Balasubramanian, 50, Herchel Smith Professor of Medicinal Chemistry at Cambridge University, has been recognised for his work as a co-inventor of Next Generation DNA sequencing, described as the most transformational advance in biology and medicine for decades.
"Solexa sequencing, as it is now known, allows an individual genome to be sequenced in a day or two at a cost of less than 1,000 pounds; previously, sequencing the human genome took years of work and cost billions. His work has spawned an entirely new discipline of Bioinformatics," his citation reads.
Olympic stars Andy Murray, Mo Farah and Jessica Ennis- Hill are among others honoured in the 2017 New Year Honours list, which also includes big names from the entertainment world, including actors Mark Rylance and Patricia Routledge.
Rio 2016 men's tennis champion Murray and double gold- winning athlete Farah receive Knighthoods,while heptathlete Ennis-Hill becomes a Dame.
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A host of other Indian-origin professionals are also included in the honours list, including Knights Commander of the Order of the British Empire (CBE) for Hardip Singh Begol of the UK's Department for Education for services to education; Kamaldeep Singh Bhui, Professor of cultural psychiatry and epidemiology at Queen Mary University of London for services to mental health research and care.
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Among this year's Members of the Order of the British Empire (MBEs) are Surjit Singh Chowdhary, vice-president, Central Gurdwara Singh Sabha, Glasgow, for services to the Sikh community and charity; Parkash Singh Dhami, president of Telford Gurdwara, for services to charity and community Cohesion.
Vanita Patel, anti-slavery ambassador, worldwide eradication of slavery, for charitable services to human rights; Mukesh Shah for charitable and community service in the UK and abroad; Sangeeta Rajesh Shingadia for charitable service in the UK and India; Tony Singh for services to the food and drink industry and charity; Professor Sital Singh Sitara for services to Sikh heritage and culture were among others included in the list.
Medallist of the Order of the British Empire have been conferred upon Prithipal Singh Kang for services to fire and rescue awareness; Davinder Kaur for services to women's enterprise; Sewa Singh Nandhra for services to the community in London.
Paritaben Patel for voluntary and charitable services to poverty reduction in India; Induji Popat for services to Asian women; Baljinder Singh Rana, chairman, Guru Nanak Football Club, for services to football and inclusion in Kent; and Vijey Rattan, chair, Naree Shakti, for services to interfaith relations in Enfield.
There are 603 successful women candidates in the list, representing just over 50 per cent of the total and 9.3 per cent of the successful candidates come from ablack and minority ethnic (BAME)background, the greatest ever number ofBAMErecipients in an honours list.