On 27 January 2017, Time Inc. announced the winners of the Second Annual TIME India Awards, at the Confederation of Indian Industry (CII) Partnership Summit, in Andhra Pradesh, India.
The Indian Minister of Finance, Arun Jaitley, Minister of State for Commerce and Industry, Nirmala Sitharaman, and Andhra Pradesh Chief Minister, N. Chandrababu Naidu, presented the awards. McKinsey & Company was the knowledge partner for the awards.The 2017 TIME India Awards recognized the country’s most exciting startups and small and medium-sized businesses.
Phoenix Medical Systems was the winner of the MSME Innovator for the Year award, which was received by the Managing Director, V. Sashi Kumar, and Executive Director, Smita Sashikumar. The winners of the awards were selected among 18 finalists, who were identified from a pool of approximately 15,000 manufacturing companies after an assessment of their qualitative and quantitative parameters. The finalists were announced at the World Economic Forum at Davos, Switzerland, in January 2017.
A jury of key business magnates led by Vice Chairman of Time Inc., Norman Pearlstine, selected the winners of the Time India Awards in each category. The panel included General Electric Vice Chairman, John Rice; Infosys Founder, N.R. Narayana Murthy; ICICI Bank Managing Director and Chief Executive Officer, Chanda Kochhar; Time Inc. Executive Editor, International, Clay Chandler; and McKinsey & Company Chairman (Asia), Kevin Sneader.