Business News | Indian Foundation for Quality Management (IFQM) Calls for Shared Partnerships to Achieve Quality Processes in the Industry

NewsVoir

New Delhi [India], October 16: The Indian Foundation for Quality Management (IFQM) has urged the Indian industry to create an ecosystem that makes 'Quality' the overarching differentiator of their business. Inaugurating the first symposium organised by IFQM in Delhi, Ashwini Vaishnaw, Minister for Railways, Information and Broadcasting, and Electronics & IT, said that 'Quality' is an important topic and can make a transformational difference in the country's journey to 'Viksit Bharat by 2047'.

Also Read | Elon Musk's X Struggles To Get More Premium Subscribers Onboard After Two Years of Takeover: Report.

"By 2047, we can become a developed nation. Viksit Bharat means an inclusive and harmonious society that has social and digital infrastructure in place, measurable parameters like $18,000 per capita income and 30 trillion nominal GDP by 2047. Growth has been achieved by many nations in the past by many countries. It needs a strong foundation, a very carefully thought-through strategy, meticulous execution and a process of development that is beyond elections," said Ashwini Vaishnaw, Minister for Railways, Information and Broadcasting, and Electronics & IT.

He also urged that IFQM develop a few courses that government employees could undertake through the E-Gov portal - iGot Karmayogi.

Also Read | 'Emergency' Release Date Update: Kangana Ranaut's Political Drama To Arrive in Theatres After Punjab Elections - Reports.

The 2-day IFQM symposium is attended by more than 180 CEOs and CXOs, academicians and students, highlighting the importance of quality in business processes as India strives to become an economic powerhouse. The speakers at the event highlighted the vital aspects of quality for the Indian industry, especially the micro, small, and medium enterprises (MSME), in the country's development.

In his opening remarks, Venu Srinivasan, Chairman IFQM and Chairman Emeritus, TVS Motor Company, highlighted that IFQM differs from a consultant model. It is more developed in the Indian Gurukul model, where the students and teachers live and learn together. "Quality begins with education and ends with education. The industry must understand that the competition now comes from other industries, not necessarily from one's own. IFQM, through a unique model, allows its members to visit their facilities and share their journey, as well as their weaknesses and strengths. It helps build a strong leadership," said Venu Srinivasan.

In his address, N Chandrasekaran, Chairman Tata Sons, pointed out that the opportunity in front of India is huge. India will do well in both manufacturing and services. To be a world leader in both, the fundamentals remain the same. "Creating the ecosystem requires quality product, service and human resources processes. We need to create a moment integrating all this to achieve the full potential of our country."

He also asked the industry leaders in India to come forward and participate in building Quality as a brand developed in India for the world by sharing their best practices. "We need to make interventions in people, processes, and the ecosystem," said N Chandrasekaran.

Soumitra Bhattacharya, CEO and Director, IFQM explained that the prupose of establishing IFQM is not about the small Q - establishing the quality of products and services. It is about the big Q - leadership transformation that could propel India to be recognised globally, that whatever India is a place to go for Quality of service and manufacturing.

Instituted in the year 2023, IFQM is the Indian Federation for Quality Management that is committed to the promotion of transformative changes across Indian industries. It seeks to institutionalise a culture of quality that meets and exceeds global standards. It is about bringing in continuous improvements of both products and services, thereby elevating the perception about Brand India. Committed to the prosperity and quality of life of all, IFQM functions as a catalyst in making Indian businesses globally respected with cooperative trust, respect, empathy, and mutual sharing. Through its initiatives, IFQM supports India's journey towards becoming a developed nation by 2047, with an emphasis on innovation, excellence, and stakeholder engagement across sectors.

IFQM is led by a Governing Council consisting of N Chandrasekaran, Chairman, Tata Sons, Dilip Shanghvi, MD, Sun Pharma, Kiran Mazumdar Shaw, Executive Chairperson, Biocon, TV Narendran, MD & CEO, Tata Steel, KN Radhakrishnan, CEO and Director, TVS Motor Company, Randhir Thakur, MD & CEO, Tata Electronics, Salil Gupte, President, Boeing India, SN Subrahmanyan, Chairman and MD of Larsen & Toubro, Venu Srinivasan, Chairman Emeritus, TVS Motor Company, Vivek Chaand Sehgal, Chairman and Co-founder, Motherson Group.

IFQM on Web: ifqm.org.in

IFQM Events: events.ifqm.org.in/symposium

IFQM on social media: www.linkedin.com/company/ifqm.

(ADVERTORIAL DISCLAIMER: The above press release has been provided by NewsVoir. ANI will not be responsible in any way for the content of the same)

(This is an unedited and auto-generated story from Syndicated News feed, LatestLY Staff may not have modified or edited the content body)