CNBC-TV18 and HSBC India Celebrate the Success of India’s Leading SMEs at the SME Champion Awards

~The event was graced by the presence of Nitin Gadkari, Minister of Road Transport & Highways, Government of India; Rajesh Kumar Singh, Secretary, DPIIT and S Krishnan, Secretary, Ministry of Electronics and Information Technology, Government of India among others~

CNBC-TV18, India’s leading business and financial news channel, in collaboration with HSBC India, successfully concluded the “HSBC presents CNBC-TV18 SME Champion Awards”. The awards ceremony, held at the prestigious Taj Mahal, Man Singh in New Delhi, marked the culmination of a transformative six-month initiative dedicated to recognizing and celebrating the extraordinary achievements of India’s Small and Medium Enterprises (SMEs). The evening began on a high note with a captivating performance by legendary singer Usha Uthup. 

The awards ceremony was graced by the Honorable Minister of Road Transport & Highways, Government of India, Shri. Nitin Gadkari. While addressing the audience he said, “MSMEs have been excelling with new research, technology, and innovations. We believe this is the right time for India to reduce imports and increase exports. For instance, the government spends INR 2,00,000 crores annually on fertilizer subsidies. Today, we passed a resolution in the cabinet regarding the same. By using new technologies like nano fertilizers and nano pesticides, we can reduce costs and increase profitability. MSMEs are doing an excellent job in this regard and boosting exports.”

Shereen Bhan, Managing Editor of CNBC-TV18 gave a welcome address to the audience. In her address, she said, “CNBC-TV18 and HSBC India SME Champion Awards celebrate the outstanding individuals driving the SME sector. As we honour these remarkable champions, it’s important to acknowledge the impact of the MSME sector. With 63 million enterprises, MSMEs contribute approximately 30% to India’s GDP, 45% to manufacturing, and 40% to the country’s exports, generating over 110 million jobs and showcasing their vital role in employment creation. Embracing digital transformation, 72% of MSME payments are now conducted online, and 43% are engaged in e-commerce, highlighting their adaptability and competence. Additionally, the recent budget emphasises development with a capital expenditure allocation of 20,000 crores for creating industry clusters, tech hubs, and common facility centers, enhancing operational efficiency and competitiveness.

SMEs from various sectors were recognised for their remarkable work in their respective industries. Thirteen organisations, including two entrepreneurs, were honoured under seven different categories such as Manufacturing SME of The Year, Excellence In Sustainability Practices, Retail & E-Commerce SME of The Year, and Entrepreneur of The Year, among others. These awards underscore the sector’s essential role in driving the nation’s economic growth and honour the resilient spirit of India’s entrepreneurial landscape.

Hitendra Dave, CEO of HSBC India, took the stage for a keynote address. He said “We aim to support entrepreneurship by honouring entrepreneurs. The tagline ‘Excellence Meets Recognition’ embodies our belief that SMEs are crucial to the country’s economy, often more than we realise. Managing small and micro businesses is incredibly tough, and only those who have experienced it can fully grasp the challenges. We are dedicated to supporting entrepreneurship and are pleased that these awards and their visibility will inspire younger generations.”

The discussion delved into the impact of PLI Schemes with insights from Rajesh Kumar Singh, Secretary, DPIIT, and S Krishnan, Secretary, Ministry of Electronics and Information Technology, Government of India, in an intriguing fireside chat. Speaking about the PLI Schemes Rajesh Kumar Singh, Secretary, DPIIT said “The overall progress of the PLI schemes highlights significant achievements across various sectors. Notably, sectors such as electronics, food processing, bulk drugs, and pharmaceuticals have shown exceptional performance. We have recorded sales of nearly 1,10,000 crores, around 13,000 crores in new greenfield investments, and exports totaling approximately 40,000 crores. Moreover, these initiatives have created employment opportunities for over 8.12 lakh individuals. The swift development in these rapidly advancing sectors has helped offset some slower areas, benefiting a broader ecosystem of vendors, mainly from the MSME sector.”

Furthermore, S Krishnan, Secretary, Ministry of Electronics and Information Technology, Government of India said “If I were in the electronics sector and these schemes were introduced, it would present a significant opportunity for growth. With internships and similar initiatives, the industry can address the major challenge of skills by providing the necessary manpower, thereby facilitating the establishment of new units. The government is actively supporting these efforts.”

A subsequent fireside chat featuring Rajnish Kumar, Former Chairperson of SBI, addressed the critical importance of enhancing credit availability within the financial system. T. Koshy, MD & CEO of ONDC, discussed ONDC’s preparations to ensure equal opportunities for both small and large enterprises. These fireside chats provided valuable industry insights. Ajay Sharma, MD and Head of Commercial Banking at HSBC India, delivered a special talk highlighting the financial challenges faced by Indian SMEs. The event featured a Q&A session with the esteemed jury panel.

The event concluded with an enchanting performance by Usha Uthup, dedicated to Kargil Diwas on July 26, which deeply moved the audience.

Mentioned below is the list of winners –