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SMEs from India sweep FedEx Business League Awards

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Guangzhou: Small and Medium Enterprises from India virtually swept the third FedEx International Business League awards, in the 6-nation contest that involved tough evaluation process of their performances.

Indian SMEs stamped their dominance as FedEx opened its IBL contest for the first time to countries in neighborhood including Bangladesh, Sri Lanka, UAE, Bahrain and Kuwait.

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

The awards were presented at a gala function here that was attended by top FedEx officials: Elizabeth Finch - Vice President Sales, Middle East, Indian Subcontinent and Africa; David Canavan, Vice President Domestic Operations and Integration, India and Rakesh Shalia, Managing Director, Marketing, Middle East, Indian Subcontinent and Africa.

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. Indian firms secured top position in all the three categories.

The winning company receives free consultancy from a well known independent consultancy company to assist in growing their international business.

EMMBI Polyarns Ltd, a Mumbai based Plastic Polymer Processing company has won the number one ranking. It 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.

Others included Surat-based diamond manufacturing firm, Shree Ramakrishna Exports Pvt Ltd; Bangalore based Syngene International Ltd, a subsidiary of Biocon Ltd specialising in custom research and manufacturing with multi disciplinary skills in drug discovery and development.

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

Leeba Corporation, a Bangladesh based company and Tropical Findings (Pvt) Ltd, based in Sri Lanka, were the other winners.

FedEx officials said Indian firms winning the contest after going through stringent scrutinised evaluation criteria speaks strongly about their growing strength, and are posting strong growth rates despite global economic downturn.

Finch 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, Finch, who is based in Mumbai, told PTI.

Source: PTI
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