Jamshedpur: XLRI School of Business and Human Resources on Wednesday conferred the Sir Jehangir Ghandy Medal for Social and Industrial Peace to N R Narayana Murthy, Chairman Emeritus and Chief Mentor of Infosys Technologies.

"Sustained growth requires a company to have a strong value system and the value system of a company builds its character and ensures longevity," Murthy said after receiving the medal at the 56th Convocation of XLRI here.

To operate in a globalised world, Indian companies have to learn to leverage the power of multi-cultural teams operating seamlessly across nations and bringing in diverse proficiency, he said.

He also emphasised that the country needed more of management than administration because management in due course leads to growth.

Expressing his gratitude to the XLRI for conferring him the medal, Murthy said: "I am delighted to receive this prestigious award from a highly reputed and the oldest management institute of the country".

The award was instituted by XLRI in 1966 in memory of Tata Steel's first General Manager Sir Jehangir Ghandy.

In his presidential address, Tata Steel Managing Director H M Nerurkar said India's growth story is just unfolding with sustainable and inclusive growth.

Nerurkar is the Chairman of XLRI Board of Governors.

At the convocation, 235 students of post-graduate programmes in Management, three students of fellow programme in Management from Jamshedpur campus and 19 students from Ex-PGP course from Dubai campus received their graduating certificates.