Awards Recognizing Leadership in Indian Manufacturing Are Presented at the Confederation of India Industry’s Partnership Summit in Andhra Pradesh
Delhi (January 27, 2017): Today, Time Inc. (NYSE: TIME) announced the winners of the second annual TIME India Awards, honoring leaders for manufacturing excellence in India at the Confederation of Indian Industry (CII) Partnership Summit in Andhra Pradesh, India. McKinsey & Company is the knowledge partner for the awards, which were given in eight categories.
The winners were announced at the Partnership Summit, with Indian Minister of Finance Arun Jaitley, Minister of State for Commerce and Industry Nirmala Sitharaman and Andhra Pradesh Chief Minister N. Chandrababu Naidu presenting the awards, after an introduction by Time Inc. Vice Chairman Norman Pearlstine and McKinsey & Co. Senior Partner Rajat Dhawan.
Alongside prizes for the Manufacturing Innovator for the Year and the Global Manufacturer for the Year, the 2017 Time India Awards recognized the country’s most exciting startups and small and medium-sized businesses.
The winners of the 2017 TIME India Awards:
· Innovator for the Year: Mahindra & Mahindra
· Global Manufacturer for the Year: Bharat Forge
· MSME Innovator for the Year: Phoenix Medical Systems
· MSME Manufacturer for the Year: KHS Machinery
· Startup Innovator for the Year: Barrix Agro Sciences
· Startup Sustainability Pioneer: Greenway Grameen Infra
· Jury Special Mention-MSMEs: PTC Industries
· Jury Special Mention-Startups: Versa Drives
“Time Inc. is pleased to recognize the eight world-class manufacturing companies that have won the 2017 TIME India Awards for their innovation and excellent financial results,” said Pearlstine. “Building on last year’s success, the awards significantly expanded to include businesses of various sizes and they also became much more competitive, as we received five times as many entries this year.”
Ashok Kumar, senior expert, McKinsey & Company said, “Manufacturing has the potential to power India’s growth and transform lives. We see a quiet transformation taking place. Companies across the entrepreneurial spectrum - from startups to large enterprises, are innovating hard to serve customers better. We are delighted to partner with TIME to recognize the heroes who are leading this search for excellence.”
The winners were selected among 18 finalists, who were determined from a pool of approximately 15,000 manufacturing companies after extensive evaluation of qualitative and quantitative parameters. The finalists were announced at the World Economic Forum in Davos, Switzerland on January 17.
A jury of leading business figures led by Pearlstine selected the winners of the TIME India Awards in each category. Judges included General Electric Vice Chairman John Rice; Infosys Founder N.R. Narayana Murthy; ICICI Bank Managing Director and Chief Executive Officer Chanda Kochhar; Time Inc. Executive Editor, International Clay Chandler; and McKinsey & Co. Chairman (Asia) Kevin Sneader.
ABOUT TIME INC.
Time Inc. (NYSE:TIME) is a leading content company that engages over 150 million consumers every month through our portfolio of premium brands across platforms. By combining our distinctive content with our proprietary data and people-based targeting, we offer highly differentiated end-to-end solutions to marketers across the multimedia landscape. Our influential brands include People, Time, Fortune, Sports Illustrated, InStyle, Real Simple and Southern Living, as well as more than 50 diverse titles in the United Kingdom. Time Inc. has been extending the power of our brands through various acquisitions and investments, including Viant, an advertising technology firm with a specialized people-based marketing platform; The Foundry, Time Inc.’s creative lab and content studio; and the People Entertainment Weekly Network (PEN). The company is also home to celebrated events, such as the Time 100, Fortune Most Powerful Women, People’s Sexiest Man Alive, Sports Illustrated’s Sportsperson of the Year, the Essence Festival and the Food & Wine Classic in Aspen.
About McKinsey & Company
McKinsey & Company is a management-consulting firm that helps leading corporations and organizations make distinctive, lasting and substantial improvements in their performance. Over the past eight decades, the Firm’s primary objective has remained constant: to serve as an organization’s most trusted external advisor on critical issues facing senior management. With consultants deployed from over 109 locations in 61 countries, McKinsey advises companies on strategic, operational, organizational and technological issues. The Firm has extensive experience in all major industry sectors and primary functional areas as well as in-depth expertise in high-priority areas for today’s business leaders.