Date:03/08/2008 URL: http://www.thehindu.com/2008/08/03/stories/2008080352640300.htm

Andhra Pradesh - Vijayawada

‘Social welfare, business should go together’

Staff Reporter

Shanta Biotech founder delivers JRD Tata memorial lecture

Profit is must, but how it is spent is important
JRD Tata lauded for his contributions

VIJAYAWADA: Founder and managing director of Shanta Biotechnics Ltd. K.I. Varaprasada Reddy has said that ‘social entrepreneurism’ should be given a prime place in any effort or endeavour relating to the industry, so that the results could reach a larger section of society.

Delivering the JRD Tata memorial lecture organised by the JRD Tata Industrial Estate Association here on Saturday, Dr. Reddy said that unless social welfare and business went together, the growth and profits would not serve their purpose for all people involved in the process.

“Profit is a must, but at the same time how that should be spent and in what form is very important,” he observed.

Dr. Reddy said that he took some risk to set up Shanta Biotech for producing vaccines and provide them to the people at an affordable price, as he saw a social need in that as well as a big scope.

Passion

He recalled that he entered the biotechnology industry out of sheer passion and determination to show that India would be able to produce vaccines on its own without going to any other country with a “begging bowl.”

Praising the organisers for celebrating JRD Tata’s 104th birth anniversary in a fitting manner,

Dr. Reddy said that it was because of industrialists like Tata that India got international recognition and also found a place for itself in the world’s industrial map.

He said that the country’s financial and economic strength gained stability because of great industrialists’ contribution, and no crisis was able to unnerve it so far.

Speaking as a guest of honour, Laila group of companies chairman Gokaraju Gangaraju said that Dr. Varaprasda Reddy brought laurels for Andhra Pradesh and the country with his pioneering work and excellence in the field of biotechnology.