TIME Inc. Announces 2017 TIME India Awards

Awards Recognizing Leadership in Indian Manufacturing Are Presented at the Confederation of India Industry’s Partnership Summit in Andhra Pradesh

Andhra Pradesh, 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.