Arguably India’s most unbiased MSME award initiative, the ET MSME Awards 2023 builds on its earlier avatar of ET Rise Top MSME Rankings to now enable Indian MSMEs to compete effectively for awards as per their size and scale (micro, small, and medium) as well as sector (manufacturing or services), and have an opportunity to be recognised for their exceptional achievements in business and contributions to the country’s socio-economic growth.
ET MSME Awards: Categories and Criteria
The ET MSME Awards 2023 programme will be conducted in four phases: Call for Entry, Shortlisting and Documentation, Jury Round, and the Award Ceremony. Any Indian micro, small and medium scale enterprises as specified by the Ministry of MSME, Government of India, that meets the eligibility criteria for an award can apply under any of the five main award categories. Companies can also apply under multiple award categories.Broadly, the ET MSME Awards fall under five main categories: Overall Industry Awards, Awards by MSME Category, MSME Enabler Awards, Special Category Awards, Industry Focused Awards. Altogether, there are 26 awards under the five categories, and these enable companies across market sizes and sectors, be it manufacturing or services, to apply.A detailed list of the awards categories and the eligibility criteria for the ET MSME Awards 2023 are given below.1. OVERALL INDUSTRY AWARDS
Under the Overall Industry Awards category, there are three subcategories: Indian MSME of the Year Award (1 for manufacturing and 1 for services), Global Indian MSME of the Year Award (1 for manufacturing and 1 for services), and Top Exporter of the Year Award (1 for manufacturing and 1 for services).
- Indian MSME of the Year Award – The aim of this award category is to celebrate and recognise MSMEs that have shown business excellence in the fields of business growth, market performance, jobs created, impact on consumer and economy, and other socio-economic initiatives.
- Global Indian MSME of the Year Award – This awards aims to celebrate and recognise the effort of top Indian companies in the areas of international trade. Any MSME that has successfully expanded its business at the global level, or forayed into new markets, and is demonstrating global competitiveness is eligible to apply under this category.
- Top Exporter of the Year Award – This award is aimed at recognising the top Indian MSMEs involved in exporting of goods and services. Companies applying under this award category must have all required international certifications and must be a registered Indian business that qualifies as a MSME, as specified by the Ministry of MSME.
2. AWARDS BY MSME CATEGORY
There are three subcategories of awards, one each for micro, small and medium enterprise:
- India’s Top-Performing MSME of the Year Award – The award is aimed at recognising the achievements of MSMEs for their exceptional performance in terms of revenue, profit and returns
- India’s Fastest-growing MSME Award – This award aims to recognise MSMEs that have registered the fastest growth over the past year.
- India’s Top Innovative MSME of the Year Award – This award aims to recognise and celebrate MSMEs for disruptive innovations in their services, products or manufacturing.
3. MSME ENABLER AWARDS
The MSME Enabler Awards aims to recognise companies contributing to the growth of Indian MSMEs, focusing on various areas where MSMEs most need support, such as tech and innovation, and banking and financing. There are two awards under this: Indian MSME Enabler Award for Tech & Innovation and Indian MSME Enabler Award for Banking & Financing
- Indian MSME Enabler Award for Tech & Innovation – This award aims to celebrate and recognise the efforts of the organisations that have enabled MSMEs to adopt and adapt to the latest slew of innovation in tech and digital domains in the industry.
- Indian MSME Enabler Award for Banking & Financing – This award celebrates enterprises focused on enabling MSMEs with their banking and financing needs, by demonstrating exceptional contribution in driving financial awareness, improving MSMEs’ access to financing, developing products or solutions aimed at delivering better growth opportunities while simplifying financial access and process for MSMEs.
4. SPECIAL AWARD CATEGORIES
One of the latest additions to the ET MSME Awards, this award category focuses on recognising top women entrepreneurs, top listed SMEs and best CSR initiative by an SME.
- Top-performing Listed Indian SME – This award has been introduced to celebrate and recognise the top-performing SMEs listed on the BSE SME or NSE Emerge in the past year.
- Indian MSME Women Entrepreneur of the Year Award – This award has been introduced to celebrate the success of women entrepreneurs in micro, small and medium enterprises by recognising their contribution in manufacturing and services.
- Best CSR Initiative by an Indian SME – Focused on MSMEs’ contribution towards corporate social responsibility, this award aims to celebrate and recognise SMEs that have positively impacted the society by taking a strategic approach to CSR through a collaborative programme.
5. INDUSTRY FOCUSSED AWARD CATEGORIES
The Industry Focused Award Category has four awards focused entirely on recognising companies in various industries in the manufacturing space.
- Automobile & OEM MSME of the Year – This award aims to celebrate and recognise the MSME enterprises involved in manufacturing in the OEM (original equipment manufacturers) segment and automobile parts in India.
- Pharmaceutical & Healthcare MSME of the Year – This award focuses on recognising the top performing MSMEs in the pharmaceutical and healthcare domain. Any MSME in the healthcare sector that is working towards improving the manufacturing capabilities for medicines, medical devices, instruments and equipment used in this sector, including MSMEs focused on manufacturing innovative healthcare products and solutions, can apply to be recognised under this award category.
- Electrical & Electronics MSME of the Year – This award aims to recognise the achievements of MSME enterprises that have made significant contributions towards boosting the manufacturing and testing capacities of electronic components and assemblies or electrical equipment like household appliances, signalling lighting, etc in India. MSME enterprises working towards mass-manufacturing of new and innovative electrical and electronic products and solutions can apply.
- Clothing & Apparel MSME of the Year – Focused on the clothing and fashion industry, this award aims to celebrate and recognise the MSME enterprises that have recorded big achievements to help boost the manufacturing capacity of the clothing and apparel sector and made exceptional contributions towards making this sector self-reliant.
To register and know more about the ET MSME Awards, click here.