as the lack of primary healthcare and nutrition, as well as new concerns such as HIV/AIDS and terrorism. "There are many Indias," Gandhi remarked. "There is the India of bustling growth and the India of widespread want. There is the India of self-confidence and an India burdened by unequal history and unequal opportunity." Organized in partnership with the CII, the World Economic Forum’s India Economic Summit brings together more than 600 business, political and civil society leaders from over 30 countries. For more information about the India Economic Summit 2006, please visit:
The World Economic Forum is an independent international organization committed to improving the state of the world by engaging leaders in partnerships to shape global, regional and industry agendas.Incorporated as a foundation in 1971, and based in Geneva, Switzerland, the World Economic Forum is impartial and not-for-profit; it is tied to no political, partisan or national interests. (http://www.weforum.org/) If you do not want to receive further information about the World Economic Forum, click here. |
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