OREANDA-NEWS. January 24, 2012. The Golden Peacock Innovative Product / Service Award 2011 was presented to Ramanathan Ramanan, managing director and chief executive officer, CMC, by Ola Ullsten, former Prime Minister of Sweden and co-chair, World Commission on Forests and Sustainable Development; Baroness Sandip Verma, Lords Minister for Business, Innovation and Skills (Higher Education) and Equalities and Women and the Whip for the Cabinet Office, British Government; and Lt Gen JS Ahluwalia, PVSM (retd), president, Institute of Directors. The award ceremony was held at the 22nd World Congress on Total Quality, on Saturday, January 21, 2012, in Bengaluru, India, in the presence of a distinguished gathering of business leaders, jurists, academics, environmentalists, economists, legislators and policy makers.

The Golden Peacock Awards is a set of prestigious national and global awards designed to improve productivity and quality in organisations. The Golden Peacock Awards are considered the greatest recognition of corporate excellence in the areas of innovation, quality, training, governance, environment management and corporate social responsibility. The Golden Peacock Innovative Product / Services Award, named after India's national bird the peacock, is awarded every year to the most innovative product as determined by the satisfaction of customers' long-term unexpressed and unarticulated needs and aspirations in a most cost-effective manner, which is consistent with society's goal of sustainable development. The award was won by CMC's Genesys Configurator, which is powering a large number of general insurance companies in India.