CII recognizes Top 25 Innovative Companies 2018


Research and Innovation is the way ahead for India to become the knowledge power and an innovative nation in the global community and all the stakeholders need to work hand in hand to create a great impact” says Dr Arabinda Mitra, Scientific Secretary, Office of the Principal Scientific Advisor to Government of India.

Innovation has been recognized as an engine of socio-economic growth and wellbeing worldwide. Apart from playing an important role in the priority areas such as Robotics, Energy & Power, Manufacturing, IT and Telecom etc., innovation also addresses critical needs in the social sector.

CII launched Industrial Innovation Awards in the year 2014. The purpose of this Award was to encourage industry to adopt a structured Innovation Framework in their operations and measure their performance periodically on the way to moving up the Innovation Value Chain. The Framework has been widely appreciated by the industry and the number of applications for this coveted award has been increasing year by year.

These Awards have been instrumental in encouraging and recognizing innovation excellence and business growth without being specific about the nature of innovation and industry segment. The process for determining the category awards and the list of top 25 innovative companies, used structured six stages starting with the visit by an assessor to the applicants’ place of operations. The Awards evaluated innovations in new processes, products and delivery of services, those have the ability to fuel growth within the industry. The assessment process measured the innovation culture, innovation management, inputs to innovation and results of innovation in an organization.

In a glittering awards ceremony hosted by Confederation of Indian Industry, the apex industry body, recognized top 25 companies across large, medium and small segments to be the most innovative for the year 2018.

While presenting the awards Dr. Mitra said that “Spearheading the whole culture of innovation and entrepreneurship is a National Mission which can be achieved through seamless collaboration between government, industry and R&D. He further mentioned that for India to become the S&T prowess and knowledge economy in the 21st century, there is a need to integrate three triads i.e.knowledge generation- research, knowledge dissemination- education, and knowledge application- innovation in a seamless manner. Over the past few years, Government of India has taken several initiatives like STI policy of 2013, Technology Development Board, BIRAC, GITA, NIDHI (National Initiative for Development and Harnessing Innovations), IMPRINT, Uchhatar Avishkar Yojana and PM fellowship. He also mentioned other government initiatives like AGNIi; Knowledge clusters and; I-STEM, enable seamless virtual connect between institutions for effective networking. Going forward, favourable policies and program paradigms would encourage private sector investment in R&D. Government is pushing direct funding of industry led R&D projects with 50:50 model, promoting close collaboration of industry with academia and national labs for knowledge and infrastructure sharing, mandating a minimum percentage of industrial revenue in R&D investment sectorally, encouraging investment of a by other non-scientific ministries and states in R&D, so that there is a paradigm change in the landscape of innovation culture in our country.

As part of Industries push to promote industrial innovation, Mr Rajan Navani, Chairman, CII Council on Future Business mentioned that today companies are in a process of continuous innovation with new products, new services, new markets and new business models. He further mentioned that “without the box thinking” is gaining momentum and creating a culture of continuous innovation and revolutionizing industry for future growth.

2018 Awards Winners are:

The Most Innovative Company 2018 – Mahindra & Mahindra Ltd.

Top Innovative Company (Medium) in Manufacturing – PTC Industries

Top Innovative Company (Small) in Manufacturing –  Stellapps Technologies Pvt. Ltd.

Top Innovative Company (Large) in Services – Indus Towers

Top Innovative Company (Medium) in Services – BARC India

Top Innovative Company (Small) in Services – Kale Logistics Solutions & Truckhall Pvt. Ltd.

Other companies who secured position in Top 25 Most Innovative companies are:

Access Healthcare Services Pvt. Ltd.

Agzon Agro Pvt. Ltd.

Apex Laboratories Pvt. Ltd.

Apollo Tele Health Services Pvt. Ltd.

Bharat Fritz Werner Pvt. Ltd.

Creintors Teknosol Pvt. Ltd.

Delhi International Airport Ltd.

Dow Chemical International Pvt. Ltd.

Ethosh Designs Pvt. Ltd.

Hindustan Petroleum Corporation Ltd.

Neogi Technologies and Research Pvt. Ltd.

Power Grid Corporation of India Ltd.

Resil Chemicals Pvt. Ltd.

Siemens Ltd. (Power and Gas Division)

Stempeutics Research Pvt. Ltd.

Vyome Biosciences Pvt. Ltd.

Wendt (India) Ltd.

Zydex Industries

Grand Jury for CII Industrial Innovation Awards 2018


Mr. S Gopalakrishnan, Chairman – CII Start Up Council 2018 -19: & Co-founder Infosys, Chairman Axilor Ventures

Prof. Devang Khakhar, Director, Indian Institute of Technology Bombay

Prof. Manoj Panda, Director, Institute of Economic Growth, Delhi

Dr. Pronab Sen, Country Director, IGC’s India Central Programme

Mr Rajan Navani, Chairman, CII Council on Future Businesses 2018-19

Prof. Rishikesha T. Krishnan, Director, Indian Institute of Management, Indore

Prof. Soumitra Dutta, Founding Dean, Cornell SC Johnson College of Business at Cornell University

Prof. Tarun Khanna, Jorge Paulo Lemann Professor, Harvard Business School, Director, Lakshmi Mittal and Family South Asia Institute, Harvard University

Dr. V. Ramgopal Rao, Director, Indian Institute of Technology Delhi

Mr. Venkatesh Valluri, Chairman, Valluri Technology Accelerators

Prof. Y S Rajan, Board of Governing Council, National Institute of Technology, Manipur

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