Lakshmi Machine Works wins CII’s ‘The Most Innovative Company of the year 2020’ Award
29 December 2020: Lakshmi Machine Works Ltd, Textile machinery Division, won the CII’s Industrial Innovation Awards 2020. The award was presented by Professor Ashutosh Sharma, Secretary-DST and Kris Gopalakrishnan, Past President, CII on 10 December, 2020 through a virtual event.
Founded in 1962, Lakshmi Machine Works (LMW) began its journey by manufacturing textile machinery for textile spinning. LMW has been consistently at the forefront of technological advancements in textile machinery. LMW has a major role as a totally integrated spinning system manufacturer.
CII Industrial Innovation Awards were instituted in 2014 to identify and celebrate innovative Indian enterprises across industry segments and sectors. The Awards give an opportunity to companies to shine and be known nationally and internationally for their innovative products and services. In the last five consecutive years, these awards have established themselves as one of the most coveted innovation awards in the country.
The Awards evaluate all kinds of new processes, products, services, technologies, and other types of innovations which have the ability to fuel growth in industry. They also assess new ideas and approaches along with tangible results. Over the years, CII has formulated an Enterprise Innovation Maturity Framework which forms the basis of assessment of firms applying for CII Industrial Innovation Awards.