MUMBAI: ICICI Bank Business banking presents CNBC-TV18 ‘Emerging India Awards London-2008‘ creates a global mark, with its theme ‘Think Global Go Global‘, India‘s biggest initiative for Small and Medium Enterprises Sector. The Emerging India Awards London- 2008 felicitation ceremony for the winning SMEs is scheduled for July 8, 2008 in London where the Honorable Chief Guest Mr. L N Mittal, Chairman and CEO, Mittal Steel will felicitate the winners.
The award ceremony will be graced by stalwarts like Rt. Hon John Hutton MP, Secretary of State for Business, Enterprise and Regulatory Reform and Mr. Kamalnath, Minister of Commerce & Industry, Government of India, who will felicitate some of the winners from the 16 categories.
CNBC-TV18 India‘s leading business medium and ICICI Bank announced the 4th ‘Emerging India Awards London- 2008‘ powered by CRISIL. Small and Medium Enterprises are often hailed as being the drivers of economic growth. ‘Emerging India Awards‘ this year will recognize and reward India‘s most globally competitive SMEs whose business practices are at par with global giants.
The CNBC-TV18 ‘Emerging India Awards‘ initiative aims at recognizing the most sustainable Value Creators among SMEs in the country. It is estimated that SMEs account for almost 90% of industrial units in India, 40% of value addition in the manufacturing sector and contribute 35% to India‘s merchandise exports. CNBC-TV18 ‘Emerging India Awards London 2008‘ will provide a platform that enhances the visibility of these integral players in India‘s economic growth story.
CNBC-TV18 ‘Emerging India Awards 2008‘ will go global for the first time and has introduced a new category called Oversea NRI - for the most promising SME that has been promoted by a Non Resident Indian from Hongkong & Singapore and United Kingdom. As the Indian growth story gains momentum, leading industries are engaged in transformation to ensure that the rapid progress does not harm the environment. By introducing Green Business Awards- CNBC-TV 18 ‘Emerging India Awards‘ aims at creating awareness & garnering commitment towards the environment. CRISIL will nominate three SMEs from across categories for their efforts at environment conservation and utilization of environment friendly green technologies.
The primary objective of the award is to support and motivate Indian SME‘s by honoring them with the prestigious CNBC-TV18 ‘Emerging India Awards‘. The award helps accelerate the progress of greater and easier flow of credit from the banking sector to SMEs. CNBC-TV18 ‘Emerging India Awards London 2008‘ will help in seizing valuable opportunities for the small and medium enterprises (SME) in India to create and strengthen their competitiveness and resilience also in the global arena.
Commenting on the awards Mr. Neel Chowdhury, Vice President, Marketing CNBC-TV18, CNBC Awaaz said "The Emerging India Awards has become not just the benchmark for recognizing the best performing enterprises from the SME space but it has also emerged as India‘s (and one of the world‘s) largest business awards! We are extremely proud to partner with ICICI Bank in this initiative. What is also extremely heartening that SMEs are raring to go and willing to take on challenges & opportunities thrown in by globalization with Think Global Go Global! We will continue to take up the SME cause at the CNBC TV18 network."
CNBC-TV18 and ICICI Bank ‘Emerging India Awards‘ is India‘s foremost initiative powered by the capability of shaping the future of Indian SMEs, and have been acknowledged as India‘s biggest business award by the Limca Book of Records.
Following are the nomination categories:
" Overseas NRI category of the year - new category introduced this year for the most promising SME that has been promoted by a Non Resident Indian
- Overseas Business of the year - Hongkong and Singapore
- Overseas Business of the year- United Kingdom
" Green Business Award of the Year
" SME of the Year
" Small Enterprise of the year
" Women Entrepreneur
" Auto, Ancillaries and Engineering
" Pharma & Chemicals
" FMCG, Food & Agri-Business
" Gems & Jewellery
" Textiles & Apparel
" Information Technology, Communications and Entertainment (ICE) & IT enabled Services (ITeS)
" Travel & Tourism
" Retail Trade
" Commodity Traders and Others
The Emerging India Initiative has been conceptualized to reward entrepreneurship and innovation in addition to business and financial performance. A rigorous evaluation program has been designed to select the best and the most sustainable value creator amongst the small and medium enterprises. CRISIL, India‘s premier credit ratings agency executes the evaluation process every year.
The first round of selection for the CNBC-TV18 ‘Emerging India Awards‘ involves review of Financial Statements of the nominees by CRISIL. The evaluation was based on the performance of the company in the current and previous years to ensure consistency of performance.
During the second round of the screening, 25 short-listed entities in each category provided detailed information on:
- Comprehensive write-up on business
- Audited financial statements, verification from lead banker, any relevant references
from industry associations/ key large clients
- Future plans and strategies
- Management background, experience and track record
- Brief write-up and summarized financial performance on affiliate / group companies
CRISIL has also looked at the following factors to evaluate the nominated SMEs:
- Market position, competitive strengths
- Business strategy, growth plans and future prospects
- Management vision, quality, experience and depth
- Additionally CRISIL has also evaluated the companies on their ability to enter and
establish their presence in global market and meet global challenges.
The second round of screening will result in the short listing of 3 entities per category. Each of the 3 short listed entries made a final round of offsite presentations about their respective businesses to a jury of independent experts. 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. This year a new factor has been taken into consideration for the International SME‘s where their business linkages with India and strategic focus on the Indian market will be been evaluated. The evaluation was also done keeping in mind the economic dynamics of regions and the company‘s efforts.