Prime Minister Narendra Modi on Monday, 15 January, received the first-ever Philip Kotler Presidential award in New Delhi.
The award focuses on the triple bottom-line of 'people, profit and planet'.
It will be offered annually to the leader of a nation, a statement from the Prime Minister's office said.
According to the award citation, Modi was selected for his “outstanding leadership for the nation”.
"His selfless service towards India, combined with his tireless energy has resulted in extraordinary economic, social and technological advances in the country," it read.
The citation also states that under his leadership, India is now identified as the centre for innovation and value added manufacturing (Make in India), as well as a global hub for professional services such as information technology, accounting and finance.
The statement quoted the citation as saying Modi's visionary leadership has also resulted in the digital revolution (Digital India), including the Unique Identification Number, Aadhaar, for social benefits and financial inclusion.
The citation, the statement said, mentions initiatives such as Make in India, Startup India, Digital India and Swachh Bharat, "which have positioned India as one of the most lucrative manufacturing and business destinations in the world".
Philip Kotler is a professor of marketing at Northwestern University, Kellogg School of Management.
Owing to his ill health, Jagdish Sheth of EMORY University, Georgia was deputed to confer the award on Modi.