TIOL - COB( WEB) - 962
MARCH 6, 2025

By Shailendra Kumar, Founder Editor

TIOL Awards and TIOL Congress are conjoined twins. They were scheduled to roll out in April 2020 but the deadly virus from the Corona clan compelled the TIOL Knowledge Foundation (TKF) to put the twins in 'incubator' for one more year. Thus, the first event took place in 2021 for the Year 2020. In quick succession, we had organised the twin events for the year 2021 before the page of the calendar could turn and usher in a New Year. TIOL Congress was ideated to be a 'cauldron' to bake raw ideas into polished policy prescriptions through democratic deliberations by all the stakeholders, including multilateral institutions. The initial floodlight was kept on hot-button taxation issues. And the Congress continued to slither on the same turf for five years. Being marooned by a barrage of suggestions from within and also outside India, we, for the first time, decided to shed the only-visible skin of taxation and embrace the sprawling canvas of regulatory challenges, including taxation, to be more inclusive for the economy. Though we had three out of five technical sessions, dedicated to contentious taxation issues, at our latest Congress in Mumbai, but we confidently made a jump-start with two non-taxation sessions such as sustainability and regulatory pain-points for the new age digital economy.

In a similar fashion, TIOL Awards embarked on its voyage with two key features - TIOL Fiscal Heritage Award for Lifetime contribution to economic and fiscal space in India, and the National Taxation Awards to turbocharge and mould the fiscal demeanours of the common taxpayers to discharge their legal obligations sans tut-tut! After three years, we proposed a new category of award - TIOL Kautilya Global Award for Lifetime contribution to Economics and Policy-making, and our Hon'ble Jury unanimously approved the same. Closer to the completion of its fifth anniversary, on popular demand, the Jury also nodded the creation of TIOL Corporate India Awards, which stands on two 'legs' - TIOL Business Legend Award and TIOL Exemplary Businesswoman Award. The very idea was to honour all such business persons who have devoted their lifetime to add measurable quantum to the nation's kitty of wealth and also social capital in terms of life-changing philanthropy. Since the Indian economy has produced hundreds of women leaders who have not only shattered the conventional glass-ceiling but have also made indelible mark in the male-dominated corporate bastion, creation of such an exclusive award was almost-overdue. It was also agreed upon that the TIOL Corporate India Award would be hosted at a place where the older recipient of the awards will be residing. That is what valeted the TKF to Mumbai when the Jury unanimously voted in favour of Sir Ratan Tata (he was alive that time) to be the first recipient of the TIOL Business Legend Award 2025 and Ms Shobhana Bhartia to be the first recipient of the TIOL Exemplary Businesswoman Award 2025.

And both the events were held last Saturday at J W Marriott in Mumbai. For the Corporate India Awards, it was a star-studded glittering soirée, bigfooted by one of the most dynamic and widely-admired Cabinet Ministers in the Modi Government, Mr Nitin Gadkari. From the Bombay House, the headquarters of the Tata Group, none but the Chairman of the Tata Sons Ltd, Mr N Chandrasekaran, who mirrors his late mentor in humility and pragmatism, joined us to add multiple hues to the occasion. The two other dignitaries on the dais were the Minister from Tamil Nadu, Dr P Thiaga Rajan, who is known for his extraordinary intellect and spontaneity in answering meaningful questions, and the Chairman of the Jury, Justice Shiva Kirti Singh. All the dignitaries blessed us with their before-time arrivals and the award event seamlessly rolled out a bit early as the auditorium was packed to the brim.

