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Four Indian SMEs bag FedEx Business awards

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Preeti
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BANGALORE, INDIA: Four Small and Medium Enterprises (SME) from India, including a subsidiary of Biocon Ltd, have won the top awards at the FedEx International Business League awards.

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EMMBI Polyarns Ltd, a Mumbai-based Plastic Polymer Processing company, won the top award followed by Bangalore-based Syngene International Ltd, a subsidiary of Biocon Ltd., specializing in custom research and manufacturing with multidisciplinary skills in drug discovery and Surat-based diamond manufacturing firm Shree Ramakrishna Exports Pvt Ltd.

Aayushi Design Pvt Ltd, which specializes in making, trading and exports of gift articles and kitchen accessories also won an award.

EMMBI Polyarns makes FIBC (Jumbi Bags) and Woven Sacks and various woven Polymer- based products such as container liners, protective irrigation system, flexi tanks and car covers. Listed on BSE and NSE, it has customers in 30 countries on five continents and ranked as top three exporters in the products based on woven textiles.

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Indian companies were chosen from the list of over 300 qualified nominations, while a company each from Bangladesh and Sri Lanka made it to the two other positions.

 

The contest which involved a tough evaluation process with respect to their performances, Indian SMEs made into the finals in the 6-nation contest. Out of the 12 finalists, 10 sections grabbed the awards. FedEx opened its IBL contest for the first time to countries in neighborhood including Bangladesh, Sri Lanka, UAE, Bahrain and Kuwait.

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The finalists were chosen in three categories of the contest based on their turnover: USD 2.5 million to USD 25 million, USD 25 million to USD 70 million and USD 70 million to USD 150 million.

FedEx officials said Indian firms winning the contest after going through stringent scrutinized evaluation criteria speaks strongly about their growing strength despite global economic downturn. Undoubtedly, the awards are of great recognition, which boost morale of SMEs for their strength and growth.

Finch, VP sales, said, "the contest received an overwhelming response this year with the participation of over 300 qualified companies, mostly from India, which is three times bigger than the previous year. The growing strength of the SMEs reflects that they are most equipped to survive and develop in a downturn scenario because of their ability to explore new markets through innovation - unlike big firms who find it hard to reinvent themselves overnight, he said.

©CyberMedia News

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