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BW Businessworld

How We Did It

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The Businessworld International Business Awards 2012 seek to recognise excellence in global trade in various sectors. Consulting firm PricewaterhouseCoopers was the process advisor to Businessworld right from the stage of conception to the final selection of the winners. The awards have been instituted this year with the objective of recognising companies from different sectors that have excelled in the area of global trade during the three-year period since the global financial meltdown in 2008. The winners were selected from seven categories, including five sectors of the economy that account for nearly 25 per cent of India's exports, based on their performance between 2008-09 and 2010-11. The categories are as follows:



  • Auto and Engineering

  • Gems and Jewellery

  • Pharmaceuticals and Chemicals

  • Information Technology (IT) and Information Technology Enabled Services (ITeS)

  • Emerging Corporations (which have a turnover between Rs 500 crore and Rs 2,000 crore)

  • Best Trading House

  • Best CFO



These categories were chosen as they cover a vast section of the Indian economy and represent companies and people that have made an impact over the years in exports. As the first step, we defined the eligibility criterion within each of the categories. Then, the data for the companies' export turnover for the period of study was sourced from Ace  Equity, a corporate database. This data was validated, to the extent possible, from independent, publicly-available sources such as annual reports available on the companies' websites, balance sheets available on the Ministry of Corporate Affairs website, among other sources.

We also had meetings and discussions with relevant trade bodies and export promotion councils, which helped us garner their views on  prominent companies in the sectors, both on an overall basis and also specifically from the perspective of global trade. A questionnaire, covering qualitative as well as quantitative parameters, was administered to the top companies in each of these categories. It was open to all the companies in India, which met the eligibility criteria, to respond.

Based on the data collated from multiple sources, we sorted the nominees in order of the quantum of their export performance. Other parameters were also collated, such as export turnover growth, compound annual growth rate, export market (s) and key achievements for the period of analysis. For the CFO award, the survey questionnaire sought information on the company's revenue growth, market capitalisation, new customers or strategic acquisitions during the candidate's tenure besides the CFO's tenure with the organisation. The award was open to those applicants who had spent at least three years with the organisation as on
1 January, 2012.

External Panel Assessment
On an average, the top 10 companies in each category, based on the above-mentioned analysis, were then presented to an external jury. However, the top companies were not ranked in terms of qualitative factors, as this assessment was left to the subjective judgement of the jury. The panel deliberated on the data, the methodology and the list of nominees.

Additionally, qualitative factors such as the nature of the products exported, whether the exports were made to emerging markets or to mature markets, trend and consistency of performance and market perception were also considered by the jury as these factors are likely to have an impact on the sustainability of the export performance in the years to come. For the CFO award, the jury assessed the nominations on the qualitative parameters highlighted in the responses of the survey. 

The jury also gave weightage to the profile of the product for the award in the best trader's category. For emerging corporations, the nominees were assessed on qualitative innovation such as corporate social responsibility and green initiatives, among other things.

(This story was published in Businessworld Issue Dated 19-03-2012)


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