Padma Awards 2023: Kumar Mangalam Birla, Rasna founder honoured alongside Rakesh Jhunjhunwala

As India remains a bright spot as the fifth largest economy in a world battered by financial uncertainty and recession, investors and entrepreneurs are driving progress. The Padma awards, India's highest civilian honour, are conferred on those who have contributed to growth via trade, art and social development among others.

For their role in India's success story, top stock trader Rakesh Jhunjhunwala, entrepreneur Kumar Mangalam Birla and Rasna founder Areez Khambatta have received Padma awards.

Entrepreneurs and trader on the list

Kumar Mangalam Birla received the Padma Bhushan for trade and industry from India's President Droupadi Murmu on March 22, 2023.

At the same time Jhunjhunwala and Khambatta were conferred the Padma Shri posthumously for their contributions in the same category.

The bull of D-street

Rakesh Jhunjhunwala had a Rs 32,000 crore investment portfolio and had launched a low-cost airline Akasa before his death last year.

He navigated a volatile stock market in India during the 80s and 90s, starting with an investment of just Rs 5,000.

Entrepreneurs with a legacy

Coming from a major business clan in India, Kumar Mangalam Birla is the fourth from the family to become a Padma awardee.

Before him his mother Rajshree Birla and relative Ganga Prasad Birla have received Padma Bhushans, while his great grandfather Ghanshyam Das Birla was a Padma Vibhushan.

Khambatta had launched soft drink packets of Rasna back in the 70s and oversaw the brand's rise as a household name across the country.