Business Today-YES Bank Awards acknowledge SME sector as a game-changer

Choosing a dozen-odd outperformers from any given group cannot be too tough a task. But when you have to look for gems among some 36 million small and medium enterprises (SMEs), it can be a mind-boggling exercise-much like looking for the proverbial needle in a haystack.

Culminating one of India's mostextensive annual surveys of the SME sector, 13 winners of the fifth Business Today-YES Bank Best SME Awards were announced at ITC Maurya in New Delhi on Tuesday. For many of the winners it was a first-of-the-kind experience. Experts shared their thoughts and underscored the need for the banks to support the sector. "In spite of their different business models, there is a common winning streak among the winners and it helps them make a cut above the rest," said Pralay Mondal, senior president, retail and business banking, YES Bank. The bank was Business Today's survey knowledge partner.

The importance that the government attaches to this sector, which contributes more than 37 per cent to the gross domestic product, was evident in the speech of law and telecom minister Ravi Shankar Prasad, who was the chief guest. "I can see a new India emerging and there is a great confidence in the youth heading small companies," he said.

The list of winners was as diverse as the sector itself. "From a list dominated by winners in manufacturing and trading, I am happy to see a gravitation towards high value-added products and services driven by technology," said Aroon Purie, chairman, India Today Group.

"SMEs will play a critical role as India struggles to overcome its recent growth problems and return to its days of stellar growth."

Among the 13 winners, herbal products company Vidya Herbs and agri solutions provider iConcept Software Services won the Overall Winner Awards. The companies were classified into two broad categories based on their revenues: under Rs 50 crore and between Rs 50 crore and Rs 200 crore.

The other winners included Eskay Speciality Chemicals, La Opala RG, Quatrro Processing and Analytics Services, New Delhi Centre for Sight, Sundev Appliances, Tuareg Marketing, SEE Linkages, Monarch Catalyst, VAV Life Sciences, Maharani Paints and Woodland Hospital.

Guest of honour J.M. Garg, vigilance commissioner, Central Vigilance Commission, spoke about the need to rekindle the spirit the entrepreneurship.

"Unlike in the past, young people across the country are willing to take the risk of entrepreneurship. That's the spirit we must all salute," Garg said.

Underlining the role of such events in this process, he said, "The entire process followed for such events helps bring out the best in the industry and also motivates others to excel."

One of the winners Mahipal Singh Sachdev, chairman, New Delhi Centre for Sight, said, "It's a humbling experience and we now feel a greater onus to perform."