Deming award is the topmost award conferred to the industries which exhibit excellence in business capabilities in terms of managing quality, cost, and competitiveness. This paper deals with the journey of the Indian industry for achieving the Deming award through the lens of new product development. The study reveals that competitiveness in terms of cost, quality, and innovation are the key drivers of new product development. New product development when integrates with the other cross functions themes of an organization creates a sense of togetherness. The process of NPD synergically vibrates with the other functions of the organization like quality assurance, sales and marketing, cost management, delivery, and HRM. These functions when managed holistically results in both tangible and intangible benefits. The tangible and intangible benefits involve a competitive product profile, improved market share, improved profitability, improved customer satisfaction, and improved sustainability.