Frontrunners of Indian Manufacturing Fraternity Awarded for adopting world class standards

Chennai (Tamil Nadu), Aug.13 (ANI-Businesswire India):Leading Manufacturing Companies in India were honored at the National Awards for Manufacturing Competitiveness (NAMC) hosted by the International Research Institute for Manufacturing (IRIM) at Hotel ITC Grand Chola in Chennai on 12th August 2016. Among the Award winners, Tractor & farm mechanization equipment major New Holland Fiat (India) Pvt. Ltd. based in Greater Noida bagged the top award followed by the Chennai Plant of Schneider Electric India Ltd. and the Nagpur unit of Mahindra & Mahindra Ltd. which received the First and Second runner-up respectively. Mr. Anand Louie, Director - IRIM Welcomed the gathering and spoke about the importance of using the Information technology and the need for continuously upgrading the manufacturing systems to become competitive in the global ecosystem. The Vice Chairman of Sanmar Group Mr. N. Kumar presided over the event and distributed the awards. Mr. Kumar spoke about the factors which influence the competitiveness of Indian manufacturers. He also touched upon the need for getting a third party's perspective of an organization's progress which would help in building robust strategies for growth. Murugappa Group, A conglomerate headquartered at Chennai with diversified interests had an active participation with 4 of its units belonging to the business divisions of Carborundum Universal Limited & Coromandel International Limited winning accolades at the event. India primarily being an Agriculture based Economy, It was interesting to observe the progressive trend in Farm Equipments and Agro chemicals sector as the majority of the participation was from these two. This positive outlook is only expected to spread across the other segments in the days to come. IRIM, as an unbiased third party evaluated and rated each company on its unique manufacturing competitive index. This rating was achieved through a structured assessment of the manufacturing facility on 10 indicators of manufacturing competitiveness which are building blocks behind the calculation of this index. The assessment was customized to each facility by assigning unique weightage to each of these indicators based on organization's priorities to become more competitive. This is the third time such a Program has been conducted by IRIM in India. Compared to the Previous Edition, There has been a 40 percent increase in the number of participating companies which is an indicator of the optimism prevailing among the manufacturing fraternity in India. (ANI-Businesswire India)