Ratan Tata to be felicitated by Maharashtra’s first Udyog Ratna Award

The Maharashtra government has decided to honour Ratan Tata, the Chairman emeritus of the Tata group, with the first esteemed Maharashtra Udyog Ratna Award. This significant recognition was announced by the state industries minister, Uday Samant, during a session at the State Legislative Assembly on Thursday.

Following the tradition of the Maharashtra Bhushan award, which is the highest state honor presented to distinguished individuals, the Maharashtra government has taken the decision to introduce the prestigious Udyog Ratna Award starting this year. Tata will be the inaugural recipient of this award. The announcement was made on Wednesday by the state government.

"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," Samant said on Thursday.

During the announcement in the legislative council, Samant revealed that the choice to bestow the inaugural Udyog Ratna Award upon an industrialist this year was made in a meeting on Wednesday. The meeting involved Chief Minister Eknath Shinde, Deputy CM Devendra Fadnavis, and Deputy CM Ajit Pawar.

“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 told the House.

Awards for young entrepreneur, woman entrepreneur and Marathi entrepreneur will also be given, Samant announced in the state legislative council on Thursday.

The Maharashtra Udyog Ratna awards are aimed at recognising the efforts of individuals and organisations who have made an immense contribution to the fields of business, industry, education, real estate, tourism, financial services, fashion, electronics, agriculture, banking, IT, foods, healthcare, and more in Maharashtra.  

Under the leadership of Ratan Tata, TCS became a publicly traded company, and Tata Motors was listed on the New York Stock Exchange, gaining global acknowledgment. Throughout his 21-year tenure as head of the Tata group, revenues experienced a remarkable growth of over 40 times, while profits soared by more than 50 times.

Alongside numerous other accolades bestowed upon him during his illustrious career, Ratan Tata has also been honored with two of India's most prestigious civilian awards: the Padma Vibhushan in 2008 and the Padma Bhushan in 2000.