India Foundation For Quality Management (IFQM) will work as a catalyst to foster quality and innovation within Indian businesses
IFQM will endeavour to connect Indian business leaders to renowned global experts for personalised guidance and facilitate knowledge sharing & collaboration among industry leaders.
Mumbai, NFAPost: In a bold move to address a critical challenge, a consortium of seven leading Indian companies have launched the Indian Foundation for Quality Management (IFQM), a Section 8 not-for-profit company. IFQM is a unique institute dedicated to fostering a culture of quality and innovation within Indian businesses.
The initiative, spearheaded by India Inc. viz. Tata Sons, TVS Motor Company, Sun Pharma, Motherson Group, Bharat Forge, Boeing India, and Biocon aims to propel the “Make in India” brand on the global stage.
IFQM will endeavour to equip business leaders with the latest knowledge and tools in quality management, connecting them to renowned global experts for personalised guidance, and facilitating knowledge sharing and collaboration among industry leaders. IFQM will provide support to organisations with specialized quality counsellors and bridge the gap between industry and academia to ensure access to cutting-edge research and insights.
TVS Motor Company Chairman Emeritus and IFQM Chairman Venu Srinivasan, Tata Sons Chairman N Chandrasekaran, Sun Pharma Managing Director Dilip Shanghvi and IFQM CEO Soumitra Bhattacharya are the Board members of IFQM.
IFQM Chairman Venu Srinivasan said IFQM has the potential to be a game-changer for Indian Industry by creating a culture of best practice sharing and cross-learning on quality and innovation.
“We can thus unlock our true potential and compete head-on with the best in the world,” said IFQM Chairman Venu Srinivasan.
IFQM’s governing council members besides Venu Srinivasan, N Chandrasekaran and Dilip Shanghvi will include Biocon Limited Founder and Executive Chairperson Kiran Mazumdar Shaw, Bharat Forge Chairman and Managing Director Baba Kalyani, Tata Steel Global CEO and Managing Director T V Narendran, Samvardhana Motherson Group Chairman and Cofounder Vivek Chaand Sehgal, Boeing India President Salil Gupte and TVS Motor Board of Directors & CEO K N Radhakrishnan.
Sun Pharma Managing Director Dilip Shanghvi, Biocon Limited Founder and Executive Chairperson Kiran Mazumdar Shaw and TVS Motor Board of Directors & CEO K N Radhakrishnan
These founding members will be actively involved in IFQM’s governance ensuring its programmes are tailored to the specific needs of Indian businesses. IFQM is designed to provide senior leadership in India with targeted counselling, training, coaching, and expert guidance. IFQM aims to institutionalize a culture of Quality within Indian organisations.
Sun Pharma Managing Director Dilip Shanghvi, Biocon Limited Founder and Executive Chairperson Kiran Mazumdar Shaw and TVS Motor Board of Directors & CEO K N Radhakrishnan attended the event virtually.
The one-of-its-kind industry-led initiative will help improve the product and service quality and reliability of Indian businesses equipping them to compete more effectively on the global stage and build supply chain resilience. The aim is to reinforce the “Made in India” brand in international markets, thereby stimulating trade expansion. Enhanced competitiveness will lead to economic growth and overall prosperity for the people of India.
