ICICI bank presents CNBC-TV 18 'Emerging India Awards 2008' in London
MUMBAI: ICICI Bank Business banking and CNBC-TV18 announced the winners of the most anticipated awards for the Indian Small and Medium Enterprise (SME) Industry - ‘Emerging India Awards 2008‘ on July 8, 2008 in London, United Kingdom. The ‘Emerging India Awards‘ India‘s biggest initiative for the SME sector through its theme ‘Think Global Go Global‘ this year, recognize the SME‘s for the crucial role played by them towards the growth of the Indian economy and rewarded the most globally competitive SME, whose business practices are at par with global giants.
This year, king of steel L N Mittal, Chairman and CEO, Arcelor Mittal felicitated the winners at an exhilarating and motivating award ceremony in London which was also attended by various senior political dignitaries from United Kingdom and India namely Rt. Hon John Hutton MP, Secretary of State for Business, Enterprise and Regulatory Reform, Mr. Kamal Nath, Minister of Commerce & Industry, Government of India, who acknowledged the contribution of all 16 winners towards the economic growth of the fastest growing economy.
The primary objective of the awards 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. SMEs have the potential to drive substantial employment growth and wealth creation. 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. ‘Emerging India Awards‘ pioneered by ICICI Bank, India‘s second largest bank and CNBC-TV18, undisputed leader in business and supported by CRISIL, India‘s premier credit rating agency which is the Indian subsidiary of S&P, provides a platform that enhances the visibility of these integral players in India‘s economic growth story.
ICICI Bank and CNBC-TV18 have been organizing the Emerging India Awards since 2005, to recognize and showcase the value creating SMEs in the Indian economy. The Indian Prime Minister, Dr. Manmohan Singh, gave away the awards in 2007. India‘s large and growing entrepreneurial base is evident from the fact that there were 125,000 entries for just 10 awards in 2007, and this number has increased to 300,000 this year. In the year 2007, Emerging India Awards also earned a mention in the "Limca Book of Records" as India‘s biggest Business Awards.
This year, the State of Maharashtra topped the list for maximum number of entries for this years emerging Awards India Awards initiative followed by New Delhi, Gujarat and other states. The Emerging India Awards series has clearly indicated - year on year - the headway made by the states and the progress attained by the Indian economy.
With the Small and Medium Enterprises often hailed as being the drivers of economic growth this year overall Small and Medium Enterprise for the Year is Microqual Techno Pvt. Ltd. While Molecular Connections Pvt Ltd. is ‘The Most Promising Small Enterprise of the Year‘. Next Brick Solutions Ltd. won the honour of being the Woman Entrepreneur of the Year. This year CNBC-TV18 ‘Emerging India Awards‘ introduced a new category called Green Business Awards Geetanjali Woollens Pvt. Ltd. was nominated from across categories by CRISIL for their efforts towards environment conservation and utilization of environment friendly green technologies.