ICICI Bank & CNBC-TV18 Emerging India Awards 2007

Company News

Mumbai, June 26

ICICI Bank & CNBC-TV18 announced the winners of the ‘Emerging India Awards 2007’ on June 22, 2007 in the presence of Honorable Prime Minister, Dr. Manmohan Singh who felicitated the winners. Pioneered by ICICI Bank, India’s second largest bank and CNBC-TV18, India’s No 1 business medium along with CRISIL, India’s premier credit rating agency, ‘Emerging India Awards’ recognizes the crucial role played by Small and Medium Enterprises (SMEs) towards the growth of the Indian economy.

Referring to SMEs as the “emergence of a new generation of Indian enterprise” which was one of the great success stories of modern India, Prime Minister Dr. Manmohan Singh exhorted the winners to smoothly transform themselves into large industrial houses in the future. He also assured total support to the SMEs in terms of swift policy changes that will help them “leap forward” and “become more globally competitive.”

The Prime Minister pointed out that market imperfections particularly in access to credit, markets and technology placed small enterprises at a competitive disadvantage vis-à-vis large enterprises. “The time is ripe to work out a sensible policy framework which must address the issue of these market imperfections… I will request the Finance Minister to look at possible ways for expanding access to capital – in particular risk capital – to SMEs,” the Prime Minister said, reiterating the commitment of the UPA government to support the country’s SME sector.

Indian SMEs, with a maximum net worth of Rs. 50 crore, were eligible for entry to the CNBC-TV18 ‘Emerging India Awards 2007’ – acknowledged as India’s biggest business awards by the Limca Book of Records.

The State of Maharashtra topped the list for maximum number of entries for the initiative followed by Tamil Nadu, Karnataka and West Bengal. 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.

The winners of the CNBC-TV18 ‘Emerging India Awards 2007’ are –

Category Winner

Auto, Ancillaries and Engineering: IndoAsian Fusegear Limited

Pharma & Chemicals: Venus Remedies Limited

FMCG, Food & Agri-Business: Freshtrop Fruits Limited

Gems & Jewellery: Kama Jewellery

Textiles & Apparel: Indus Fila

Information Technology,

Communications & Entertainment &

IT enabled Services (ITeS): Value Labs

Infrastructure : Techpro Systems Limited

Travel & Tourism: Diana Hotels Limited

Retail Trade: Today's Writing Products

Non-Retail: Speck Systems Limited

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