In its second year, IPF Industrial Excellence Awards 2017 recognised people, processes and products that drive the industry forward to achieve success in a competitive market.
With the Government of India explicitly stating its goals for making India a global manufacturing hub, the country is now, more than ever, readying itself to make significant strides on the world stage. Against this background, Industrial Products Finder (IPF), India’s largest circulated industrial magazine in its 45th year, hosted its 2nd IPF Industrial Excellence Awards on December 20, 2017 at BSE, Mumbai. The awards were presented to the fastest growing manufacturing companies along with the firms that meet the standards of ‘Product Excellence’.
Highlighting the significance of the awards, Pratap Padode, Founder & President, Foundation of Infrastructure Research Studies Training (FIRST), informed, “There are 51 million SMEs in India contributing 50% of industrial output and constituting 42% of India's export earnings. They generate employment for about 117 million people and account 5.5% of the country's GDP. Thus, SMEs play a very important role in the country’s growth story. There are two areas were SMEs need support. First is technology (to maintain quality and be competitive globally) and second is finance. Industrial Products Finder aims to encourage product innovation and better business practices through the IPF Industrial Excellence Awards.”
The chief guest of the function was Sanjay Sethi, CEO, Maharashtra Industrial Development Corporation (MIDC), who explained in detail the new initiatives taken by the state government in last 2 years for manufacturing. According to him, awards like IPF Industrial Excellence Award encourages industrial activities, thus contributing to the economic growth.
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