The Institute of Cost Accountants of India as a part of its prime responsibility towards achieving cost competitiveness for sustainable economic growth is continuously making pioneer efforts to promote, recognize and reward cost management culture and practice in the corporate sector.
S Suresh, Member (Finance), Airports Authority of India and Chairman, Screening Committee of 14th National Awards for Excellence Cost Management – 2016 of the Institute expressed that the participation of Indian Industry in the National Awards indicates positive efforts undertaken by the industry towards cost management and achieving cost competitiveness.
CMA Manas Kumar Thakur, President of the Institute narrated the history of this award ceremony that this National Awards for Excellence in Cost Management was introduced by the Institute in the year 2003 to recognize the qualitative cost management practices adopted by the industry and encourage corporate sector to get due national and global recognition for the Cost Management initiatives, they follow. An eminent panel of Jury members selects the award winners every year.
The Institute has always encouraged with wider applications of Cost Management tools and adoption of different Cost Management strategies across various sectors.
S Suresh and Manas Kumar Thakur urged all the sectors from Manufacturing to Service Sector to participate at large so that the culture of best Cost Management practices becomes an integral part of an organization.