BWI: CSR and Growth must go Hand in Hand for Inclusive Growth: K D Singh, Chairman, Alchemist Group

Press release from Business Wire India
Source: Alchemist Group
Tuesday, April 05, 2011 05:02 PM IST (11:32 AM GMT)
Editors: General: Consumer interest, Social issues; Business: Business services, Healthcare, biotechnology & pharmaceutical; Healthcare
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CSR and Growth must go Hand in Hand for Inclusive Growth: K D Singh, Chairman, Alchemist Group


New Delhi, Delhi, India, Tuesday, April 05, 2011 -- (Business Wire India) -- Mr K D Singh, Rajya Sabha MP, and the man behind the 10000 crore Alchemist Group says that now the time has come for corporates to not only focus on just profits but do so with a much more bigger focus on corporate social responsibility.

Commenting on the renewed debate on Corporate Social Responsibility in the backdrop of the high profile visits of Warren Buffet and Bill & Melinda Gates Mr Singh said, "The corporate mantra should now be - growth with social responsibility. The strength of the Alchemist Group, as it heads into the next decade, is its sense of mixing business with social responsibility. From healthcare to construction, sponsorships to sports, there's a renewed sensitivity in all realms where Alchemist involves itself.'

Social responsibility was the impetus when Alchemist healthcare emerged. Alchemist Hospitals in Panchkula and Gurgaon started as cardiac super-specialty, but are now working towards expanding their scope given the nature and demand of healthcare facilities. The hospitals are also working on an expansion program to smaller cities that require specialty healthcare with secondary healthcare options. Over the next decade, targets for healthcare are 5,000 beds through a combination of Secondary Care and Specialty Hospitals, more individualised care at affordable prices, and greater accessibility, he added.

But Alchemist's social responsibility doesn't just end there. They also have the patent for RBI Grade 81, a soil stabilization material, as part of their endeavor towards assisting the country in precarious construction matter and green technology. This material was used in hastening road and flyover construction ahead of the commonwealth games, and is also in trials with the border road forces for creating high altitude roads and the airstrip in Ladakh. Since this material reduces the dependence on traditional road-building materials and methods, it paves the way by reducing the amount of fuel burnt and carbon-dioxide emitted.

Of late, Alchemist is extending its social responsibility to multiple other realms. The company recently sponsored an event which was a series of awards given to states for their performance.

The company's employees are also involved with teaching initiatives at some important Universities. The idea is to decrease the hiatus between academics and reality, and create a group of students who enter into various industries armed with the appropriate knowledge.

Sports can't be too far from any corporate, and it's close to Alchemist too. However, unlike others who have been busy investing in cricket and stars, Alchemist is promoting those which urgently require support, not necessarily financial. So far, polo and other equestrian sports have been a soft spot for Alchemist with Alchemist assisting in the Delhi Spring Polo Season and the Delhi Horse Show. Over the next 5 years, the company wishes to involve itself with young athletes yet to burst into the limelight, and academies that train and support such belief and athleticism. Assistance could be financial, but will largely be technical and promotional for some sports require such support and direction.

All these businesses and initiatives are not borne out of board-room meetings and discussion. But out of KD Singh's belief that there lies potential in combining industry, profit and social responsibility and that potential will have a long-term effect on people in this country.

K D Singh believes that in the journey towards bringing value to the shareholders and society through his business and his social activities, there could be hindrances but one should never be cowed down by difficulties.

In response to reports accusing the Alchemist Group Chairman and Rajya Sabja MP, KD Singh, of carrying unaccounted for cash to a state where polls are underway, Mr Singh said he would like to clarify that the amount, which was Rs 50.7 lacs, was being carried by his company officials for work purposes. Since Mr Singh was also on that plane with his officials and some others, their travel was held up for a few hours. However, the money was not being carried by Mr Singh, and he was not detained for any sort of questioning by authorities. Alchemist group, which presently owns tea estates in the north-east, was in negotiations for a fresh purchase in that region and that money was being carried to pay up a token sum upfront, incase the acquisition came through.

"I am aware that Assam is in the midst of polls, but that has no connection to my company officials carrying cash. Just because they were travelling with me doesn't make me an accused. There's nothing in this incident, and its just being exaggerated by my political opponents. I am relatively new to politics and therefore, being victimized by those with vested interests. he clarified.

Whatever my political or other opponents say, I will continue to create value for my shareholders and for the society that has given me so much, he says.

About Alchemist Group

Founded in 1981 by Kanwar Deep Singh, the Alchemist Group of Companies is a diversified conglomerate with business interests in Healthcare (Hospitals & Pharmaceuticals), Hospitality (both Restaurants & Hotels), Food Processing (Poultry), Infrastructure and Real Estate. To our credit is also RBI Grade 81 - a soil stabilization material which has played a crucial role in creating airstrips in Ladakh, and in accelerating Border Road projects across India. Headquartered in New Delhi, Alchemist is now among the country's top emerging companies and is slowly working towards a pan-India presence. Hospitality is most special among Alchemist's business interests where success is not measured in financial figures, but purely in terms of customer satisfaction. Presently, Alchemist has 7 successfully running restaurants - The Second Sin, Spicewater Trail, Kebab Khan, Zazen, Café Amor, Kink, and a 'Republic of Chicken' chain across NCR, Punjab and Haryana.


CONTACT DETAILS
Ajay Khudania, Kautilya Media Networks, +91 9810269676, ajay.khudania@kautilyamedia.com

KEYWORDS
CONSUMER, SOCIAL, BUSINESS SERVICES, HEALTHCARE, HEALTHCARE

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