IndUS Bunisness Journal’s “India Investment Summit & Awards 2006” was held at Boston Newton Marriott on Thursday April 27th, 2006.  National awards of excellence were presented in 12 categories.  Steve Sanghi, Chairman and CEO, Microchip Technology was awarded ‘2006 Business Person of the Year’.

The India Summit provided insights and current state of opportunities and challenges in India’s growing market sectors including finance services and venture capital, franchise, biotech, technology, etc. The Summit provided an opportunity to exchange ideas and network with top entrepreneurs, business leaders and great thinkers.  Holly Vineyard, Deputy Assistant Secretary for South Africa, the Middle East, and South Africa in the international Market Access and Compliance Unit; Paresh Patel, CEO, Sandstone Capital LLC, USA Reena Batra, Founder and CEO, SPI Inc; Oscar Jazdowski; Senior Relationship Manager, SVB Global and Ameek Ashok Panda  provided insight on opportunities in India.

V.S Seshadri, Minister, Commerce, Embassy of India was the keynote speaker. “Indian economy is doing well and the state of Indo-US relationships is doing well,” said Seshadri.  The Indian economy grew at 8.1% and believes there are reasons to believe in sustenance.  Policies made by the government, the contributions made by private sector and the rising confidence are reasons for  sustained growth.  Agriculture contributes to 20% of GDP, Manufacturing contributes 26% of GDP and the rest is contributed by services.  He said there is growth in all three sectors.

Excellence Awards were presented in 12 categories and ‘2006 Business Person of the year’ was awarded to Steve Sanghi of Microchip Technology Inc.  Sanghi rebuilt the struggling company trough his Aggregate System.  Using the ‘Aggregate System’ along with Michael Jonas, company’s human resources head, they were able to align, integrate and unite the company and improve the employ performance.

Best Business Idea Award was presented to Subhendu Guha, President and CEO, United Solar Ovonic. Guha discovered a new method of obtaining high-quality amorphous silicon alloy, the material in low cost silicon panels. Considering the growth in worlds solar panel market by 50% between 2004 and 2005, Guha’s discovery which uses amorphous silicon rather than more expensive and thicker crystalline silicon has promising market.

Ram Sasisekharan, Cofounder, Momenta Pharamaceuticals and Professor of MIT was awarded in Biotechnology section. Mahesh Sharma, President of Cambridge College was awarded for his contributions in Education.

Sushil Tuli, founder, president and chairman,Leader Bank was awarded for Financial Services. Falgun Dharia, founder, Mantiff Management Inc. for Franchisee; Mail Boxes Etc. Inc for Franchisor.  Aha Agarwal, Director of medical informatics, Kings County Hospital Center for Health Care and Medicine and Mohan and Manoj Bhoola of Elite Hospitality for Hospitality.  Citigroup was awarded for Indo-US Trade and Investment and Navneet Chugh, Managing Partner, The Chugh Firm, for legal services. AAPI was awarded  in Professional Oraganizations category; Shri Thanedar. CEO Chemir Analytical Services for Technology and Vab Goel, Partner, Norwest Venture Partners for Venture Capital.

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