MIDC bags National Award for outstanding performance

Syllad | The Rising MeghalayaDecember 9, 2024

The Meghalaya Industrial Development Corporation Ltd. (MIDC) was honoured on December 6  with a National Award for Outstanding Performance at the 10th National Awards function of the Council of State Industrial Development & Investment Corporations of India (COSIDICI).

The MIDC was recognised at the event, held at the Auditorium of the College of Veterinary Science, Assam Agricultural University, Guwahati, for its successful turnaround strategy, which emphasised financial stringency, operational efficiency, and the promotion of industrial growth.

“In the past year and a half, we have made significant efforts to ensure that MIDC not only becomes financially viable but also sets quality benchmarks as an industrial and investment corporation,” said James P.K. Sangma, Hon’ble Chairman of MIDC, who also presided as the Guest of Honour at the event.

“Today’s award is a recognition of the series of strategic initiatives we have implemented, including prudent financial practices, stringent compliance measures, collective team brainstorming, and the establishment of guidelines for smooth operational workflows,” he added.

Earlier this year, MIDC became the only corporation from Meghalaya to earn ISO certifications for quality and sustainability, achieving ISO 9001:2015 and ISO 14001:2015 certifications.

The Corporation has also been instrumental in bringing significant investments to Meghalaya, including a nearly Rs 200 crore investment by M/s Varun Beverages Ltd, which is one of the largest bottling units of PepsiCo in the world. 

Hans Raj Verma, COSIDICI’s Director General and former IAS officer, commended MIDC’s dedication, stating that the Corporation has set a remarkable example for other State Industrial Development and Investment Corporations with its innovative approach, commitment to inclusive development, and focus on sustainability.

The event was also graced by the presence of Ajanta Neog, Hon’ble Finance Minister of the Government of Assam, along with other distinguished officers and dignitaries from across the country involved in various State-Level Financial Institutions (SLFIs) and industrial promotion efforts.

The COSIDICI National Awards have become a benchmark of excellence, recognising organisations that have made significant strides in supporting MSMEs and advancing industrial growth.

COSIDICI comprises state public sector undertakings from across the country that are involved in industrial and investment promotion activities.