4th IPF Industrial Excellence Awards lauds 19 SMEs from 16 cities

Industrial Products Finder (IPF) has developed a financial model which recognises the fastest growing SME across 8 segments from manufacturing sector. The awards recognise people, processes and products from the SME sector that drive the industry forward to achieve success in a competitive market.

I ndustrial Products Finder (IPF), India’s largest circulated industrial magazine in its 48th year, hosted its 4th IPF Industrial Excellence Awards on January 16, 2020 at the National Stock Exchange (NSE), Mumbai, during which 19 SMEs from 16 Indian cities were presented the awards in recognition to their achievements during the year.

IPF Industrial Excellence Awards 2020 was held in the grand presence of Guest of Honour Naseem Sharifi, Consul General of Afghanistan; Bhavesh Thakkar, Partner (Tax and Regulatory), Ernst and Young LLP; and Rachana Bhusari, VP – SMEs, National Stock Exchange of India Limited (NSE).

Every year IPF Awards are presented in two categories - “Fastest Growing Manufacturing Companies” (under Rs 500 crores turnover) and “Innovative Products”. This year, in addition to the regular two award categories, IPF presented awards in 2 new categories – “Promising Start-up of the Year” and “Entrepreneur of Year (Female and Male)” - to recognise and appreciate the contribution of start-ups and entrepreneurs in job creation and economic growth.

While Mohini Kelkar, MD, Grind Master Group, was the winner of the “IPF Female Entrepreneur Of the Year”, Jignesh Raval, MD, Sintercom Ltd., was the “IPF Male Entrepreneur Of the Year”. “IPF Promising Start-up of the Year” awards were presented to Divide by Zero Technologies, Navi Mumbai, and Arrelic Reliablity Pvt. Ltd., Bhubaneswar (Odisha).

The winners were selected by a jury panel comprising eminent personalities from the industry and engineering institute.

Congratulating the winners, Guest of Honour Naseem Sharifi, Consul General of Afghanistan, said, “India and Afghanistan has strong bilateral relations for decades, while India has been an active trading partner. Currently, India’s exports to Afghanistan amount to about $700 million. Afghan exports to India have increased by 60 per cent. We respect India’s love for our products like Saffron. With bilateral trade, India is rebuilding Afghanistan.”

Highlighting areas where SMEs can empower themselves, Pratap Padode, Founder & President, Foundation of Infrastructure Research Studies Training (FIRST), informed, “SMEs being backbone of Indian economy will always strive to think – What can I do apart from what I do? Just one per cent SMEs today below Rs 2.5 billion business are filing their yearly returns. If they increase tax collection increases. Higher the tax collection will result in more schemes and more schemes will help SMEs grow.”

Sharing some hard facts on the SMEs in India, Padode stated, “There are 70 million SMEs and 99 per cent fall under the 250 crore segment. Only 7 lakh companies file income tax returns. Of these, 7000 companies with revenue over 250 crore file returns. Interestingly, there are 1.3 lakh SMEs who export.”

“Availing credit facility, use of inferior technology and accessing right marketplaces for their products are some major factors affecting SME growth in India,” informed Padode.

ECGC Limited was the Associate Partner, while National Stock Exchange (NSE) and CARE Ratings were Exchange Partner and Knowledge Partner, respectively. Besides, leading industry associations like Plastics Machinery Manufacturers Association of India (PMMAI), Pimpri-Chinchwad Plastic Association (PCPA), MAIT (Manufacturers’ Association for Information Technology), MRO Association Of India, and Federation of Associations of Maharashtra (FAM) extending their support to this event.

Interactive custom video

Priyanka Padode Sheth, Business Head- Digital, ASAPP Info Global Group unveiled a brand new video service on www.ipfonline.com which will enable SMEs to create custom videos instead presenting their products merely through images. During her presentation, she stated that the new way to engage buyers is through the medium of video. “A business can no longer simply rely on photographs or catalogues; every product needs to be brought to life and that can be done through video. Video helps show your potential buyer a real-life rendition of how the product functions, which can lead to enhanced business opportunities,” Seth informed.

Further, the ASAPP team has launched the ASAPP Digital Agency (ADA). It is a subdivision of the ASAPP Info Global Group engaged in offering digital services like Digital Strategies, Social Media Management, Creatives and Collaterals, Paid Campaign Management, Website Creation and Lead Generation.

A thought for future

IPF also hosted a highly engaging “CEO Forum” panel discussion on the theme of “Essential survival strategies for SMEs”.

The panel discussion was moderated by Saikat Roy, Director & Head - SME, CARE Ratings. The panelists – comprising Rachana Bhusari, VP - SMEs, NSE; Mohini Kelkar, Managing Director, Grind Master Group; Nitin Pangam, CEO, Maeflower Consulting; Vijayanand Choudhury, Global Head Procurement, Tata Technologies; and Neeti Sharma, Senior Vice President, TeamLease Services - discussed some of the imminent challenges before SMEs and strategies to thrive in the challenging market conditions.

In his opening remark, Saikat Roy, said, “Industry is going through VUCA (Volatility, uncertainty, complexity and ambiguity) phase where market conditions are unstable. The government has come up with bunch of projects but the ground reality differs.” He suggested looking at challenging time differently as a lesson and vividly exploring new opportunities.

Key to success

In his keynote address, Bhavesh Thakkar, Associate Partner - Tax & Regulatory, EY India, enlightened the audience about incentives available in India for SMEs and how to avail those incentives. During the event, IPF SHOWTIME was unveiled which profiled all the winners of the IPF Industrial Excellence Awards 2020 and their achievements.

List of winners of IPF Industrial Excellence Awards 2020

Female Entrepreneur Of the Year - Mohini Kelkar, Co-founder and MD, Grind Master Group