Online edition of India's National Newspaper
Monday, Oct 15, 2007
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Online edition of India's National Newspaper Monday, Oct 15, 2007 ePaper |
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Tamil Nadu
RECOGNITION: C. Rangarajan, Chairman, Prime Minister’s Economic Advisory Council, honouring K. Raghavendra Rao, Managing Director, Orchid Chemicals, at a function organised by Savithri Foundation in Chennai on Sunday. CHENNAI: The Chairman of the Prime Minister’s Economic Advisory Council, C Rangarajan, on Sunday urged the new age entrepreneurs to convert scientific invention into something for use by the people at large. Addressing a function organised by the Savithri Foundation to felicitate Orchid Chemicals Managing Director K. Raghavendra Rao for his being conferred with the Degree of Doctor of Letters (honoris causa) by Sastra University, he said: “Scientists make inventions, while entrepreneurs make innovations. The inventions have to be converted into something by the entrepreneurs to be used by people at large through risk-taking.” Dr. Rangarajan said two lessons could be learnt from the new age entrepreneurs. “If you have the commitment and dedication, you can get things done. Dr. Rao has demonstrated this over the last 15 years and has built an enterprise of great business. This also vindicates the liberalisation policy that we had concluded in 1992-93.” “The new environment has created opportunity for new people to come up and set up units…The emergence of people like Dr. Rao has shown that this is the atmosphere of new age. Though the old system had lots of restrictions, the new system did not take away the role of the state. It has redefined the roles in many ways,” he said. N. Ram, Editor-in-Chief, The Hindu, recalled the social origin of Dr. Rao and described him as the role mode for entrepreneurs in India. He said his rapport with Orchid Chemicals dated back to the inception of the company. On several people being conferred with the doctorates by various universities, he said: “Make the choice carefully. I am not for using the conferred honorary doctorate quoted just like titles like Padmashri and Padmabhushan on your visiting cards. Make a distinction between the Ph.D. and academic works.” Dr. Rao said he had two unfinished agendas: to make Orchid Chemicals a $1-billion company in the next four years from the present $300 million; and develop new molecules, sell them in the U.S. and bring them back to the country for being offered to fellow Indians in affordable costs. N. Rangachary, advisor to the Andhra Pradesh Finance Department. T.S. Narayanasami. spoke.
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