The Hindu : Business : Leadership Award for Mittal

Online edition of India's National Newspaper
Friday, Dec 08, 2006
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Leadership Award for Mittal

Asia Society also chooses Citigroup CEO for the honour

NEW YORK: NRI steel tycoon Lakshmi N Mittal has expressed confidence that the fast-growing economies of India and China would have a positive impact on the world economy, but cautioned the two south Asian giants of social problems arising out of widening income disparities.

Mr. Mittal was speaking at the 50th anniversary dinner of the Asia Society here on Wednesday that honoured him with its `Leadership Award' for business acumen, entrepreneurship and tenacity, especially witnessed during his takeover bid of Arcelor.

"Indians can be rightly proud of the epic, blockbuster and historic deal that he (Mr. Mittal) managed despite odds. It was the result of Mittal's vision, capability and tenacity that the Arelor deal went through,'' Managing Director of Goldman Sachs Henry Cornell, who presented the award to Mr. Mittal, said. The Asia Society also honoured Chairman and CEO of Citigroup Charles O. Prince with the Leadership Award for his contribution to the financial sector.

Mr. Mittal said the four years of high, sustained economic growth of India had given rise to the expectation that the "growth has come to stay'' as had happened in case of Japan and China. — PTI

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