ICICI Bank, CNBC-TV18 presents the sixth edition of 'Emerging India Awards 2010'
The Benchmark of Excellence for India's SMEs
ICICI Bank Business Banking and CNBC TV18 presents the sixth edition of the ‘Emerging India Awards 2010’, India’s most coveted awards in the SME (Small and Medium Enterprises) space. The Emerging India Awards 2010’ are India's biggest business awards that recognize and reward the nation's best SMEs in their path breaking contribution to the society. The Emerging India Awards 2010 will reward tomorrow’s leaders, today. The awards supported by CRISIL will be held at The Venetian® Macao-Resort-Hotel on November 10, 2010.
The inspirational journey of the CNBC - TV18 Emerging India awards started six years ago with just about 5000 SMEs participating. Acknowledging their contribution to the nation and the economy, the honourable Prime Minister Shri Manmohan Singh had presided over the awards ceremony in 2007. In 2008, CNBC – TV18 honoured India’s brightest SMEs on the international stage as a mark of respect for their global achievement. As the UK government hosted them in London, Right Honourable John Hutton MP, Secretary of State for Business Enterprise and Regulatory Reform and Shri Kamal Nath felicitated the winners in the world’s most widely participated awards, the CNBC TV18 Emerging India Awards. Shri P Chidambaram graced this august ceremony last year.
The Venetian, Macao is hosting the ‘Emerging India Awards’ for the first time. It is the largest single structure hotel building in Asia and the fifth-largest building in the world by area. The 3,000-suite integrated resort features stunning replicas of the famous canals and architectural icons of Venice, Italy. The Venetian, Macao has become synonymous with innovative thinking, exceptional service and unparalleled amenities.
The award focuses on felicitating SMEs who exhibit world-class leadership, outstanding business acumen, best practices and exemplary vision, creating a legacy for others to emulate. These are the SMEs who will lead the next wave of economic growth.
The jury round of the awards was held in Mumbai on October 29, 2010 with an esteemed jury comprising of Mr. Rajiv Memani, Country Managing Partner, Ernst Young, Mr. Ved Jain, Ved Jain & Associates-Ex president Institute of CA, Mr. Rajiv Bajaj, Managing Director, Bajaj Auto, Ms. Anu Aga, Director, Thermax India, Mr. Harit Nagpal, Managing Director, Tata Sky, Mr. Virendra D Mhaiskar, Chairman & Managing Director, IRB Infrastructure Developers Limited & Mr. R.C.Bhargava, Chairman, Maruti Suzuki.
Speaking on the initiative, Mr. Anil Uniyal, CEO, CNBC- TV18 & CNBC AWAAZ said, “We at CNBC-TV18 have always supported and nurtured SME’s through various initiatives and programmes and believe that the SMEs are the future of the Indian Economy. Therefore we continue to support the cause of SMEs with the sixth edition of the ‘Emerging India Awards 2010.’ The awards have proved to be a motivator for SMEs in the past and we hope to maintain the momentum even in the future.”
Commenting on the initiative, Ms Chanda Kochhar, ICICI Bank MD & CEO, said "Emerging India Awards has been conceptualised to recognise the growing Small and Medium Enterprises (SMEs) and celebrate their entrepreneurial spirit. This Award helps recognise the heroes of the Indian growth story by felicitating the business leaders of tomorrow. Through this platform and other initiatives ICICI Bank encourages SMEs to enhance their competencies and realise their potential. At ICICI Bank, it has been our constant endeavour to help develop the SME ecosystem by offering them financial support and partnering their growth.”
Speaking on the occasion, Mr. Raman Uberoi, Sr. Director, CRISIL Ratings said, “CRISIL is proud to be associated with the 'Emerging India awards since its inception in 2005. Evaluating more than half a million SMEs as a part of this process has been a gratifying experience. More importantly, we have been witness to the sense of recognition and pride amongst the winners, and it has been fascinating to see several of the winners grow from strength to strength and become industry leaders in their own right. This represents the true spirit of Emerging India which is really all about creating a robust platform to showcase high potential SMEs and helping them grow. It is no surprise therefore that the Emerging India awards have reached a position of eminence and will continue to be the signature awards in the SME sector for many years to come."
Speaking on the initiative, Mr. Edward Tracy, President and Chief Operating Officer, Sands China Ltd, which developed and operated The Venetian Macao, Sands Macao and Four Seasons Hotel Macao and Plaza Casino, said, “Macao is privileged to welcome increasingly more Indian business and leisure travelers. Hosting prestigious events such as Emerging India implies that Macao is becoming a top-of-mind destination among the business community in India. The Venetian Macao is honored to pioneer this effort, bringing more future professional trade events and business meetings for our honorary guests from India to Macao.”
The primary objective of ICICI Bank & CNBC-TV18 'Emerging India Awards' is to support and motivate Indian SMEs by highlighting their outstanding performance. The awards, in the past, have helped accelerate the progress of greater and easier flow of credit from the banking sector to SMEs. Often referred to as the backbone of the economy, SMEs have the potential to drive substantial employment growth and wealth creation. The sector is witnessing reforms in terms of liberalisation and deregulation which would also contribute to SME growth story in India. 'Emerging India Awards' pioneered by ICICI Bank, India's second largest bank and CNBC-TV18, undisputed leader in business and powered by CRISIL, a Standard and Poor’s company , provides a platform that enhances the visibility of these integral players in India’s economic growth story.
