Sun Pharmaceuticals founder Dilip Shanghvi receives the ‘Lifetime Achievement’ award from commerce minister Piyush Goyal at the IFBA 2022 on Saturday. (Image: Moneycontrol)
Commerce minister Piyush Goyal felicitated the winners of the Indian Family Business Awards 2022 and highlighted India’s rapid progress under the Narendra Modi-led government in the last nine years
Commerce minister Piyush Goyal on Saturday felicitated the winners of Moneycontrol’s Indian Family Business Awards 2022, where HCL Technologies chairperson Roshni Nadar Malhotra won the ‘Emerging Women Business Leader’ award and Sun Pharmaceuticals founder Dilip Shanghvi accepted the ‘Lifetime Achievement’ award in an emotional speech.
Goyal, in his keynote address, highlighted India’s progress in the last nine years under the Narendra Modi-led government and said the country was enjoying the fruits of its young demographic dividend. The awards ceremony acknowledged the excellence of aspiring family businesses in 17 categories.
The second edition of the prestigious event brought into the limelight the vital role played by family-owned businesses in nation building. This year’s list of awardees represented illustrious business leaders, who have made significant contributions to making India one of the world’s fastest growing economies.
Moneycontrol reported that family businesses in India have contributed to 70 percent of the GDP and employ at least 60 percent of the total workforce. These businesses incorporate modern practices while retaining their traditional networks and community ties.
The event also witnessed an engaging panel discussion on ‘Key trends in succession planning and family offices’ in which Soumya Rajan, founder and CEO of Waterfield Advisors Pvt Ltd, said: “The average investment of family businesses in private markets have risen from 1% in 2011 to around 12% now. India thrives on its family businesses. We believe that each family will steer India towards our dream of being a global superpower.”
Here is the list of winners at Indian Family Business Awards 2022:
Super Category
The ‘Most Innovative, Disruptive & Transformational Business’ award went to Tega Industries Ltd, while Apcotex Industries Ltd bagged the ‘Best Governance’ award.
In this category, the ‘Best Business Led by a Woman (JURY SELECT)’ award was won by Metro Brands while Borosil Ltd won the ‘Best Family Business’ award.
Mega Category
Century Plyboards (INDIA) Ltd won the award for being the ‘Most Innovative, Disruptive & Transformational’ family-run enterprise, while Route Mobile Ltd won for ‘Best Governance’. TVS Srichakra Ltd won the ‘Best Business Led by a Woman (JURY SELECT)’ award while Minda Corporation Ltd won the ‘Best Family Business’.
Giga Category
Havells India Ltd won the award for the ‘Most Innovative, Disruptive & Transformational family-run enterprise’ while GMR Airports Infrastructure Ltd won the ‘Best Governance (JURY SELECT)’ award. ‘Best Business Led by a Woman’ in the category was won by Thermax Ltd while Muthoot Finance Ltd bagged the ‘Best Family Business’ award.
Philanthropy
The Dholakia Foundation won the award in this category.
Jury Special
The ‘Most Enduring Business’ award went to Gujarat Tea Processors and Packers Ltd.
Editorial Special
Roshni Nadar Malhotra was awarded the ‘Emerging Women Business Leader’ award while Sudarshan Venu of TVS Motor Company was conferred the ‘Next-Gen Leader’ award.
Lifetime Achievement
Sun Pharmaceuticals founder Dilip Shanghvi was honoured with the ‘Lifetime Achievement’ award.