Biocon's chief kiran shaw bats for inclusive growth

Innovative ideas are needed to help the country gain crucial competitive edge across a spectrum of areas, from scientific and business to economic and social development, she said. Without

inclusive growth, the great Indian growth story can only have the privileged few living happily ever after, noted woman entrepreneur and chairman and managing director of Biocon Group, Kiran

Majumdar Shaw, said. "Even as we promise a wealth of immense potential, many of our people are unable to access basic services like education and health. Without the eradication of

these problems, inclusive economic and social progress remains elusive," Mazumdar observed while addressing the 48th convocation ceremony of the prestigious IIT-Mumbai in Mumbai today.

Innovative ideas are needed to help the country gain crucial competitive edge across a spectrum of areas, from scientific and business to economic and social development, she said. "We

require innovation in thought, practice, policy, strategy and technology to help us leverage our intellectual capital," she added. According to her, innovation needs to be rooted in

affordability or it will never empower the very people who most need its benefits. In all 1,691 degrees are being awarded in two sessions of the ceremony with one held today and second

session is scheduled for Sunday. Today, a total of 883 degrees were awarded in various categories, including 179 in PhD category, 510 in MTech, 83 in Masters of Management, 98 in Masters of

Design and 14 MPhil. Presently, about 5,400 students are pursuing their studies in IIT Mumbai and it's strength will be increased to accommodate 8,800 students by 2014.