| AVT Natural Products Ltd won this year Emerging India Awards, constituted for Small and Medium Enterprises in India, for "FMCG Food and Agri Business Category". All SMEs having maximum net worth up to Rs. 500 million were eligible for this award.
The awards were given away on a countrywide basis targeting ten different categories.
1. Auto Engineering and Ancillaries.
2. Pharma and Chemicals.
3. FMCG, Food and Agri-Business.
4. Gems and Jewelry.
5. Textiles and Apparel.
6. Information Technology, Communication and Entertainment (ICE), IT enabled services (ITeS).
8. Travel and Tourism.
9. Retail Trade.
10. Commodity Traders and Others.
ICICI bank, CRISIL and CNBC –TV18 had instituted these awards as apart of their overall approach to recognize the immense contribution made by SME’s towards the economic and social development of the country. Today, over 95% of industrial units are SME’s. They account for 40% of industrial output and 35% of exports.
Small and Medium Enterprises form the backbone and are the primary growth engine in most world economies .The Government of India has taken various measures to improve the SME sector that is currently facing several challenges. Realizing the potential of the SME sector the Emerging India Awards ceremony aimed to certificate the efforts of the most deserving SME’s in each category, thus bringing them into the limelight. This provided them a platform to voice their opinions. Furthermore they are pioneering an initiative to recognize and honor the ‘ Best Sustainable Value Creates’ in the SME sector.
ICICI bank and CNBC-TV 18 have tied up with CRISIL (India’s premier credit rating agency) for designing and executing the evaluation process for the awards. CRISIL used its significant expertise in the SME domain to identify the leaders in SME sub segments. The awards established benchmarks for others to emulate and foster the best practices among SMEs. CRISIL offers bouquet of services to the sector including SME grading, certification services, and models for assessing credit risk in SMEs and research reports on SME clusters.
Tata Indicom Enterprise business unit and AFL will also lend its support to this initiative.
AVT Naturals have shared second prize of Kerala State Pollution Control for excellence in pollution control by large industries in Kerala for 2009/10
Minister for Health and Social Welfare P.K. Sreemathy, who announced the awards here on Thursday, said the institutions were chosen for the awards considering their achievements in conserving environment.