The Meghalaya Industrial Development Corporation Ltd (MIDC) was honoured on Friday 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).
MIDC was recognised at the event in 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 PK Sangma, MIDC Chairman. “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.”
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 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.
COSIDICI comprises state public sector undertakings from across the country that is involved in industrial and investment promotion activities.
