YC Deveshwar, chairman of ITC Limited, has been named "Business Person of the Year 2006" by UK Trade & Investment, a British government organisation, for his significant contribution in promoting Indo-British business relations.
Deveshwar was honoured by Prince Andrew, the Duke of York, at the India Business Awards ceremony in Mumbai on Wednesday, according to a release of the company that supports overseas businesses.
As the president of the Confederation of Indian Industry (CII) he was a key figure behind the success of Tony Blair's EU-India summit in 2005, it said.
Deveshwar has had a distinguished corporate career. Since 1996, he has been the chairman of ITC Limited, one of India's most widely recognised 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.
Deveshwar also guided ITC's successful foray into new growth areas, including agri business, retail and distribution and branded fast moving consumer goods, including foods and garments.