LONDON: Mumbai-based Jain Irrigation Systems that specialises in drip irrigation technology has won the FT (Financial Times) ArcelorMittal Environment Award for 2011 for its contribution to the agriculture sector in India.
Anil B Jain, Managing Director of the company received the award from Lakshmi Mital, Chairman and CEO, ArcelorMittal and Lionel Barber, Editor Financial Times at the FT Arcelor Mittal Boldness in Business Awards at Saatchi Gallery here last night.
"Jain was the first company to introduce drip irrigation technology to India in the 1980s. Since then it has greatly increased agricultural yields and this year the Government of India has increased subsidies for micro-irrigation to USD 221 million up 133 per cent from last year," the citation said.
Receiving the Award Anil Jain said "This award belongs to farmers of India who take so much risk against the vagories of nature."
With over 8,000 employees including 1,000 abroad, the company has achieved a turnover of 1 billion dollars this year.
"We have serviced over 25 lakh farmers in India, mostly in western and souther parts of the country and slowing its growing in northern parts as well, he said.
"The Award is a recognition of the work done by farmers. According to Jain, the company at present has 7 drip irrigation manufacturing plants and it is planning to add more such plants.
Drip irrigation systems, sprinkler irrigation systems, automation systems, valves, water filters, fertigation, equipment, green houses, plant tissue culture, nursery plants and systems, bio fertilisers are some of the manufacturing products of the company.
The company also has its operations in the USA, Europe and Brazil.
India's High Commissioner to the UK Nalin Suri, leading NRI businessman G P Hinduja, President of the Hinduja Group were among the dignitaries who attended the awards ceremony.
Allen Mulally, President and CEO of Ford was declared Person of the Year 2011 for turning around the Ford motors. The company earned a profit of USD 6.8 billion last year.
Groupon that offers daily 'money-off' deals activated if a required number of participants sign up won the best Newcomer prize, while Free, France's third-largest broadband provider won the award for entrepreneurship .
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