Siddhartha Lal, managing director and chief executive officer, Eicher Motors, has been awarded the EY Entrepreneur of the Year for 2018. Having led an impressive transformation at Eicher Motors since he took over the reins in 2006, helping the company resurrect the Royal Enfield motorcycle brand in India and establishing it as a global brand icon.
Lal will now represent India at the EY World Entrepreneur of the Year Award (WEOY) in Monte Carlo from 6 – 8 June 2019. This global business award programme is celebrated across 60 countries. Now in its 20th year in India, it recognizes entrepreneurs for building a better India and accelerating growth and innovation.
Awards were also announced for nine other category winners who represent both mature industries and unicorns, and are riding the wave of change and transforming India’s business landscape.
Azim Premji, Chairman of Wipro was honored with the Lifetime Achievement Award for putting the Indian information technology industry on the global map and for his notable contributions to society as a philanthropist. He diversified Wipro from a vegetable oil company to a market-leading technology firm. Through several philanthropic initiatives, he is committed to bringing about a change in the areas of public education, nutrition, local governance, and the upliftment of vulnerable groups in society.
The other EY Entrepreneur of the Year 2018 winners are:
· Start-up: Byju Raveendran, Founder and Chief Executive Officer, Think & Learn (BYJU’S)
· Manufacturing: Nirmal K Minda, Chairman and Managing Director, Minda Industries
· Services: Ritesh Agarwal, Founder and Chief Executive Officer, Oravel Stays (OYO Hotels and Homes)
· Financial Services: Sanjay Agarwal, Managing Director and Chief Executive Officer, AU Small Finance Bank
· Consumer Products & Retail: Rajesh Mehra, Promoter and Director, Jaquar Group
· Life Sciences & Healthcare: Binish Chudgar, Vice Chairman and Managing Director, Intas Pharmaceuticals
· Entrepreneurial CEO: Bhaskar Bhat, Managing Director, Titan Company
· Energy, Real Estate & Infrastructure: Atul Ruia, Chairman and Managing Director, The Phoenix Mills
Kishore Biyani, popularly known as the king of retail was conferred the Business Transformation category award for his leadership and business journey of transforming the Indian retail industry. By constantly evolving, inventing and reinventing businesses, he has built brands that are household names and touch the lives of over 500 million customers.
Byju Raveendran of Think & Learn (BYJU’S) was conferred the Start-up category award. A favorite of the global investor community, he has delivered record growth of over 100% each year and is the rarest of rare unicorns to not only cross the billion dollar valuation, but also be profitable. Ritesh Agarwal of Oravel Stays (OYO Hotels and Homes) was conferred the Services category award. He has had a laudable journey of disrupting large global players in the hospitality industry and has delivered annual growth of over 300% in the last 3 years.
Adding rooms at a breakneck speed, he aims to be the world’s largest hotel chain by 2023. Bhaskar Bhat of Titan Company was honored as the Entrepreneurial CEO for creating markets where none existed and building some of the largest and most trustworthy brands made in India.
Rajiv Memani, chairman and regional managing partner, EY India, said, “In the 20-year journey of the Entrepreneur Of The Year Program in India, we have seen Indian entrepreneurs make an invaluable contribution to propelling our country forward. The winners of this year are no different. They come from both traditional and new-age businesses, but what is common to them is how they have transformed companies or their industries or even created new markets where none existed. Technology, boldness, innovation and global impact are at the core of their enterprise.”
An eight-member independent jury panel led by Uday Kotak, Managing Director and Chief Executive Officer, Kotak Mahindra Bank selected the winners. The other Jury Members included Jalaj Dani, Co-Promoter, Asian Paints; Harsh Goenka, Chairman, RPG Enterprises; Rishad Premji, Chief Strategy Officer, Wipro; Meher Pudumjee, Chairperson, Thermax; Sameer Sain, Co-founder and Managing Partner, Everstone Group; Vijay Sankar, Deputy Chairman, The Sanmar Group and Kunal Shroff, Managing Partner, ChrysCapital Advisors.
The winners, comprising unicorns and market disruptors have a revenue INR 1,28,000 crore (~US$19 billion) and employ over 2,50,000 people worldwide.
Ashish Gumashta, CEO, Julius Baer, India, said, “Julius Baer upholds the spirit of entrepreneurship as one of its core pillars and we are delighted to partner in the EOY 2018 awards. It is truly inspirational to witness the power of ideas and innovation in creating lasting societal impact through the adoption of new technologies that have changed the way India operates.”