The Economic Times Awards for Corporate Excellence was presented to Tata Steel for the Company of the Year 2001.

The objective of the awards is to recognise achievement, not just in terms of numbers but on a much broader canvas. The awards seek to honour those who have:

• Dared to dream big and influenced the way we think and work
• Challenged established paradigms, made a fundamental difference to the way business is done
• Set benchmarks in excellence, ethical standards and corporate governance
• Achieved global standards in quality and competitiveness
• Made dramatic turnarounds in the face of enormous odds
• Created and distributed wealth

While Tata Steel qualified for the final 3 on the basis of its impressive financial numbers – what really moved the jury was the turnaround story of a corporate giant. It is the story of how the company has managed to shed weight, cut costs and increase efficiency to a point where it is now one of the lowest-cost producers of steel in the world.