Manufacturing is vital for the health of any country and it helps other countries in assessing its economy. Indian manufacturing is at a critical juncture, as where it is facing tough competition from global manufacturing giants that are leaders but are continuously working on improving manufacturing and quality by bringing in new products, latest technology and making manufacturing more proactive and responsive. In this scenario the Indian manufacturing has responded well by enhancing quality standards, improving productivity and efficiency.

Corporations from all over the world are coming to India for manufacturing; India is becoming a production base and an export hub for diverse goods, from agricultural products to automobile components to high-end services. Indian firms are now becoming part of global production chains involving import of sub-assemblies, value addition and re-export. Taking advantage of its low cost and pool of high-quality talent, international corporations have either shifted or planning to shift their R&D and manufacturing centers to India.

To recognize and applaud efforts of Indian manufacturing companies towards achieving excellent-to-world class manufacturing status, Frost & Sullivan instituted “India Manufacturing Summit” and “India Manufacturing Excellence Awards (IMEA)” in 2004 with a mission “to recognize the Indian Manufacturing Capability and assess its Global Competitiveness”.

The awards night would be preceded by “India Manufacturing Summit” wherein presentations from amongst participating companies will be shared (subject to approvals) as to stimulate lateral deployment in the Industry. These will be on possible best practices, as observed by the assessment team.

Frost & Sullivan, as an organization is involved with achievers on an ongoing basis and believes that innovation and diligence is required to actualize a successful business strategy and achieve distinction in the face of increasing global competitiveness. Frost & Sullivan’s global presence enables recognizing the best practices of the corporate arena on a regional as well as on a global basis.