After conferring the award on Sir Tata, which was received by Mr Chandrasekaran, Mr Gadkari let his memory-box travel many seasons back to 1996 and recalled his ambition as the Maharashtra State Minister to fund infrastructure projects in Mumbai by raising funds through the capital markets as the State government had no surplus resources for mega projects. He discussed his unheard of ambition with Sir Tata who promptly backed his idea and also shared the technicalities of the ambitious exercise. He observed that at present, the NHAI has mopped up Rs 55000 Crores through toll fees and the same is projected to be above Rs 1.4 lakh crores in the next two years but there was no such comfort at that point of time. He also recalled paying a visit to his house in connection with the inauguration of one of the prominent flyover projects at Vashi. When he reached his house, he said, he was wonderstruck by the fact that he used to do most of his chores by his own self, with the support of merely two aides unlike a legion of retainers normally found at an industrialist's bungalow. Mr Gadkari observed that what set him apart from other corporate leaders was his spartan living and extraordinary humility. His dedication to social welfare and development of the Mumbai city was unmatched. He talked about many examples of his philanthropy, most notably his initiative to set up a dedicated cancer hospital to benefit the economically vulnerable and socially depressed sections of the society. He concluded by underlining that there is a lot one could learn from Sir Tata, who was an ideal role model for a large kitty of rich human values.

In his brief speech, Shri Chandrasekaran said that Sir Tata had immense respect for Mr Gadkari and used to refer to him as a 'big doer'. He remembers Sir Tata as so unique personality that it is too difficult to describe him or typify him under certain categories - he was a dreamer; a pioneer, a defender of the defenceless and a person to be only experienced. He walked down memory lane and spoke about two incidents to highlight what sort of man he was. When he approached Sir Tata to intimate him about his plan to redo over a century-old Bombay House, the only question that popped up between them, was - Where will the 7-8 street dogs go as Bombay House was also home for them! When he was briefed about how his plan also includes design for their kennel, his face glowed with satisfaction. The second incident he talked about was his first meeting with the Tata Motors Employees Union to settle pending wages. Rather than giving him insights, Sir Tata offered to accompany him and also preferred to take corner seat rather than the lead seat. After the talks were over, the only advice he gave him was - Just go a little beyond what the Union was expecting. This shows what sort of person he was, added Shri Chandrasekaran.

While talking about the recipients of the TIOL Awards, the Minister for IT & Digital Services in Tamil Nadu Government, Dr P Thiaga Rajan, said that both the awardees do not only represent the past but also the future of India, which is one of the key drivers of growth for the global economy. He talked about how China which dominated the global supply chains in the past three decades, is now unwinding and how India has emerged as a natural substitute. However, he cautioned that things are to be done professionally by the governments, corporates and other stakeholders if India's potential is to be realised. He highlighted the widening gulf between the intent and the outcomes in all the sectors in the economy. He concluded by saying that path-breakers like Sir Tata and Ms Shobhana Bhartia are exemplary guiding lights for the future generations in India. Earlier, in his speech, the Chairman of the Jury, Justice Shiva Kirti Singh, said that TIOL Awards Organisers and the Jury Members deserve to be lauded for being rigorously methodical in their homework while presenting a list of probables who are judged against many objective parameters such as the breadth and depth of their contribution, impact of their works on public finance, benefits to the Indian and global communities and many more. "With some experience in my present role, I am now a diehard protagonist of such a jury system to select recipients of lifetime awards," he added.

In my welcome address, I focussed more on Sir Ratan Tata's spartan and simple living with high thinking, and how he exemplified the doctrine of frugality in his life. I also talked about how his humility was an envy not only for his contemporary business leaders in India and abroad but also a wide array of people who came in his contact. I also highlighted his uncanny trait to eschew publicity unless warranted by his business. I also spoke about how he always believed that Tata Trusts held wealth as the trustee of the society, and also treated Tata companies as living corporate citizens. About Ms Shobhana Bhartia, I spoke about how she made history as the first woman to helm a newspaper in India, smashing the conventional male-dominated bastion with her innovative approach as she always believed that news is a public trust. For me and hundreds of others, the major takeaway from this event was the character of disarming humility of Sir Tata and a precious lesson to make unswerving efforts to keep nourishing basic human values, which alone stitch together a healthy civilisation to be passed on to the posterity!