February 2017 – Mr Palaniappan Muthusekkar, Managing Director, NORD Drivesystems Pvt Ltd, a leading company in Motion & Drive Technology and 100% subsidiary of Getriebebau Nord (GBN) of Germany, was honoured with the Udyog Rattan Award on February 24, 2017, at a ceremony in New Delhi.

The Udyog Rattan Award (translated as Jewel of the Industry Award) is conferred annually to Indian citizens, for their outstanding contribution to the economic development of the country. The award is conferred by the Institute of Economic Studies, India (IES), affiliated with the government of India and the selection is done by a panel of judges who are usually eminent citizens with economic backgrounds.

Mt Muthusekkar received the Udyog Rattan Award for outstanding performance in the field of industrial development of the country at the Economic Development Seminar organised by the Institute of Economic Studies (IES). The company also received the Excellence Award from IES.

“Joining the ranks of other leading Indian industrialists who have received these honours is one of the grateful achievements of NORD. We had to go through many hurdles before it could reach where we are today. NORD is equally thankful to our customers, family and friends, and every member of our organisation who stood firmly behind us during this whole journey,” said Mr Muthusekkar.

NORD has received many awards including the IPF (Industrial Products Finder) Award, Times of India Accent Best HR Practices Award, Best Decentralized Technology Award from MDA & VDMA, Leadership Excellence in Industrial Technologies award from Frost & Sullivan, Skill Development Award from Manufacturing Today, etc.

The Udyog Rattan Award and Award for Excellence is conferred by the Institute of Economic Studies every year. The IES was established in 1980 by a group of economists, parliamentarians and industrialists. The organisation works on studying various aspects of economy and economic development. The centres of the institute are in Delhi, Mumbai, Hyderabad and Bangalore. The patrons of the institute include several leaders in economic studies, politics and business.

The previous recipients of this prestigious award include R Krishna Bajaj, H S Singhania, Chairman JK Tyre and Industries, Dr B K Modi, Chairman & President, Modi Group of Industries, eminent dignitaries from social and industrial fields, including S.D. Shibulal (MD – Infosys), Anoop Kumar Mittal (MD – NBCC), Naresh Goyal (Chairman – Jet Airways), Sunita Sharma (MD – LIC Housing Finance), Netmagic, an NTT Communications Company’s MD & CEO Sharad Sanghi, among others.