BHEL bags 7 awards while LG electronics wins the first award in Private Manufacturing (Large) Category-Shri Salman Khurshid, Minister of Corporate Affairs, here today presented the 7th National Award for Excellence in Cost Management- 2009. BHEL bagged 7 awards in different Categories while LG Electronics won the First Award in Private Manufacturing (Large) category. Shri R. Bandyopadhyay, Secretary, Ministry of Corporate Affairs also graced the occasion as Guest of Honour.
Shri Khurshid congratulated the Institute of Cost and Works Accountants of India (ICWAI) for its continuous voyage towards recognition of Excellence in Cost Management for adoption of Cost Management tools and techniques by industries in corporate sector. He said that the Good Corporate Governance go hand in hand with the Good Cost Management practices and wished the corporate sector would adopt time-tested Cost Management techniques to their benefit towards good Corporate Governance in the interest of the stakeholders. Shri Khurshid said that the participation of Indian Industry in ICWAI National Award for Excellence in Cost Management indicates positive efforts by the industry towards cost management.
Shri Bandyopadhyay congratulated all the Awardees for adopting such Cost Management tools and techniques that have brought them Recognition of Excellence in Cost Management. He said that it is an example for other industries and the corporate sector should adopt cost management and cost accountancy practices towards Good Corporate Governance and Corporate Social Responsibility.