Vellayan Subbiah, Chairman of Cholamandalam Finance and Executive Vice Chairman of Tube Investments of India, has been awarded the EY Entrepreneur of the Year Award 2023 (EOY).

“The nine-member independent jury led by K V Kamath, Former Chairman of ICICI Bank, selected Vellayan Subbiah as the EOY 2023 winner for his bold strategies to transform existing businesses while seizing new opportunities through acquisitions and diversification, which not only helped him grow his group companies to unprecedented scale but also created four times increase in shareholder value in just three years,” EY said in a press statement.

Vellayan Subbiah will represent India at the EY World Entrepreneur of the Year Award (WEOY) in Monte Carlo from 4-7 June 2024.

Natarajan Chandrasekaran, Chairman of Tata Sons, was conferred the Special Jury Award for outstanding leadership of the Tata Group and contributions to nation-building. “His bold strategies of strengthening the core businesses, enabling group synergies, focusing on scale while creating a strong and empowered team have bolstered the Group’s market position and doubled its market capitalization from $170 billion to an astounding $365 billion,” EY said

The 2023 Lifetime Achievement Award winner, Venu Srinivasan, Chairman Emeritus of TVS Motor Company, was recognized for his decades of entrepreneurial excellence in revolutionizing the two-wheeler industry in India. “By exemplifying quality, innovation and sustainable practices, Venu Srinivasan has won several global and Indian awards including the prestigious Padma Shri and Padma Bhushan in 2010 and 2020 respectively,” EY added.

Reflecting on the winners’ achievements, Rajiv Memani, Chairman and CEO of EY India, said, “I extend my heartfelt congratulations to our esteemed winners and finalists of EOY 2023. They are true symbols of entrepreneurial excellence, who have transformed their businesses and created new markets where none existed. What distinguishes all of them is the scale, customer centricity and innovation with which they have built their businesses.”