Minister of state for MSME honours Sigachi

Bhanu Pratap Singh Verma, Minister of State for MSME, presented top 100 SME Award 2022 to Sigachi Industries in the recently concluded 9th edition of the India SME 100 Awards 2022. This recognition came as a result of the company’s unparalleled work on building world-class products and providing excellent services to customers worldwide, Sigachi notified in a statement.

Speaking in this regard, Amit Raj Sinha, MD and CEO, Sigachi, said in the statement, “Sigachi Industries is humbled and delighted to have been recognised for its ability to carve a niche for itself in this rapidly evolving space at a global level. We are also looking forward to further growth for the sector within India given the budget allocation for MSMEs nearly doubling this financial year to Rs 15,700 crores. The impetus added to incremental innovation in manufacturing and more so to the pharma industry – which is a stronghold of Hyderabad is undeniable.

“SMEs play a very important role in the India growth story and employ more than 40 per cent of India’s workforce. As an organisation, with our continued focus on enhanced performance with excellence for delivery, respect for environment, integrity for service and resourcefulness for growth, we hope to add a little more to the growth story for India as a global manufacturing hub and as contributors of more employment and skill requirement generators. We are extremely thankful to the India SME forum for this recognition of our hard work.”

Vinod Kumar, President, India SME Forum, also commented, “India has about 65 million SME companies offering an array of 6,000 products. These SMEs contribute actively towards the Indian economy and micro-economic growth for a given location through recruitment and their CSR activities. Statistics show that the SME sector contributes 6.11 per cent of the manufacturing GDP contributions, 24.63 per cent of the service sector GDP, 16 per cent of all bank lendings, 40 per cent of exports and 45 per cent of manufacturing output. It is indeed a commendable feat for Sigachi Industries to rank among the top 100 SME organisations from nominations of 37,134 SME companies under such a competitive environment and stringent evaluation criteria.”

The statement also said that Sigachi Industries is driving the India growth story in the Microcrystalline Cellulose industry with its continuous focus on innovation and quality within the industry. In 2021, the company has also successfully listed its IPO and received an outstanding response.

The Jury Board of the 9th Edition of India SME 100 Awards 2022 that laid down the stringent evaluation process and criteria comprised of eminent personalities like Dhanendra Kumar, IAS, Former Chairman, Competition Commission of India, Chairman of the Jury Board; Joginder Singh Joneja, Former CMD, National Small Industries Corporation, Vice Chairman of the Jury Board; Dr Aruna Sharma, IAS, Former Secretary to Government of India; Ramesh Abhishek, IAS, Former secretary DPIIT, and Independent Director – Cyient, Paytm Payments Bank, USIBC, Edelweiss WM, Paras Healthcare; Prahlad Kakar, Ad Guru, Chairman, India SME Forum; Dr Parveen Arora, Adviser and Scientist, Head – NCSTC, Ministry of Science & Technology; Tilak Raj Bajalia, Former DMD, SIDBI; Ajay Thakur, Head- BSE SME and Start-ups; Hemendra Mathur, Venture Partner, Bharat Innovation Fund; Professor (Dr) VK Ahuja, Vice Chancellor, National Law University and Judicial Academy, Assam; Nitin Wali, Regional Director, GoDaddy Registry India; Vinod Kumar Wuthoo, President, India SME Forum and Sushma Morthania, Co-founder and Director General, India SME Forum, the statement concluded.