Indian companies set up Foundation for Quality Management

Seven leading Indian companies have established the Indian Foundation for Quality Management (IFQM), registered as a non-profit organisation. The main objective of IFQM is to promote a culture of quality and innovation in Indian business. The initiative aims to promote the "Make in India" brand in the global market.

IFQM will provide business leaders with the latest knowledge and tools in quality management and connect them with global experts.

It will also facilitate knowledge sharing and collaboration among industry leaders. IFQM will support organisations by providing them with specialised quality consultants. It will also facilitate interaction between industry and academia to share cutting-edge research and knowledge. This is reported by ANI, a partner of TV BRICS.

IFQM chairman, Venu Srinivasan, says that IFQM has the potential to be a game changer for Indian industry by creating a culture of excellence and cross-learning in quality and innovation. He adds that by doing so, Indian businesses will be able to unlock their true potential and compete with the best global enterprises.

This industry initiative will help improve the quality of products and services as well as the reliability of Indian businesses, making them more competitive on the global stage and strengthening the 'Made in India' brand in international markets. This, in turn, fuels increased trade and leads to economic growth and prosperity in India.

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