Dhirajlal Hirachand Ambani, better known as Dhirubhai, has been chosen for the Padma Vibhushan, country's second highest civilian award in the trade and industry category.
Pallonji Mistry, 5th richest Indian, as well as R C Bhargava, Chairman of Maruti Udyog, have been conferred Padma Bhushan, the third highest civilian honour.
Ajaypal S Banga, Chief Executive Officer and President of Mastercard Incorporated, is among the industry leaders chosen for Padma Shri award.
Pharma magnate and founder of Sun Pharmaceutical Industries Dilip Shanghvi, the second richest Indian after Ambani's son Mukesh, and Saurabh Srivastava, Chairman, India Operations of CA Technologies Inc, too were chosen for Padma Shri awards.
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Ambani was 26 when he returned to India and eight years later set up his first textile mill, turning out polyester cloth under the Vimal brand name at Naroda near Ahmedabad in 1966.
In 1990s, he turned aggressively towards petrochemicals, oil refining, telecommunications and financial services.
In 1976-77, Reliance had an annual turnover of Rs 70 crore.
By the time he passed away on July 6, 2002 at the age of 70 years, Ambani had converted this fledgling enterprise into a Rs 75,000-crore colossus - an achievement that earned Reliance a place in the global Fortune 500 list, the first ever Indian private company to do so.
Mistry, 86, is said to be the world's most reclusive billionaire. For a man ranked 5th richest Indian by Forbes with a wealth of USD 14.7 billion in 2015, he is surprisingly invisible, rarely seen or heard in the public space.
shareholders in India's most diversified business conglomerate Tata Group.
He is called, with a mixture of awe and curiosity, the Phantom at Bombay House, the headquarters of the Tata Group, in Mumbai.
Ravindra Chandra Bhargava, 81, serves as the Chairman of the Board at Maruti Suzuki India Ltd. A former civil servant who held important positions including Joint Secretary in the Ministry of Energy and Joint Secretary in Cabinet Secretariat, joined Maruti in 1981. He is widely regarded as instrumental for the success of Maruti.
Banga, 55, has been the Chief Executive Officer and President of MasterCard Incorporated since July 1, 2010 and August 31, 2009, respectively.
Dilip Shantilal Shanghvi, 59, founded Sun Pharmaceutical Industries Ltd in 1982 and served as its Managing Director since May 29, 2012.
A graduate in commerce from Kolkata University, he is a first generation entrepreneur. His low-key management style has turned Sun Pharma, maker of generic and branded drugs, into one of the most profitable pharma companies in India.
Saurabh Srivastava, 69, chairs the Indian operations of CA Technologies Inc, a USD 4.5 billion US software MNC and is one of India's leading IT entrepreneurs, angel investors and venture capitalists.
He serves/has served on various boards, both private and publicly listed companies in the UK and India.