Today, Time Inc. (NYSE:TIME) named 18 companies as the finalists for the second annual TIME India Awards at the World Economic Forum in Davos, Switzerland. McKinsey & Company is the knowledge partner on this project.

Time Inc. Vice Chairman Norman Pearlstine will announce the winners at a ceremony in Andhra Pradesh on January 27 at the Confederation of India Industry’s Partnership Summit.

The finalists were selected from a pool of 15,000 manufacturing companies after a rigorous evaluation of qualitative and quantitative parameters.

Time Inc. announced the Time India Awards finalists at a special panel discussion event, “The Digitization of India,” in Davos today at the Steigenberger Grandhotel Belvédère. The conversation explored the opportunities and challenges that digital disruption brings for India—one of the worlds fastest-growing economies. Time Inc. Chief Content Officer and Fortune Editor-in-Chief Alan Murray moderated the panel, which included Andhra Pradesh Chief Minister N Chandrababu Naidu; India’s Department of Industrial Policy and Promotion Secretary Ramesh Abhishek, McKinsey & Company’s Asia Chairman Kevin Sneader and Tata Steel’s T V Narendran.

Alongside prizes for the Manufacturing Innovator of the Year and the Global Manufacturer of the Year, the 2017 TIME India Awards will recognize the country’s most exciting small and medium-sized businesses and startups. The 18 finalists were named across six total categories. This year’s awards have expanded in size and scope from the inaugural TIME India Awards in 2016, which had nine finalists across three categories.

“The finalists for the second TIME India Awards represent real innovation in manufacturing and are making a significant impact on the Indian economy, with products that benefit the world,” said Pearlstine. “The Confederation of India Industry’s Partnership Summit is one of India’s most prominent international business events and promotes discussion and collaboration around global economic growth. This event is an ideal forum for this year’s awards.”

The judges are: General Electric Vice Chairman John Rice; Infosys Founder N.R. Narayana Murthy; ICICI Bank Managing Director and Chief Executive Officer Chanda Kochhar; Clay Chandler, Time Inc. Executive Editor, International; and McKinsey & Co. Chairman, Asia Kevin Sneader. Pearlstine will chair the jury.

Rajat Dhawan, senior partner, McKinsey & Company said, “Alongside exhibiting overall competitiveness and pursuing innovation, shortlisted companies stand out for at least one zing factor – either their remarkable export orientation, pioneering adoption of Industry 4.0, focus on sustainable manufacturing, or attempts to solve a societal problem."

The 2016 TIME India Awards were held at the "Make in India" summit in Mumbai on Feb. 13, with TATA Steel winning the prize for Best in Class Manufacturing. Hero MotoCorp was named the Manufacturing Innovator of the Year, and Yogesh and Rajesh Agrawal, joint managing directors of Ajanta Pharma, received the Young Makers of the Year Award.

The finalists for the 2017 TIME India Awards:

TIME India Innovator of the Year
Amara Raja Batteries
Hindustan Unilever
Mahindra & Mahindra

TIME India Global Manufacturer of the Year
Bharat Forge
Shahi Exports
Zydus Cadila

TIME India MSME Innovator of the Year
Advance Enzyme Technologies
Phoenix Medical Systems
PTC Industries

TIME India MSME Manufacturer of the Year
KHS Machinery
Paragon Apparels
Rangsons Electronics

TIME India Startup Innovator of the Year
Barrix Agro Sciences
E-Spin Nanotech
Versa Drives

TIME India Startup Sustainability Pioneer of the Year
Ananya Seeds
Greenway Grameen Infra
Swasti Agro & Bioproducts

ABOUT TIME INC.

Time Inc. (NYSE:TIME) is a leading content company that engages over 150 million consumers every month through our portfolio of premium brands across platforms. By combining our distinctive content with our proprietary data and people-based targeting, we offer highly differentiated end-to-end solutions to marketers across the multimedia landscape. Our influential brands include People, Time, Fortune, Sports Illustrated, InStyle, Real Simple and Southern Living, as well as more than 50 diverse titles in the United Kingdom. Time Inc. has been extending the power of our brands through various acquisitions and investments, including Viant, an advertising technology firm with a specialized people-based marketing platform; The Foundry, Time Inc.’s creative lab and content studio; and the People Entertainment Weekly Network (PEN). The company is also home to celebrated events, such as the Time 100, Fortune Most Powerful Women, People’s Sexiest Man Alive, Sports Illustrated’s Sportsperson of the Year, the Essence Festival and the Food & Wine Classic in Aspen.

About McKinsey & Company

McKinsey & Company is a management-consulting firm that helps leading corporations and organizations make distinctive, lasting and substantial improvements in their performance. Over the past eight decades, the Firm’s primary objective has remained constant: to serve as an organization’s most trusted external advisor on critical issues facing senior management. With consultants deployed from over 109 locations in 61 countries, McKinsey advises companies on strategic, operational, organizational and technological issues. The Firm has extensive experience in all major industry sectors and primary functional areas as well as in-depth expertise in high-priority areas for today’s business leaders.