A consortium of seven leading Indian companies, including Tata Sons, TVS Motor Company and Sun Pharma, on Tuesday launched the Indian Foundation for Quality Management, a not-for-profit company with an aim to foster a culture of quality and innovation within Indian businesses.
Other members of the consortium are Motherson Group, Bharat Forge, Boeing India, and Biocon.
The initiative under the Indian Foundation for Quality Management aims to propel the 'Make in India' brand on the global stage, a statement by IFQM, a Section 8 not-for-profit company, said.
TVS Motor Company Chairman Emeritus Venu Srinivasan, who is the Chairman of IFQM, Tata Sons Chairman N Chandrasekaran, Sun Pharma Managing Director Dilip Shanghvi and Soumitra Bhattacharya, CEO, are the Board members of IFQM, it added.
IFQM said its governing council members, besides Srinivasan, Chandrasekaran, and Shanghvi, will include other industry leaders Kiran Mazumdar Shaw, Baba Kalyani, TV Narendran, Vivek Chaand Sehgal, Salil Gupte and KN Radhakrishnan.
"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," IFQM Chairman Venu Srinivasan said.
The 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. It aims to institutionalise a culture of quality within Indian organisations, the statement said.
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