CNBC-TV18, ICICI Bank and CRISIL, a credit rating agency, together with Tata Indicom Enterprise Business Unit, AFL and Intel announced the winners of the CNBC-TV18 'Emerging India Awards', an initiative to recognise the contribution of Small and Medium Enterprises (SMEs) towards the growth of the Indian economy.
Commenting on this initiative of encouraging SMEs across the country, Raghav Bahl, Managing Editor, CNBC-TV18, said, "Small and medium enterprises form the backbone and are the primary growth engine in most world economies and India is no exception. The government of India has taken various measures to improve the SME sector that is currently facing several challenges due to the growth of the knowledge-based economy, explosion of e-business, globalisation and demanding customers. With the expertise of CNBC-TV18, ICICI Bank and CRISIL, the 'Emerging India Awards' ceremony has successfully felicitated the efforts of the most deserving SMEs in each category thus bringing them into the limelight, while at the same time providing them with a platform catapult into the big league."
Speaking on the occasion, K V Kamath, MD & CEO, ICICI Bank, said, "The SME sector is a vital component of India's economic growth. With increasing liberalisation and easing of various restrictions, this sector is witnessing a new dawn. The vibrancy and enthusiasm in the sector, driven by India's entrepreneurial energy, has the potential to accelerate India's growth. It is this spirit of Emerging India that inspired us to institute these awards."
Transasia Bio Medicals Ltd. was awarded the 'Most Promising SME of the Year' among other contenders like Indo Schottle Auto Parts, Linc Pen & Plastic, Shreeji Jewellery, Educomp Datamatics, Ocean Sparkle, Dorf Ketal Chemicals (India), Kewal Kiran Group and Shankara Pipes India.
The CNBC-TV18 'Emerging India Awards' initiative, which began in December 2004, aims at recognizing the best sustainable Value Creators among SMEs in the country. Indian SMEs with a net worth of a maximum of Rs 50 crore, were eligible for entry to the CNBC-TV18 'Emerging India Awards'. The initiative received an overwhelming response from over 5000 SMEs, from all parts of the country and from nine different sectors.
CRISIL - India's premier credit rating agency has designed and executed the evaluation process for the CNBC-TV18 'Emerging India Awards'.
The first round of selection for the CNBC-TV18 'Emerging India Awards' involved a review of Financial Statements of the nominees by CRISIL. The evaluation was based on the performance of the company over the last four years to ensure consistency of performance.
During the second round of the screening, 25 short-listed entities in each category provided detailed information on issues like audited financial statements, verification from lead banker, any relevant references from industry associations/ key large clients, comprehensive write-up on business and future plans and strategies.
The second round of screening resulted in the shortlisting of 3 entities per category. Each of the 3 shortlisted entries made a final round of offsite presentations about their respective businesses to a jury of independent experts, comprising of Nabankur Gupta, Director, Raymond Ltd., Alok Saxena, Director, Elder Pharma, Piruz Khambatta, CEO, Rasna, Sandip Das, DMD, Hutchison, Trehan, Managing Director, Crompton Greaves, Ananda Mukherjee, CEO, ICICI One Source, Deepak Ghaisas, CEO, I-flex and Niranjan Hiranandani, Managing Director, Hiranandani Contructions. The jury selected the winners in each category after evaluating the SME's overall business, financial and management strengths and their ability for sustainable value creation for key stakeholders.