Team director Debashish Dutta said this is the first time a business chamber acknowledged a football team.
Bagan captain Shilton Paul along with the team members were present at the event for the felicitation along with coach Sanjoy Sen.
Wondering why it had taken 13 years to win the I-League for Bagan, Sen said he believes no player should get exclusive treatment for this feat.
"The message was given that anyone who does not perform will be dropped and that seems to have worked," he said.