Four companies joined the billion dollar club in just a month’s time – Ranbaxy (9th march), Infosys (13th April), Wipro (16th April) and Bharati Televentures (23rd April). This was followed by Murugappa group, Bajaj Auto and Tata Power. Reliance Industries, TCS, Hero Honda, Tata Motors, Tisco, Nalco, and ICICI have already been the members of this elite club for some years now. While all PSUs in oil and gas sector have also crossed the US billion dollars mark, there are other companies from varied sectors – Grasim from cement, BHEL and L&T from Heavy engineering, a number of PSU banks, M&M and TVS Motors from auto sectors – who have joined the club as well.
Here are some other highlights for readers to digest:
- Reliance Industries’ net profit crossed one billion dollar mark.
- Auto components and then ‘made in India’ vehicles export in value terms crosses billion dollar mark.
- Tirupur knitwear export exceeds one billion dollar
Thse are some of the things that makes me and I think every Indian ‘feel good’. As I spent my whole life in manufacturing, the news of four companies getting the coveted ‘Deming’ prize in a single year (2003) was heartening. These companies are not very large in scale, but the achievement is very much significant. They are:
- Mahindra & Mahindra, Farm Equipment Sector- manufactures tractors.
- Brakes India Foundry Division – part of TVS group.
- Rane Brake Linings – a Rane group company manufacturing auto components like steering and suspension systems, seat belts, valves, etc.
- Sona Koyo Steering Systems – a company of Sona group in joint venture with Koyo of Japan..
It all started with Sundaram Clayton, Brakes Division in 1998 winning the Deming Application prize for the first time, followed by Sundaram Brake linings in 2001 and TVS Motor Company in 2002. But the winning of Deming prize by four Indian companies has shown that Indian industry is indeed maturing (or should I say, “shining” ). The Deming Prize is conducted and managed by JUSE (Japanese Union of Scientists and Engineers) and is perhaps the most respected prize of the world – almost attracting similar respect as one of Noble prize.
All these achievements are confirming that we can do it in every sector, and we can become the leader keeping all our humility. Indian companies are right on the course to achieve global excellence. More and more Indian companies will join this league in the very near future. I am confident.