K V Kamath is Business India''s businessman of the year

In keeping with the magazine's tradition, the jury was chaired by Business India's businessman of the previous year, S Ramadorai, CEO, Tata Consultancy Services Ltd, who was selected for the award last year.

Kamath was honoured for his achievement in the transformation of ICICI from a development finance institution to a full-fledged commercial bank, now India's second largest after the State Bank of India after the mega reverse merger of ICICI Ltd with ICICI Bank in 2002. He took charge as MD and CEO of ICICI in 1996, from his N Vaghul who remains non-executive chairman.

Past winners of Business India's award

1982 - Ajit N Haksar, chairman, emeritus, ITC

1983- Russi Mody, chairman, Tata Steel

1984 - H P Nanda, chairman, Escorts