Deepak Parekh is the Outstanding Business Leader of 2008

Reliance Industries wins the Outstanding Company of the Year

CNBC-TV18's India Business Leader Awards 2008 presented by Accenture honour the best in Indian Business

Deepak Parekh, Chairman, HDFC was adjudged as theOutstanding Business Leader of 2008, Reliance Industries Ltd. was honoured as the Outstanding Company of the Year, Aamir Khan was felicitated as theEntertainment Business Leader, Uday Kotak was honoured with CNBC Asia's India Business Leader Of The Year Award and Kamalnath was honoured for his outstanding contribution to cause of Indian business at the CNBC-TV18 India Business Leader Awards presented by Accenture. The award ceremony saw the best in Indian Business come together to salute the finest in Corporate India. Held in Mumbai the awards were graced by the presence of Kamal Nath, Union Minister of Commerce and Industries, Ashok Chavan, Chief Minister, Maharashtra, Narendra Modi, Chief Minister, Gujarat among others who felicitated the winners.

The year 2008 has been a difficult year for business across the world. But it is in the trying times that the best minds show their brightest side. The year would be remembered as the one that exposed the flaws in corporate affairs but also highlighted the best business leaders who steered their companies through the most difficult times and situations. 

Speaking on the eve of the awards Mr. Narendra Modi said, "I hope that the new generation will take inspiration from the winners felicitated today" He also highlighted the fact that while wealth creation is important, inclusive growth is a must. Sharing his views on development he said, "Till now we have believed that the government or the corporates will develop the country. I believe that development should be a mass movement."

Speaking on Indian leadership, Mr. Kamal Nath said, "There has been a growing recognition about India's capabilities the world over."  "While the world was preaching the 'best' practices, we were following the 'next' practices. Now while Europe is under a sense of pessimism India, retains its vibrancy. Our leaders are to be credited for that." he added. But he cautioned that while India is not dependent on other economies, we are interconnected with them.

Mr Ashok Chavan said, "The attacks in Mumbai were a nightmare. We never imagined that this would be possible in Mumbai." He added that he does not regard investments into other states as a threat to Maharashtra but regards it as an investment into India. He further added that the investments in Maharashtra remain to be high and he hopes that they would continue.

Mr Raghav Bahl, MD Network 18 said, "2008 was an extraordinary year grappled with extraordinarily difficult situation. The fact that India is a safe economy should be celebrated. But if we get trapped in celebration the biggest lesson of 2008 will be lost. " He also announced that Forbes India Magazine will be launched by Network 18 soon.

The 4th CNBC-TV18 India Business Leader Awards, India's most definitive awards in business excellence, felicitated the visionaries who have set shining examples in business leadership over the years. The winners were judged by business leaders like Mr. Mukesh Ambani, Reliance Industries Ltd. (Chairperson, Jury), Mr. Kumar Mangalam Birla, Chairman, Aditya Birla Group, Mr. Deepak Parekh, Chairman, HDFC, Mr. R. Seshasayee, Managing Director, Ashok Leyland, Mr. Jagdish Khattar, CMD, Carnation Auto India Pvt. Ltd. and Mr. Raghav Bahl, MD, Network18.

Talking on the parameters on which the winners were selected, Mr. Ambani said, "A leader has to navigate the path and protect the interests of all the stakeholders in a consistent way so that they can deliver performance on an ongoing basis. Also Execution and accomplishments were the main considerations." According to Mr. Birla, track record is important. Long term viability and sustainability of the business model is also vital. Mr Parekh believes that individual contribution to the company is very important especially in troubled times like these.

Speaking about the awards, Mr. Ajay Chacko, Director, TV18, Business Media said, "India Business Leader Awards are an unparalleled tribute to the excellence in business in India. The awards have become in institution by itself and the winners epitomize strength, ingenuity, knowledge, foresight and who drive the growth of their businesses with vision and inspiration."

About CNBC-TV18:
CNBC-TV 18 is India's No.1 business medium and the undisputed leader in business news. And its leadership epitomizes the fact that India means business. It delivers quality and involved audiences that comprise a comprehensive viewership base greater than similar offerings in the business space across all media. The channel's benchmark coverage extends from corporate news, financial markets coverage, expert perspective on investing and management to industry verticals and beyond. CNBC-TV18 has been constantly innovating with new genres of programming that helps make business more relevant to different constituencies across the country. CNBC-TV18 is currently available in over 30 million households in India.