Mumbai: The Indo-American Chamber of Commerce (IACC) bestowed a lifetime achievement award to Indian business icon Ratan Tata, as part of their recent global leadership awards. Tata, who grew the revenues for India’s largest conglomerate, The Tata Group to nearly a $100 billion by 2011-12, remains an influential industrialist, philanthropist and humanitarian to the day.
The IACC leadership bestowed the IACC Lifetime and Global Excellence Awards to Tata at a closed-door meeting, owing to ongoing COVID crisis. Tata, who has accepted fewer awards over the last few years, received the honour as he believed that these awards inspire future global leaders and strengthen bilateral economic ties between India and the USA. They do so by fostering a sense of achievement and cooperation and highlighting leaders and go-getters from both Indian and American businesses.
“We believe Mr Tata was the first Indian to recognise and tap the potential of the US market. Under his leadership, the TATA group had transformed into the largest Indian employer in the USA in a matter of three decades”, said Naushad Panjwani, Regional President, West India Council, IACC.
The Group is deeply entrenched in multiple industries globally, from heavy steel (TATA Steel), automobiles (TATA Motors), ITES (TATA Consultancy Services), among others. After he retired from the helm of the Group, Ratan Tata remains an influential mentor to multiple Indian start-ups.
Mr Tata is also known for a sense of philanthropy, which he built into all businesses within the Tata Group and his individual pursuits. The Group has established many research, educational and cultural institutions. For these endeavours, it has also received the Carnegie Medal of Philanthropy.
Meanwhile, the man has actively supported endeavours in medicine, education and rural development. Specifically, he is acknowledged for his work with the Faculty of Engineering at the University of New South Wales to develop capacitive de-ionisation to improve the quality of water in areas facing challenges in the water supply.
He has been acknowledged as Padma Bhushan and Padma Vibhushan by the Indian government, alongside knighthood and similar honours from the British Empire, Japan and France. He also holds honorary citizenship in Singapore and has been acknowledged for lifetime contributions by the Indian National Academy of Engineering and Ernst & Young.