Indian Oil Corporation Ltd., the 88th ranked ‘Fortune Global 500’ company, has won the prestigious BML Munjal Award for ‘Business Excellence through Learning and Development’ for 2014 for having consistently used training, learning and development as a source of competitive advantage. The company was adjudged the winner of this coveted Award in the Public Sector category at a glittering ceremony held in New Delhi. The company won this Award for the first time in 2009.
Mr. R.S. Butola, Chairman, accepted the Award on behalf of the IndianOil family in the presence of Mr. B. Ashok, Chairman-designate and ED I/c (Retail Sales), Mr. D. Sen, Director (P&BD) designate and ED I/c (Lubes) from Marketing HO, Mr. Satish Kumar, Advisor (HR), Mr. Biswajit Roy, ED (HRD), CO, Mr. S. Mukherjee, ED (CC), CO, and Mr. BK Ray, GM, IiPM.
Speaking on the occasion, Mr. Butola pointed out that during the last two decades the Corporation’s refining capacity increased by over 100 per cent, marketing volume by over 100 per cent and pipelines capacity by over 200 per cent. The sustained increase in manpower productivity was attributable primarily to the learning & development initiatives taken by the Corporation, apart from factors like improvement in refining technologies and large-scale automation.
The company has mastered the art that enabled it to do more with less. Technologists do not learn on their own, nor does automation operate by itself. It is the human resources which assimilate the use of technology and automation to improve productivity, he added.
The prestigious Awards are named after the Hero Group Chairman and Padma Bhushan Awardee, Dr. Brijmohan Lal Munjal, who has built a business conglomerate worth billions of dollars from scratch.