Mr. Arun Maira, Member Planning Commission would be the guest of Honor for the Awards. We have Mr. Ved Jain, Ved Jain & Associates-Ex president Institute of CA, Ms. Anu Aga, Director, Thermax India, Mr. Harit Nagpal, Managing Director, Tata Sky who would be present at the emerging India awards in Macao.
The categories for this year’s awards are:
A) INDUSTRY BASE:
Life Sciences(Pharma & Chemicals):
- Pharma - Producers and organic and inorganic medicinal substances for human or veterinary use; bulk drugs and generics, drug formulation and molecules biotechnology, ayurvedic, natural medicine, etc.
- Chemicals - Manufacturers and developers of chemical substances, organic, inorganic & synthetic chemicals, explosives, essential oils, gelatins, agrochemicals, pigments, dyes intermediates, etc.
Infrastructure:
- An infrastructure service including all kinds of providers of commercial and social infrastructure like roads, power, ports, shipping, transport, hospitals, construction, educational institutions, etc.
Auto and Engineering:
- Auto- Vehicle manufacturers, dealers and aftermarket services in the automotive sector.
- Engineering - Industries manufacturing machinery, machine tools, motors, pumps & compressors, electrical and electronic devices and their parts.
IT-ITES:
- Information Technology - Business in hardware, data management information and standards, information technology, software applications and the software development process.
Power and Telecom:
- Manufacturing and services related to power and telecom industry.
Agri & Food Processing:
- Agri-Business - Manufacturing related to agriculture and its products like tobacco based products, coir making, aqua farming, floriculture, etc.
- Food - Processors and producers of food, beverages and their ingredients; food grains, milk, meat, fish, eggs and other animal based products, oilseeds, tea, coffee, spice processing, liquor brewing, etc.
Retail, Trading & Other Services:
- Retail Trade of all kinds i.e. sale to the consumer-of all types of goods and services and also all type of distribution networks like dealers, franchises, direct selling and e-trade which sell directly to the consumer.
B) CATEGORIES ACROSS INDUSTRIES:
- Most Innovative SME of the year
- Socially responsible SME of the year
- SME with a global reach
- Technosavvy SME of the year
- Green Co. of the year
- Women entrepreneur of the year
- SME of the year
- Small business of the year
- Mid corp company of the year
This year the Emerging India Awards has introduced a new category, ‘Global Entrepreneur of the Year’
Criteria and selection methodology for Emerging India awards 2010
Overview/ preface:
- Methodology based on CRISIL’s in-depth understanding of the SME space and key issues impacting the sector
- Focus on evaluating sustainability of value creation for key stakeholders
- Appropriate balance between quantitative and qualitative parameters
- Combination of qualitative as well as quantitative parameters.
The screening process
* The companies are screened out on the basis on data provided by the companies in the application forms. Various financial parameters have been used to short-list the companies to the top 35 in each category. However, the application forms in which material information is not duly filled are disqualified in this phase.
* The short-listed companies are then required to send in further details which include:
- Audited financial statements, verification from lead banker, any relevant references from industry associations/ key large clients
- Comprehensive write-up on business
- Future plans and strategies
- Management background, experience, and track record
- Brief write-up and summarized financial performance on affiliate / group companies
- Details of innovation (in products, processes, marketing, distribution or R&D)
- Use of Information Technology (ERP, automation, etc.)
- Initiatives for conservation of the environment and corporate social responsibility
* The top 35 companies in each of the categories are then studied upon by analysts from CRISIL. The analyst studies the company on the following basis
- Market position, competitive strengths
- Business strategy, growth plans and future prospects
- Management vision, quality, experience and depth
- Financial flexibility, including past growth, profitability, ability to meet debt obligations, relationship with bankers
* Evaluation of business model, competitive strength, management quality and depth are critical to assess the scope of future performance, while financial data is essential for evaluation of past performance and future expectations.
- Consistent financial performance reflects the past performance of the company. The financial analysis is based on the performance of the past three years.
- The business strength including peer group analysis and other operational efficiencies help assess the current performance of the company.
- The strength of the relationships with various stakeholders, including, customers and suppliers, and quality of management enable the team to assess the future performance of the company.
* The analysts then make a presentation of the top 10 entities from each of the segment to a panel of Directors and Heads in CRISIL.
* The panel which consists of the Heads and Directors short-list the top three in each category.
* The top three companies selected in each category, then make a presentation to a panel consisting of representatives from CRISIL, ICICI, and CNBC, besides eminent independent jury members to finally decide the winners.
About CNBC-TV18:
CNBC-TV 18 is India's No.1 business medium and the undisputed leader in business news. Its leadership epitomizes the fact that India means business. It delivers quality and involved audiences that comprise a comprehensive viewership base greater than similar offerings in the business space across all media. The channel's benchmark coverage extends from corporate news, financial markets coverage, expert perspective on investing and management to industry verticals and beyond. CNBC-TV18 has been constantly innovating with new genres of programming that helps make business more relevant to different constituencies across the country. CNBC-TV18 is currently available in over 30 million households in India.
About ICICI Bank Business Banking:
ICICI Bank Limited (NYSE:IBN) is India's largest private sector bank and the second largest bank in the country, with consolidated total assets of over $100 billion at June 30, 2010. ICICI Bank’s subsidiaries include India’s leading private sector insurance companies and among its largest securities brokerage firms, mutual funds and private equity firms. ICICI Bank’s presence currently spans 19 countries, including India.