Set for its 13th edition, the CNN-News18 Indian of the Year (IOTY) has revealed its nominees in the business category for 2023 who have played a pivotal role in propelling India’s economic growth.
The nominees are N Chandrasekaran (Chairperson, Tata Sons), Sanjiv Puri (Managing Director, ITC), Dinesh Khara (Chairperson, State Bank of India), Sunil Vachani (Founder & Chairman, Dixon Technologies) and Sandeep Bakhshi (CEO, ICICI Bank).
Currently into its 13th edition, the awards recognize and award individuals who have brought pride to the nation with remarkable contributions in their respective fields. Recognising excellence across seven categories – Entertainment, Business, Sports, Youth Icon, Rising Sports Star, Social Change, and Climate Warriors, IOTY 2023 promises to be a celebration of India’s finest achievers on the global stage.
A look at the five nominees:
- N Chandrasekaran: Under his leadership, Tata Sons witnessed a recovery and comeback in key businesses such as steel and auto. He has consolidated the leadership in the aviation sector through Air India acquisition, and the company is now investing in semi-conductors. It is a manufacturer for Apple and has entered into a tie-up with Nvidia for AI. N Chandrasekaran oversees 30 companies across 10 verticals, operating in 100+ countries with a collective revenue of $150 billion (INR 12 trillion), in 2022-23, employing over 1 million people.
- Sanjiv Puri: Leading one of India’s diversified conglomerates, he has been at the forefront of steering ITC towards sustainable growth and innovation. The demerger of ITC hotels and acquisitions in the D2C and digital space have paid off for the company. ITC expanded with 18 new hotels in the last 16 months, focusing on tier-2 cities. It has also consolidated agro, foods, and hospitality for a significant push in millets.
- Dinesh Khara: Recognised for his astute leadership at the helm of India’s largest bank, he has played a crucial role in steering the State Bank of India through dynamic economic arena. In the first quarter (Q1) of the ongoing financial year (FY) 2023-24, SBI’s net profit stood at Rs. 18,736 cr. Recently, the Centre extended his tenure till August 2024. The SBI’s asset quality has improved, its costs are under control and the share of safe and secure retail assets have also increased.
- Sunil Vachani: He is a trailblazer in the electronics manufacturing sector and a torchbearer of the Make in India initiative. He has transformed Dixon into a powerhouse in electronics manufacturing, earning it the moniker of India’s Foxconn. This success story is poised to unfold for years to come. In just six years, the company’s workforce has surged from 1,500 to 25,000 employees, with projections reaching around 35,000 within a year.
- Sandeep Bakhshi: He has led a remarkable turnaround for ICICI Bank after Chanda Kochhar’s arrest and indictment. He cleaned up the loan book and ramped up the digital game for the bank. When he took over ICICI Bank in 2018, the share price of the bank on BSE was Rs 313.35 per piece, which has reached over Rs 900 and growing, an indication that the investors have reposed faith in the management of the bank. ICICI Bank on October 21 registered 35.7% year-on-year growth in standalone profit and a 24% rise in net interest income in the July-September quarter of the fiscal year 2023-24 (Q2), with a significant fall in bad loan provisions.
‘CNN-News18 Indian of the Year’ has a rich legacy of honouring exceptional individuals across various fields. The 2023 winners will be revealed at the star-studded grand awards ceremony in January 2024.
Past winners in the Business category include Ratan Tata, Aditya Puri, Rajiv Bajaj, Kumar Mangalam Birla and Uday Kotak.
This year, the winner selection process will combine expert judgment and public voting, with 50% of the decision-making power given to the audience and the remaining 50% entrusted to the jury.
Click here to cast your vote for your favourite Indian and for more details.
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