Frost & Sullivan, a global growth consulting company, hosted its 2007 Chemicals, Materials and Foods Awards Banquet, the first of its kind for the industry in India, at Mumbai.
Based on detailed end-user research and customer feedback on various parameters, 13 award titles were presented to companies in recognition for their pioneering efforts with regards to their product lines, innovative distribution strategies, customer service plus support par excellence, outstanding contribution to the industry or for achieving a competitive position in the Indian Chemicals, Materials and Food (CMF) industry.
Speaking on the CMF Industry, Anand Rangachary, Managing Director, Frost & Sullivan, South Asia and Middle East feels that, "The rapidly expanding Indian Chemicals market offers plenty of opportunities to existing players as well as entrants. Many multinationals are making efforts to increase their footprint in the $38-40 Billion Chemicals Industry, which is currently growing at about 10-12 percent per annum. Going through a typical metamorphosis of a developing country, the paints industry is the fastest growing sector with a CAGR of approximately 14-15 percent. The Indian Foods Industry, being a relatively late starter, has one of the lowest rates of food processing globally. The situation is however changing with a growing urban population, higher disposable incomes and the emergence of a cold chain being some of the driving factors. The strong growth of end-user industries such as automotive, healthcare, construction, textiles and leather is expected to increase the demand and consumption of related chemicals. India is expected to become one of the world's top consumers of plastics and synthetics by the year 2010."
According to Mamta Wadhwa, Director, Chemicals, Materials and Food Practice, Frost & Sullivan, South Asia and Middle East, "One of the main aims for Frost & Sullivan is to bring forth outstanding industry achievements and best practices through these awards. Our industry experts recognise the diligence and innovation required to implement a successful business plan and excel in the increasingly competitive global market place. It is always one of the highlights of our calendar year to take an evening out and celebrate the excellent work of industry players. This is a forum where we identify the best-in-class products, services and strategies, an outcome of the ongoing research and analysis done by the Frost & Sullivan team."
Frost & Sullivan followed a rigorous methodology for selecting the Award Recipients. Detailed interviews with key decision makers (drawn from relevant functional departments) from various industry segments across the chemicals industry were conducted. These interviews were executed across various locations in India using questionnaires. Respondents assigned ratings, thereby reflecting their feedback on various attributes within a given criterion. Weightages were assigned to different criteria based on their perceived importance. Winners within a category were selected using powerful statistical analysis to compare the aggregated scores on attributes and rank assigned to different brands for relative position.
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Nutraceuticals
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Brand Strategy Leadership Award Market Leadership Award
Pfizer Ltd. Dabur Foods Ltd.
Elder Pharmaceuticals Ltd.
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Product Line Leadership Award Market Penetration Leadership
Award
Amul
Mahaan Proteins Ltd.
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Chemicals & Materials
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Market Leadership Award Market Penetration Leadership
Award
Baerlocher India Additives Pvt.
Ltd. BASF Construction Chemicals
(India) Pvt. Ltd.
Fosroc Chemicals (India) Pvt. Ltd.
Kansai Nerolac Paints Ltd.
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Competitive Strategy Leadership Brand Development Strategy
Award Leadership Award
Pidilite Industries Ltd.
Pidilite Industries Ltd.
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Technology Innovation Award Technology Leadership Award
Ciba Specialty Chemicals Ltd. Kirloskar Corrocoat Pvt. Ltd.
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About Frost & Sullivan
Frost & Sullivan, the Growth Consulting Company, partners with clients to accelerate their growth. The company's Growth Partnership Services, Growth Consulting and Career Best Practices empower clients to create a growth focused culture that generates, evaluates and implements effective growth strategies. Frost & Sullivan employs over 40 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 30 offices on six continents. For more information about Frost & Sullivan's Growth Partnerships, visit http://www.frost.com.
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