Mumbai, 28th October: Mr Tarang Jain, Managing Director of USD 1.2 billon Varroc Group, was named “Nextgen Entrepreneur of the Year 2013” at a glittering award ceremony hosted by Forbes India magazine in Mumbai on October 16th.

Nextgen Entrepreneur for the Year is one of the flagship awards of Forbes India and Mr. Tarang Jain was chosen for the high honour for successfully leading Varroc with strategic forward-moves to grow his group more than 10-fold. Since, 1990, Mr Jain has astutely guided the growth and diversification of the Group to make it a truly global entity with 32 manufacturing units across the world and a turnover of USD 1.2 billion. His vision is for the Group to achieve a turnover of USD 4 billion by the year 2020.

The Forbes India Leadership Awards recognise the outstanding entrepreneurs and leaders across the spectrum – from start-ups to big corporations to conglomerates. Mr Jain received the award in the presence of industry stalwarts like Mr Brijmohan Lall Munjal, Chairman & Whole Time Director – Hero Motocorp; Mr Anand Mahindra, CMD – Mahindra & Mahindra; Ms Chanda Kochhar, MD & CEO – ICICI Bank; Mr Phanindra Sama, Co-founder and CEO – redBus.in; Mr Rakesh Tandon, CEO – IRCTC; Mr Francisco D’Souza, CEO – Cognizant Technology Solutions and many others. Mr Jain, in his acceptance speech, stressed on sustainable growth in times of super-normal growth, he thanked his mother and wife and accepted the award on behalf of his 11,000 employees.

The other nominees in this category were Mr Ajay Bijli – Chairman & Managing Director, PVR Cinemas; Mr Neeraj Singhal – Managing Director, Bhushan Steel; Mr Vikas Oberoi – Chairman & Managing Director, Oberoi Realty Ltd and Mr Vinod Ramnani – Chairman and Managing Director, Opto Circuits.