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'SMEs have potential to drive substantial employment growth and wealth creation'

SME WORLD Bureau
Dec 2010

Contribution of SMEs in India is now being discussed at every platform. More and more corporate are coming forward to promote the sector multi-fold. Potential of the sector is being recognized and efforts are being made to promote the entrepreneurs. They are being motivated and encouraged by highlighting their performances.

One such effort was made jointly by ICICI Bank and leading business channel CNBC in New Delhi recently. With the objective of recognising and highlighting performances of the SMEs who have excellent achievement in different areas, 'Emerging India Awards' were given in 16 categories like Most Innovative SME of the Year, SME with the Global Reach, Socially Responsible SME of the Year, Mid Corp Company of the year, etc. besides separate categories for different sectors.

The sixth edition of the 'Emerging India Awards 2010' was powered by CRISIL. These awards recognize and reward the nation's best SMEs in their path breaking contribution to the society.

Arun Maira, Member Planning Commission, Ved Jain of Ved Jain & Associates-Ex President Institute of CA, Anu Aga, Director, Thermax India, Harit Nagpal, Managing Director, Tata Sky amongst were present at the event in Macao.

Speaking on the occasion, Raman Uberoi, Sr. Director, CRISIL Ratings said, “We are 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."

Commenting on the initiative, K. V. Kamath, Non-executive Chairman, ICICI Bank, 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 initiative, 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 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.”

Edward Tracy, President and COO, the Venetian said, “The Emerging India Awards 2010 is India's biggest business awards and we are very proud of being associated with them. These awards have not only created a remarkable platform to recognize the SME's which have contributed to the society with their business potential but also created a niche for themselves. We feel really privileged to continue our association with the Emerging Awards for the years to come.”

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.

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