Industrialist Ratan Tata to be Conferred with Maharashtra’s First ‘Udyog Ratna’

29th July 2023: The Maharashtra government has decided to celebrate Ratan Tata, the Tata group’s former Chairman, with the inaugural Maharashtra Udyog Ratna Award. Uday Samant, the state industries minister, revealed this significant honour during a session of the State Legislative Assembly on Thursday.

Following in the footsteps of the Maharashtra Bhushan award, the highest state honour bestowed upon remarkable persons, the Maharashtra government has decided to institute the renowned Udyog Ratna Award beginning this year. Tata will be the first recipient of this honour.

Samant said, “Just like the Maharashtra Bhushan award, which is presented to distinguished persons, the state government has decided to confer the Udyog Ratna award to Ratan Tata.”

During the legislative council announcement, Samant said that the decision to confer the inaugural Udyog Ratna Award on an industrialist this year was decided in a meeting on Wednesday. Chief Minister Eknath Shinde, Deputy Chief Minister Devendra Fadnavis, and Deputy Chief Minister Ajit Pawar attended the meeting.

Samant further told the house, “In the meeting we decided to start conferring the Udyog Ratna award from this year. The first award will be conferred to Ratan Tata, chairman of Tata industries Group.”

Samant introduced the awards for young entrepreneurs, women entrepreneurs, and Marathi entrepreneurs in the state legislative council on Thursday.

The Maharashtra Udyog Ratna awards honour individuals and organisations that have made significant contributions to the fields of business, industry, education, real estate, tourism, financial services, fashion, electronics, agriculture, banking, information technology, foods, healthcare, and other fields in Maharashtra.

TCS became a publicly traded corporation under Ratan Tata’s leadership, and Tata Motors was listed on the New York Stock Exchange, garnering global recognition. During his 21-year stint as CEO of the Tata group, revenues increased by more than 40 times, while profits increased by more than 50 times.

Ratan Tata has received two of India’s most prestigious civilian honours, the Padma Vibhushan in 2008 and the Padma Bhushan in 2000, in addition to several other honours during his remarkable and impactful career.