Award is recognition for team work: M.V. Subbiah

Chennai, Jan 26 (IANS) M.V. Subbiah, former chairman of the city based $3.8 billion Murugappa group and chairman of National Skill Development Corporation (NSDC) Wednesday dedicated the award of Padma Bhushan "for the great work done by the teams" at both the organisations.

"I have always felt that such an honour though awarded to an individual, is a recognition of the team work. In my case, this is an honour for the great work done by the teams at the Murugappa Group and the NSDC," Subbiah was quoted as saying in a statement issued here by the Murugappa group.

He was conferred the award by the central government for distinguished service of high order in the field of `Trade and Industry'.

The Padma Awards, the country's highest civilian awards, are conferred in three categories, namely, Padma Vibhushan, Padma Bhushan and Padma Shri.

Subbiah is a third generation member of the Murugappa family and retired as the group chairman in 2004 after 43 years of working in the family business.

Currently he serves as the Managing Trustee of their Family Foundation, which operates four schools, four hospitals, a polytechnic college and a research centre for bringing appropriate technologies to Indian villages.

In 2009, the central government asked him to be Chairman of the newly formed public-private corporation NSDC with a mandate to skill 150 million youth in India. He also serves on Boards of Axis Bank, SRF and LMW.

He is credited with turning around Carborundum Universal Ltd and TI Cycles. With this background the group took over an ailing 200 hundred year old conglomerate E.I.D Parry (India) Ltd. which also he turned around in mid 1980s.

Subbiah has been recipient of the JRD Tata Business Leadership Award in 2002 and the National HRD Award in 1988. The Murugappa family is a recipient of the Distinguished Family Business Award from IMD Lausanne in 2001.