Vellayan Subbiah: EY World Entrepreneur of the Year 2024

In a significant achievement for the global business community, Vellayan Subbiah, Executive Vice Chairman of Tube Investments of India (TII) and Chairman of Cholamandalam Investment and Finance Co Ltd. has been awarded the prestigious EY World Entrepreneur of the Year 2024.

This marks the fourth time an entrepreneur from India has secured this global title, highlighting the country's growing influence in the entrepreneurial landscape.

Subbiah's visionary leadership and transformative strategies have propelled both TII and Chola to unprecedented success, earning him recognition on the international stage.

Professional journey

Vellayan Subbiah's entrepreneurial journey combines engineering acumen and strategic consulting prowess. After completing his engineering degree from the Indian Institute of Technology (IIT) Madras and earning an MBA from the University of Michigan, he began his professional career with a solid foundation in technical and managerial skills. His early experiences included a stint at McKinsey & Company, where he honed his strategic and operational expertise.

Subbiah assumed leadership roles within his family’s business, starting with Cholamandalam Investment and Finance. His tenure as Chairman was marked by navigating the company through challenging times, achieving remarkable growth in market capitalization, and reinforcing its position in the financial services sector. Subsequently, he took the helm at Tube Investments of India (TII), where he revamped the business model and drove significant share price growth, cementing his reputation as a transformative leader.

Transformative leadership

A strong customer-centric approach, relentless innovation, and a commitment to long-term sustainability characterise Subbiah's leadership style. His strategic vision has been instrumental in the growth and diversification of TII. Notably, under his guidance, TII’s subsidiary, CG Power, embarked on constructing India’s first outsourced semiconductor and test facility. This initiative underscores his commitment to advancing the industry and positioning India as a key player in the global semiconductor market.

Recognition and acknowledgement

Upon receiving the EY World Entrepreneur of the Year award, Subbiah expressed deep gratitude and emphasised the spirit of entrepreneurship instilled in him by preceding generations. He acknowledged the collective efforts of his team and the support of his family in achieving this milestone. Rajiv Memani, Chairman and CEO at EY India, commended Subbiah’s achievement, highlighting his ability to scale and transform businesses while prioritising customer needs. Carmine Di Sibio, EY Global Chairman and CEO, lauded Subbiah’s leadership style, emphasising his humility and dedication to improving the lives of others.

Global impact

Subbiah’s win underscores India’s entrepreneurial prowess and commitment to sustainable growth. Among nearly 5,000 participants from 47 countries, Subbiah stood out for his entrepreneurial spirit, purpose-driven initiatives, growth trajectory, and impact on the industry. His recognition on the global stage is a testament to the innovative and transformative potential of Indian entrepreneurs.

Continued legacy

Vellayan Subbiah joins the esteemed ranks of eminent Indian entrepreneurs who have received this prestigious award, including NR Narayana Murthy, Uday Kotak, and Kiran Mazumdar Shaw. His recognition signifies India’s continued prominence in the global entrepreneurial landscape. Subbiah's success is not just a personal milestone but a beacon of inspiration for future generations of Indian entrepreneurs, showcasing the country’s capacity for innovation, leadership, and sustainable development.

Vellayan Subbiah’s recognition as the EY World Entrepreneur of the Year 2024 is a fitting tribute to his remarkable journey and outstanding contributions to the business world. His leadership at Tube Investments of India and Cholamandalam Investment and Finance Co Ltd. serves as a beacon of innovation, sustainability, and excellence. As he continues to drive TII and Chola towards new heights, Subbiah’s legacy as a visionary entrepreneur and transformative leader is firmly cemented in the annals of global business history. His story is a powerful reminder of the impact of visionary leadership and the enduring spirit of entrepreneurship.