Renowned industrialist Ratan Tata was bestowed with the first ever ‘Udyog Ratna’ award established by the Maharashtra government on Saturday.

The award was presented to the 85-year-old Chairman Emeritus of Tata Sons at his residence in Colaba, south Mumbai, by Chief Minister Eknath Shinde, along with Deputy Chief Ministers Devendra Fadnavis and Ajit Pawar. This recognition comprised a shawl, a citation, and a memento from the Maharashtra Industrial Development Corporation (MIDC).

Following the presentation, Shinde stated that honouring Tata as the ‘Udyog Ratna’ has
elevated the prestige of the award. “The Tata group’s contribution in all sectors is
immense. Tata signifies trust,” he remarked.

The Tata Group, spanning from steel to salt, operates in over 100 countries across six
continents. In the fiscal year 2021-22, the combined revenue of Tata companies
amounted to $128 billion.
India is set to present its economic growth achievements to global CEOs participating
in the three-day B20 summit starting from August 25. Prime Minister Narendra Modi is
expected to join these international business leaders during the concluding session of
the B20 Summit on August 27. The Business 20 (B20) serves as the official G20
dialogue platform involving the worldwide business community. Established in 2010,
the B20 stands out as one of the most prominent engagement groups within the G20
framework, featuring participation from companies and business organisations.

Every year, the G20 Presidency designates a B20 Chair, typically an influential business
leader from the host country of the G20 summit. This Chair is supported by a B20 Sherpa
and the B20 secretariat. For the B20 India, Tata Sons Chairman N Chandrasekaran holds
the position of Chair.