ICICI Bank and CNBC-TV18 have tied up with CRISIL (India's premier
credit rating agency) for designing and executing the evaluation
process for the awards. Tata Indicom Enterprise business unit and
AFL will also lend it's support to this initiative.
The awards would be given away on a countrywide basis targeting
ten different categories:
- Auto, Engineering and Ancillaries
- Pharma and Chemicals
- FMCG, Food and Agri-Business
- Gems and Jewellery
- Textiles and Apparel
- Information Technology, Communications and Entertainment (ICE),
IT enabled Services (ITeS)
- Travel and Tourism
- Retail Trade
- Commodity Traders and others
SMEs can send in their entries from 8 December and the last date
for sending in entries for the awards is 7 January, 2005. The evaluation
process will be completed within three months, which will culminate
into an awards ceremony in March 2005. The entry form can be collected
from any of the ICICI Bank branches or can be submitted online by
visiting the website www.moneycontol.com/cnbc/emergingindia.
Announcing the awards initiative, ICICI Bank retail business head
V Vaidyanathan said, "ICICI Bank and CNBC-TV18 have instituted
these awards as a part of their overall approach to recognize the
immense contribution made by SMEs towards the economic and social
development of the country. Today, over 95 per cent of all industrial
units are SMEs. It accounts for 40 per cent of all industrial output
and 35 per cent of exports. SMEs provide 45 per cent of the industrial
employment and are the prime driver of new employment. We have seen
strong growth and value creation in this segment, and felt that
bringing out these achievements on a public platform would not only
provide this segment the due recognition but will also provide inspiration
to many other players in this segment to do even better and contribute
to the Indian economy."
CNBC-TV18 CEO Haresh Chawla 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, globalization and demanding customers.
Realising the potential of the SME sector, the Emerging India Awards
ceremony aims to felicitate 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 to voice their opinions."
CRISIL Limited executive director and chief rating officer Roopa
Kudva, on the other hand said, "The Emerging India Awards are
a pioneering initiative to recognise and honour the 'Best Sustainable
Value Creators' in the SME sector. CRISIL will use its significant
expertise in the SME domain to identify the leaders in SME sub segments.
The awards will establish benchmarks for others to emulate and foster
best practices among the SMEs. CRISIL offers bouquet of services
to this sector including SME grading, certification services, models
for assessing credit risk in SMEs and research reports on SME clusters."
The Emerging India Awards invites entries from those SMEs that
have started operations before 1 January 2000. These will be shortlisted
to 25 per category based on value creation parameters of financial
data provided by the entities. A second round of screening will
follow where CRISIL will review the Financial Statements of the
chosen entities to shortlist three entries per category. Each of
the three shortlisted entities per category will have to make a
final round of offsite presentations about their respective businesses.
Awards will be presented to winners as well as runners-up in each
As a part of this initiative, ICICI Bank and CNBC TV-18 had also
organised forums in Mumbai, Delhi, Chennai, Bangalore and Ahmedabad
to discuss the various issues and opportunities for SMEs in various