Kathmandu, November 10

President of Chaudhary Group, Binod K Chaudhary has been awarded with the Growth, Innovation and Leadership (GIL) Award 2016 by Frost & Sullivan, here on Wednesday.

“A robust and healthy private sector is needed for the development of a country,” Chaudhary has been quoted as saying while receiving the award according to a media release. “I consider this award to be in recognition of my efforts for the promotion of the business sector in Nepal that is both my homeland and business base.”

While committing to promote Nepal’s economic development in his role as a private sector representative, Chaudhary said he was willing to take on ‘any role or capacity if there is a need to contribute in best possible ways toward Nepal’s development’.

Frost & Sullivan has mentioned that Chaudhary was awarded in recognition of his determination, dedication and leadership in business. The organisation has commended Chaudhary for his contributions in the promotion of private sector, education, health, youth empowerment and employment generation.

Speaking at the Frost & Sullivan GIL Summit earlier on Wednesday, Chaudhary had announced his plans of expanding the most popular brand of Chaudhary Group — Wai Wai — globally with a target of occupying at least five per cent share of the global noodles market by 2020. Current global noodles market share of Wai Wai is 2.5 per cent. It is consumed in 30 countries worldwide.

“Wai Wai is no more a brand of Chaudhary Group alone. It has become a pride of Nepal,” said Chaudhary, as per the release.

Chaudhary said that businesses today should move ahead by realising and quickly adopting the changes in technology. He said businesses may become obsolete and lose significance in no time if they fail to keep pace with the rapid technological advances.

Frost & Sullivan is a consulting firm that provides market research and analysis, growth strategy consulting, and corporate training services across multiple industries.