Anand Mahindra presented with 2020 Padma Bhushan Award at Rashtrapati Bhavan

The Government of India conferred Mahindra with the honour at a ceremony held at the Rashtrapati Bhavan earlier in the day.

Mahindra remains one of the most influential personalities in the Indian commerce industry and the group.

He has worked tremendously towards changing the landscape of the Indian trade sector on a global scale.

"President Kovind presents Padma Bhushan to Shri Anand Gopal Mahindra for Trade and Industry. He is the Chairman of the Mahindra Group. His tenure has seen the Group expand domestically and internationally into a range of major industrial sectors from automobile to IT & Aerospace," the President's official Twitter handle said in a tweet.

In a statement, Mahindra & Mahindra wrote, "This is a recognition of our Rise philosophy - doing well and doing good at the same time. Mr Anand Mahindra has over the years has shown exemplary business acumen and nurtured the growth of the Mahindra Group with the highest standards of corporate governance."

"The Group has expanded through diversification and acquisitions on a global stage while continuing to strengthen the foundations of its core businesses. Most importantly, he has upheld the spirit of the Mahindra Group, which has always believed firmly in giving back to the community and ensuring inclusive growth," it added.