CNBC-TV18’s Emerging India initiative has been acknowledged by SMEs, the government of India as well as the Finance Minister as a benchmark initiative; one that aims to recognise and support the growth of SMEs in India.
Over the last two years, this initiative has gathered momentum and has seen extensive participation from SMEs across India from different sectors. In its first year, the Emerging India Awards saw more than 5000 small and medium sized enterprises participate by way of nominations.
The Emerging India Awards recognises the best sustainable value creators among Small and Medium Enterprises in the country. Indian SMEs having a net worth of a maximum of Rs 75 crore are eligible for entry to the awards. The Emerging India initiative has been powered by CRISIL, India’s premier credit rating agency.
Two new award categories have been instituted in addition to the existing ones in the Emerging India Awards 2005-06. These are Women Entrepreneur of the Year and the Most Promising ‘Small’ Enterprise of the Year. The Awards will be held in February-March 2006.
Commenting on this initiative, Haresh Chwala, CEO, CNBC TV18, said, “We believe that CNBC-TV18 has been able to contribute to the development of this important segment of the Economy. We are proud to partner ICICI Bank in this initiative and hope that they will continue to play a pivotal role in supporting the growth of the SME sector.”
D Thyagarajan, Director-SME Rating, CRISIL Ltd, said, “SMEs play a vital role in keeping cost levels in the economy low. CRISIL will do all it can to encourage a sector that is so critical for India's cost competitiveness.”
Speaking on the occasion, V Vaidyanathan, Head – Retail Business, ICICI Bank, said, “With the launch of the initiative last year, the awards are today reckoned as benchmark for excellence giving due recognition to SMEs.”