IPF Industrial Excellence Awards 2018 honours leading SMEs

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IPF Industrial Excellence Awards 2018 honours leading SMEs

IPF Industrial Excellence Awards 2018 honours leading SMEs

Industry News
Dec 18,18

Awards presented by Industrial Products Finder (IPF) magazine recognise people, processes and products from the SME sector that drive the industry forward to achieve success in a competitive market

IPF Industrial Excellence Awards 2018 honours leading SMEs

Mumbai, 17 December 2018

Industrial Products Finder (IPF), India’s largest circulated industrial magazine for last 47 years and published by ASAPP Info Global Group, hosted its 3rd IPF Industrial Excellence Awards on December 13, 2018 at NSE, Bandra-Kurla Complex, Mumbai, to honour some of the leading performers from Small and Medium Enterprises (SMEs). The grand award function was held in the presence of Chief Guest Ajit B Chavan, Secretary, Textile Committee, Ministry of Textiles; Harshbeena Zaveri, Vice Chairperson & MD, NRB Bearing Ltd; Bhavesh Thakkar, Associate Partner - Tax & Regulatory, Ernst & Young India; and Rachana Bhusari, VP - SME, National Stock Exchange (NSE).

The awards were presented to the fastest growing manufacturing companies and products that meet the standards of ‘Product Excellence’. The winners were selected by a jury panel comprising eminent personalities from the industry and engineering institute.

A white paper on “How MSMEs can enhance their credit worthiness” and an “All India Textile Directory (AITD)” were also unveiled during the function.

While ECGC Ltd (Formerly known as Export Credit Guarantee Corporation of India Ltd) was the Gold Partner for the event, Bohmen Industries was the Silver Partner.

Speaking on the occasion, Ajit B Chavan, Secretary, Textile Committee, Ministry of Textiles, said, “There are a lot of policies in place that can be availed by SMEs. However, due to lack knowledge, majority of SMEs are unable to take advantage of these policies. One of the challenges of government organisations is lack of touch points to interact with SMEs. Occasions like this (IPF Awards) offer an ideal platform for the policy makers and companies industry to interact and help create awareness about the government initiatives.”

Congratulating the winners, Guest of Honour, Harshbeena Zaveri, Vice Chairperson & MD, NRB Bearing Ltd, said, “The SME sector is the most vibrant sector in India that ensures regional balance because many of them are located in the rural areas. Industry and government need to come together to create an environment in which SMEs can succeed.”

Highlighting the significance of the awards, Pratap Padode, Founder & President, Foundation of Infrastructure Research Studies Training (FIRST), informed, “Inspite of many challenging circumstances, some SMEs perform exceedingly well in terms of profitability and revenue growth. Through IPF Industrial Excellence Awards, we are honouring such outliers and their achievements, and encourage them to raise their performance bar higher.”

While National Stock Exchange (NSE) was the Exchange Partner for this year’s IPF Industrial Excellence Awards. Rachana Bhusari, Vice President - SME, NSE, said, “It’s the need of the hour to recognise the work done by SMEs, who are the backbone of our economy. Entrepreneurs can list their firm on NSE, come up with an IPO, raise funds from the financial market, and grow much faster than what they have envisaged.”

In his Keynote Address, Bhavesh Thakkar, Associate Partner - Tax and Regulatory, Ernst and Young LLP, explained various types of fiscal incentives offered by the government and urged SMEs to get registered to avail the benefits of these incentives.

On the occasion, roundtable, titled “Winning Strategies for SMEs”, was also held that discussed challenges before the SME sector and strategies needed to be adopted by them to become competitive and emerge winner.