Last year, Business Today kicked off the Emerging Companies awards in the background of pessimism and despair. Economic growth had slowed down, the investment cycle had slumped, and poor decision making in the government was seriously hurting the India story bit by bit. The flip side of having to go through tough times is that they test the endurance of both organisations and individuals, and prepare them for bigger problems.
A year later, the scenario has completely changed. Last year's pessimism has now been replaced with hope and optimism. A historic victory in parliamentary elections by the Narendra Modi-led National Democratic Alliance has paved the way for possible economic reforms that can revive economic growth from less than five per cent in the last two financial years.
BT's endeavour this year is to handpick large- and mid-sized firms - lesser-known names and not listed on stock exchanges - that have successfully weathered the storms of the previous few years and have thrived in a challenging environment. YES Bank, our knowledge partner, and PwC India, the procedure reviewer, extended their support in our efforts.
FULL COVERAGE:India's Best Emerging Companies 2014
The list of winners is quite eclectic this time. There are companies from a variety of sectors - pharmaceuticals, gold retailing, processed foods and engineering.
The promises these companies hold are huge. We have captured their exciting journeys that can not only make smaller firms relate themselves to these gems but also help them in learning new things.
We can hope that the next step for these emerging companies will be to not rest on their past laurels but to move ahead with much greater force. But before doing that, it's time to raise a toast for them.