Vellayan Subbiah Named EY Entrepreneur of the Year 2023 for Pioneering Business Growth Strategies

Chennai, India – Vellayan Subbiah, Chairman of Cholamandalam Finance and Executive Vice Chairman of Tube Investments of India, has been honored with the prestigious EY Entrepreneur of the Year Award 2023 (EOY). This coveted title is awarded to individuals who have demonstrated exceptional entrepreneurial skills and achievements.

Subbiah was chosen as the winner by a distinguished jury panel led by K V Kamath, the former Chairman of ICICI Bank. The jury commended Subbiah for his visionary strategies that transformed existing businesses and capitalized on new opportunities through acquisitions and diversification. These bold moves not only propelled his group companies to unprecedented success but also resulted in a remarkable four-fold increase in shareholder value within a span of just three years.

As the recipient of the EOY 2023 award, Subbiah will represent India at the esteemed EY World Entrepreneur of the Year Award (WEOY) ceremony, which will be held in Monte Carlo from June 4th-7th, 2024. This international recognition highlights the extraordinary contributions that Subbiah has made to the business world and positions him as a leading figure in global entrepreneurship.

In addition to Subbiah, Natarajan Chandrasekaran, Chairman of Tata Sons, was also applauded for his exceptional leadership and awarded the Special Jury Award. Chandrasekaran’s strategic initiatives to strengthen core businesses, foster group synergies, and focus on scaling up have significantly enhanced the market position of the Tata Group. Under his guidance, the market capitalization of the group skyrocketed from $170 billion to an astounding $365 billion, a testament to his remarkable achievements.

Furthermore, the 2023 Lifetime Achievement Award was bestowed upon Venu Srinivasan, Chairman Emeritus of TVS Motor Company. Srinivasan’s decades-long entrepreneurial excellence has revolutionized the two-wheeler industry in India. Through his commitment to quality, innovation, and sustainable practices, Srinivasan has garnered numerous accolades, including the prestigious Padma Shri and Padma Bhushan awards in 2010 and 2020 respectively. His contributions to the industry and society are immeasurable and have solidified his place as a true icon in the business world.

Rajiv Memani, Chairman and CEO of EY India, expressed his heartfelt congratulations to the winners and finalists of EOY 2023, acknowledging them as shining examples of entrepreneurial excellence. Memani praised their ability to transform their businesses and create new markets by leveraging scale, customer centricity, and innovation. The accomplishments of these exceptional individuals not only inspire others but also showcase the immense potential and impact of entrepreneurship in today’s dynamic economy.

The EY Entrepreneur of the Year Awards 2023 serves as a platform to celebrate and honor outstanding leaders who have redefined entrepreneurship through their groundbreaking ideas, strategic vision, and unwavering determination. These individuals have not only achieved remarkable success in their respective fields but have also shaped industries, inspired innovation, and contributed significantly to the overall growth of the economy.