Y C Deveshwar named 'Business Person of the Year'

Mr Y C Deveshwar, Chairman, ITC Limited, has been named the `Business Person of the Year 2006' by `UK Trade & Investment', the UK Government organisation that supports overseas businesses in that country. Mr Deveshwar was honoured by His Royal Highness, Prince Andrew, Duke of York, at the India Business Awards ceremony in Mumbai today. The Award acknowledges Mr Deveshwar's significant role in promoting Indo-British business relations. As the President of CII, he was a key figure behind the success of Tony Blair's EU-India summit in 2005.

Mr Deveshwar has given expression to ITC’s Sustainability philosophy through unique business models. ITC became the first Indian company to publish its Sustainability Report, 2004 in accordance with the guidelines of the Global Reporting Initiative. ITC’s efforts in creating sustainable livelihood opportunities won international recognition in the form of the inaugural World Business Award instituted jointly by the United Nations Development Program (UNDP), International Chamber of Commerce (ICC) and the HRH Prince of Wales International Business Leader's Forum (IBLF). ITC’s ‘e-Choupal’, a digital infrastructure initiative to empower marginal farmers in India, is taught as a case study at the Harvard Business School. This initiative won the Development Gateway award at Beijing in September 2005 and the Stockholm Challenge Award in June 2006.

He has also been honoured as the Manager Entrepreneur of the Year 2001 by Ernst & Young. In January 2006, he was inducted to the prestigious Hall of Pride at the Indian Science Congress.

Mr Deveshwar has had a distinguished corporate career. Since 1996, he has been the Chairman of ITC Limited – one of India’s most widely recognized and respected corporations. Under his leadership, the company has consolidated and strengthened its diversified businesses in Hotels, Paperboards and Packaging, achieving accelerated growth and profitability. Mr Deveshwar also guided ITC’s successful foray into new growth areas including Agri Business, Retail & Distribution and branded FMCG goods including Foods and Garments.