Economic Times | 29 Nov 2009
Pallavee Dhaundiyal, ET Bureau
Bangalore based Karuturi Global Ltd has added another feather to its cap. Sai Ramakrishna Karuturi, managing director of Karuturi Global Ltd was conferred with yet another prestigious award for business excellence in agribusiness in Africa by Corporate Council on Africa, for the year 2009.
Karuturi received the award at the U.S - Africa Business Summit Gala Awards Dinner hosted at Walter E Washington Convention Centre, Washington D.C, recently.
The Corporate Council on Africa (CCA), established in 1993, is at the forefront of strengthening and facilitating the commercial relationship between the United States and the African continent. CCA works closely with governments, multilateral groups and business to improve the African continent's trade and investment climate, and to raise the profile of Africa in the US business community.
CCA programmes are designed to bring together potential business partners and raise Africa's investment profile in the US by developing critical contacts and business relationships and providing a forum for the exchange of information and ideas. Apart from receiving the award, Karuturi also addressed the plenary entitled 'Improving African Agricultural Value-Chain' . Other notable speakers at the plenary include former secretaries of agriculture Mike Johanns and Ed Shaferand. Other top executives like Jerry Steiner of Monsanto, Tony Isherwood of Dunavant and Martin Greenwood of Buchanan Renewable Energies also addressed the summit.
Over 2000 Key African and U.S Private sector and government representatives from agribusiness, power, finance, health, infrastructure and tourism from US and Africa took part in the event, which was aimed at promoting the Africa-US trade and investment interests and relations.
According to Karuturi, this award will boost the Indian business community's confidence in setting up large scale business interests in Africa and manifests the potential of the African markets for business growth and development for Indian entrepreneurs .The company Karuturi Global Ltd has ventured into the African continent by acquiring 7,65,000 acres of agriculture land for the cultivation of maize , paddy, sugar cane, palm oil and vegetables. Companies preparedness and strategy in foreseeing the severe food shortage that the world faces in the coming years with steady depletion of food grain stocks in world markets has prompted the company to enter the agribusiness in Africa. Karuturi Global also cultivates roses under green houses in 239 hectors of land in Kenya and Ethiopia, rendering the company as one of the largest private land bank owners in world.