The annual award was instituted by Australia India Business Council (AIBC) of Victoria last year.
Baillieu, who resigned as the state premier in March, said, "It was a delight to work with the Indian community and India."
He said his government had taken various steps including addressing the student safety issues, business to business and cultural exchanges to boost and maintain good relations with India.
He said the three major trade missions during his tenure from 2011 to 2013 to India were all very successful.
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The award was presented to Baillieu at a programme attended by Victorian Governor Alex Chernov, Indian High Commissioner Biren Nanda and leading businessmen.
The award has been named after Emperor Ashoka who ruled India in the period 304-232 BC and made huge contributions to humanity and development of a secular society.
Last year, AIBC Victoria gave the inaugural award to former Energy Minister Martin Ferguson, who had been advocating uranium sale to India.
The Victorian Government lead over 140 organisations from the state to India in March this year that followed by the Super Trade Mission to India in February 2012 that generated additional sales of over USD 355 million over the last two years.
Over 40 per cent of bio-technology sector of Australia is located in Melbourne, he said.
"Great collaboration with India in this area would provide us with significant opportunities to strengthen our capabilities," he said.
AIBC Victoria President Ravi Bhatia said, "The two sides commercial, cultural, political relationship are excellent and are on the trajectory of fast growth."
"We have to think outside the box to take this relation to the next level," Bhatia said.