Vellayan Subbiah, the Executive Vice-Chairman of Tube Investments of India and Chairman of Cholamandalam (Chola) Investment and Finance Co. Ltd., has been awarded the EY World Entrepreneur Of The Year 2024 at an award ceremony held in Monaco’s Salle des Etoiles. This prestigious accolade is in recognition of his exceptional entrepreneurial acumen and significant contributions to the business world.
Mr. Subbiah is the fourth Indian to win this award in its 24-year history, underscoring India’s remarkable entrepreneurial ingenuity. Furthermore, India is now the only country among EY regions to have claimed the global entrepreneurship award four times, with three winners in the last decade alone. Previous Indian winners include Uday Kotak in 2014, Kiran Mazumdar-Shaw in 2020, and Narayana Murthy in 2003.
Mr. Subbiah is a transformative business leader with a strong vision for the future of India, his companies, and his people. His journey from engineering to strategic consultancy and ultimately entrepreneurship has been remarkable. Mr. Subbiah’s leadership has guided Chola through challenging times, resulting in a 60-fold increase in its market capitalization during his tenure. He has also played a significant role in the transformation of TII, a 70-year-old manufacturing company, by realigning investments and driving acquisitions, leading to a 13-fold growth in its share price.
Beyond his business success, Mr. Subbiah has been committed to sustainability and community welfare, driving initiatives that have propelled his companies towards significant environmental and social milestones, setting new standards for corporate responsibility.
Praising Mr. Subbiah’s achievements, Carmine Di Sibio, EY Global Chairman and CEO, highlighted his impressive growth of the businesses he has led and his dedication to enabling others to ‘enter a better life’. Mr. Subbiah was also lauded for his outstanding track record of giving back through education scholarships, health innovations, and environmental stewardship.
Expressing his gratitude, Vellayan Subbiah stated, “I am deeply honoured to be recognized as the EY World Entrepreneur Of The Year. The spirit of entrepreneurship runs deep within me, and I am inspired by those who came before me and those who will follow. I firmly believe in approaching challenges as opportunities and committing ourselves to a path of self-improvement. I hope to further the legacy of past winners by continuing to elevate others throughout my entrepreneurial journey.”
Reflecting on Mr. Subbiah’s achievements, Rajiv Memani, Chairman and CEO, EY India, expressed immense pride in witnessing an Indian entrepreneur win on the global stage. He praised Mr. Subbiah for his customer-centric approach, innovation, and long-term sustainability at the core of his business strategies.
The EY World Entrepreneur of the Year event celebrates the accomplishments of visionary leaders who are transforming industries, growing the economy, and addressing global challenges. The annual gathering brings together founders, CEOs, and business leaders for a series of networking opportunities and workshops, culminating with the winning announcement.
The selection of the EY World Entrepreneur of the Year 2024 was conducted by an independent panel of judges based on four criteria: entrepreneurial spirit, purpose, growth, and impact. The esteemed panel of judges was chaired by Hernan Kazah, Co-founder and Managing Partner, Kaszek Ventures.
Vellayan Subbiah’s recognition as the EY World Entrepreneur of the Year 2024 is a testament to his exemplary leadership, his commitment to business excellence, and his significant impact in the entrepreneurial landscape. His achievements serve as an inspiration to aspiring entrepreneurs and business leaders around the world.