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Infosys bags Economist award for corporate leadership in Asia-Pacific

Fakir Chand in Bangalore

Infosys Technologies Ltd, the Bangalore-based global IT company, has won the Economist global corporate achievement award 2002 in the Asia-Pacific region.

The innovative award by the Economist intelligence unit recognises companies that have delivered outstanding performance in volatile economic conditions.

The Rs 2,600-crore (Rs 26-billion) Infosys won top honours in a competitive group of 10 finalists, for its excellent record of sustained profitability, innovation and corporate leadership.

Infosys was judged the winner based on the awards' criteria of performance, strategy, leadership, talent, innovation, impact and image, according to a company statement, issued in Bangalore on Friday.

An expert panel comprising of leading business thinkers and corporate leaders, including CEOs of Hindustan Lever, Schlumberger, and Tesco and former CEOs of Nestlé and SAS selected the winners.

Toyota, the Japanese global car manufacturer, won the second award.

Infosys' chairman and chief mentor N R Narayana Murthy, who received the award in Hong Kong on Tuesday, said the Economist award was a great honour for the company.

"We are delighted to be chosen by an august panel of experts to be amongst some of the world’s best corporations. It is a great leap forward for Infosys and the Indian IT industry," Murthy said.

According to Economist editorial director Daniel Franklin, Infosys has put India on the international business map.

"The global company's steadfast commitment to international standards of business practice has helped it expand market share worldwide. Its embrace of international corporate standards, quality control process, transparent corporate governance and intensive training and retention programmes have raised the bar of all Indian companies," Franklin acclaimed.

The Economist intelligence unit, is the world's leading provider of country intelligence, with over 500,000 customers in corporations, banks, universities and government institutions.

Through its global network of 500 analysts, the unit assesses and forecasts political, economic and business conditions in 195 countsries and analyses how companies are responding.

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