Vivek Chaand Sehgal named EY Entrepreneur of the Year 2016

Motherson Sumi chairman Vivek Chaand Sehgal won EY Entrepreneur of the Year award for increasing the firm’s revenue to Rs35,000 crore from Rs100 crore in 2000


Motherson Sumi’s Vivek Chaand Sehgal will get a shot at winning the EY World Entrepreneur of the Year award in June in Monte Carlo.
Motherson Sumi’s Vivek Chaand Sehgal will get a shot at winning the EY World Entrepreneur of the Year award in June in Monte Carlo.

New Delhi: Vivek Chaand Sehgal, the 60-year-old chairman of auto parts maker Motherson Sumi Systems Ltd, has been named Indian entrepreneur of the year 2016 by EY, the consulting firm formerly known as Ernst & Young.

Infosys Ltd co-founder Nandan Nilekani was honoured with a lifetime achievement award for spearheading India’s Aadhaar project as head of the Unique Identification Authority of India (UIDAI). In a statement, EY called the project “a pioneering citizen identification programme, unparalleled in scope and scale worldwide”.

Sehgal will get a shot at winning the EY World Entrepreneur of the Year (WEOY) award in June in Monte Carlo where he will compete with business leaders from around the world.

Sehgal won the entrepreneur of the year award, based on a self-nomination, largely on the track record he built over the last 17 years during which Motherson Sumi’s revenue soared from Rs100 crore in 2000 to around Rs35,000 crore currently.

In 2015, the company set itself the target of more than tripling its revenue to $18 billion (Rs1.19 trillion) by 2020.

A Rs15,400 crore deal with Daimler AG to supply a range of parts for future generations of Mercedes-Benz cars, and a proposal to buy Finland’s PKC Group for Rs4,150 crore are key to achieving the target.

Abhay Firodia, chairman of Force Motors Ltd, won EY’s business transformation award; Chandubhai Virani, whole-time director of Balaji Wafers Pvt. Ltd, won the award in the consumer products and retail category; Uday Shankar, chairman and chief executive of Star India Pvt. Ltd, was named entrepreneurial CEO.

Vishwavir Ahuja, managing director of RBL Bank Ltd; Samprada Singh, chairman emeritus, and Basudeo Narain Singh, executive chairman of Alkem Laboratories Ltd; Hari Mohan Bangur, managing director of Shree Cement Ltd; Vikas Oberoi, chairman and managing director of Oberoi Realty Ltd; and R. Dinesh, managing director of TVS Logistics Services, won awards in their respective sectors. Darshan Patel, chairman and managing director of Vini Cosmetics Pvt. Ltd, won in the start-up category.

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