New Delhi: Pawan Munjal-led Hero MotoCorp was conferred the ‘Indian MNC of the Year’ award by the All India Management Association (AIMA) on Thursday.
The award comes as the two-wheeler maker is set to enter the potentially lucrative markets of Brazil, Latin America’s largest two-wheeler market with annual sales in excess of two million units, and Mexico, which has a market size of more than half a million units per year.
“We are looking at launching our products in Brazil and Mexico soon,” Munjal said.
AIMA Managing India Awards 2017 was attended by railways minister Suresh Prabhu and minister of state for heavy industries and public enterprises Babul Supriyo. Awards were conferred in 15 different categories.
“Brand Hero has expanded to 35 countries spread across Asia, Africa and Central and South America in a very short span of time since charting its solo journey in 2011. We added Argentina, the second largest two-wheeler market in Latin America, to our international footprint in January this year, where we also unveiled the new Glamour motorcycle in our first global product launch,” Munjal said.
Hero MotoCorp, which sold more than 6.6 million two-wheelers in FY’17, is the only Indian two-wheeler company to have a manufacturing facility in Latin America. Hero’s manufacturing plant is situated in Vila Ricca, Colombia.
Hero is also set to open its second global manufacturing facility in Bangladesh later this year.
Arundhati Bhattacharya, chairperson, State Bank of India, the nation’s largest lender, was named business leader of the year. Dilip Shanghvi, managing director, Sun Pharmaceutical Industries Ltd, India’s largest drug maker, and Rahul Sharma, co-founder, Micromax Informatics Ltd, were conferred the ‘Entrepreneur of the Year’ and ‘Transformational Business Leader of the Year’ awards respectively. Nandan Nilekani, former chairman of the Unique Identification Authority of India, received the award for the ‘outstanding initiative of the year’ for India Stack.
Car market leader Maruti Suzuki was named ‘MNC in India of the Year’ and Coal India Ltd the ‘outstanding PSU of the year’.