Four TN Firms Make It to Potential 'Billion Dollar Babies' List

Four of Tamil Nadu’s companies have been judged as potential ‘Billion Dollar’ concerns by The Indus Entrepreneurs (TiE) Chennai. Not one of these four potential ‘big billion’ firms though, are from the state’s manufacturing sector.

Published: 14th October 2014 06:02 AM  |   Last Updated: 14th October 2014 07:38 AM   |  A+A-

V-Chandrasekar

CHENNAI: Four of Tamil Nadu’s companies have been judged as potential ‘Billion Dollar’ concerns by The Indus Entrepreneurs (TiE) Chennai. Not one of these four potential ‘big billion’ firms though, are from the state’s manufacturing sector.

Seeking to showcase Tamil Nadu’s success stories and their potential to become truly big players in the global industry, TiE Chennai’s ‘Billion Dollar Baby’ program announced four winners on Monday - Cross platform, global digital magazine store Magzter, Financial services major Financial Software Systems, water processing giant VA Tech Wabag and technology services company Congruent Solutions.

With the four companies showcasing the strength of the Services sector, manufacturing was conspicuously absent on the list. When asked, CEO and MD of ICICI Securities Anup Bagchi, one of the two jurors who selected the companies, said the spectrum of entrepreneurship was very broad in the state and that the absence of a manufacturing firm in the top four was only a coincidence. “I was quite happy with the spectrum of entrepreneurship in the city. But we did not see it through any particular lens when judging the companies. It is only a coincidence that there aren’t any manufacturing firms,” he said.

Chairman of the program committee of TiECon Chennai 2014 R Narayanan did admit that of the 12 companies that were shortlisted from the 50 nominations they received, only four were from the manufacturing

sector. “The conditions of the last few years have made it hard for manufacturing concerns to grow at the pace that the services sector has grown. This could be where the economy is headed,” he admitted. The four companies will be showcased at the TiECon Chennai 2014 conference which will begin from November 1.

Stay up to date on all the latest Tamil Nadu news with The New Indian Express App. Download now
(Get the news that matters from New Indian Express on WhatsApp. Click this link and hit 'Click to Subscribe'. Follow the instructions after that.)

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp