Frost & Sullivan holds 15th edition of India Manufacturing Excellence Awards
Global market research and business consultancy Frost & Sullivan has held the 15th edition of its India Manufacturing Excellence Awards (IMEA) last week in Mumbai, recognising as many as 28 firms across the country for their excellent practices in the domain of manufacturing.
Government initiatives such as ‘Make in India’ have sought to drive up the share of the manufacturing sector in India’s GDP in recent years, primarily due to the fact that India’s share of the global services sector far outweighs its contribution to the global manufacturing market.
Market research and strategy consulting firm Frost & Sullivan has sought to recognise firms in India not only for their substantial contributions to the value of the manufacturing sector, but also for their flexibility and capacity to adopt the latest international best practices, placing them in the position of leaders for the sector.
The awards are presented after a comprehensive evaluation of a manufacturing firm’s operations, starting with a quantitative score of a firm compared with international models of excellence, followed by an examination of these practices against other industry benchmarks.
Based on these assessments, the firm recognised 28 companies for excellence this year, spread across four categories, namely the Indian Manufacturer of the Year Awards, the Future Ready Factory of the Year Award, the Gold Award and the Smart Factory Award, which is a new addition for this year.
The last category focused its assessment on capabilities within the domain of Industrial Internet of Things (IIoT). The award for this category, in addition to the award for ‘Indian Manufacturer of the Year’ went to Mahindra & Mahindra this year.
In addition, the firm recognised the state of Maharashtra in India as the most lucrative region for investment in the country. The award was presented based on an evaluation conducted by the firm, which involved an assessment of all 29 Indian states based on 30 key indicators.
