Mumbai: CNBC-TV18, India?s no. 1 English business news channel has yet again hosted the 7th edition of ?India Business Leader Awards 2012? (IBLA)-Asia?s most distinguished awards for Excellence in Leadership, presented by Omkar Realtors and Developers Pvt Ltd. The awards witnessed some of the brightest stars from India Inc. take centre stage in a glittering ceremony, which was presided over by the Honorable Finance Minister Shri Pranab Mukherjee at The Lalit, Connaught Place, New Delhi. The India Business Leader Awards are a continuation of the tradition set by CNBC?s Asia Business Leader Awards.

?India Business Leader Awards 2012? has been established to honor the individuals and organizations that have created new benchmarks for corporate excellence and have taken Indian Business to a new echelon of fame.

The winners of IBLA were selected through an extensive multi stage selection process, perfected over the years with an experience in over 12 countries. In the final stage, an eminent jury selected the leaders in different award categories. This year the Jury was chaired by Mr. Mukesh Ambani. Mr. KM Birla, Mr. Anand Mahindra, Ms. Chanda Kochhar and Mr. Deepak Parekh joined Mr. Ambani to draw up a stellar list of winners.

The awards witnessed luminaries from the Business fraternity like Ms. Chanda Kochhar, Managing Director, ICICI Bank; Mr. Kumar Mangalam Birla, Chairman, Aditya Birla Group; Mr. Deepak Parekh, Non-Executive Chairman, HDFC; Mr. B. Muthuraman, Vice Chairman, Tata Steel; Mayank Pareek, Executive Director, Maruti Suzuki; Renu karnad, Additional Director, HDFC; Ajai Chowdhry, Founder & Chairman - HCL Infosystems; Kris Gopalkrishnan, Co-Founder & Executive Co-Chairman, Infosys amongst others.

Speaking at the occasion, Honorable Finance Minister Shri Pranab Mukherjee said; ?I would like to congratulate CNBC TV 18 on an excellent programme, India Business Leader Awards 2012, a platform that recognizes the individuals and organization who have created new benchmarks for corporate excellence and have taken Indian Business to a new echelon of fame.?

Further adding to this, he stated that; ?The Indian economy cannot be fully insulated from global threats as the world economy particularly the Eurozone remains fragile; the growth rate could fall below seven per cent in the current financial year from 8.5 per cent a year ago. There are some clear signals of inflation moderating in the coming months. I am expecting (inflation) to be in the range of 6-7 per cent by end March, Our growth for 2011-12 may be around seven per cent. Despite the challengesbefore us, I am confident that we will improve our short term growth prospects in the coming months. The Indian currency has depreciated by over 16 per cent against US dollar in the current financial year.

In the year of extreme difficulty, success can only be achieved by hard work.?

Speaking about the awards, Mr. Udayan Mukherjee, Managing Editor, CNBC-TV18 said, ?IBLA was initiated 7 years ago to honor India?s most outstanding business leaders for their contribution to India Inc. Its success can be dictated by the fact that it has become a benchmark in achievement. This year we have continued this initiative to salute those captains of industry who have braved the turbulent international conditions and kept India?s flag flying high.?

Speaking on the occasion Mr. Babulal Varma, Managing Director, Omkar Realtors and Developers Pvt Ltd said, ?We salute the genius and valor of the Indian business fraternity and are proud to be associated with CNBC?s Indian Business Leader Awards, which commend and appreciate such pioneers.?