Tata Sons chairman Ratan Tata has been given honorary fellowship of the London School of Economics and Political Science for his contribution to the global industry.

"We honour Ratan Tata for his achievements in the fields of entrepreneurship, industrial leadership, and building up knowledge economy. Tata is an iconic name in India, thanks to Ratan Tata's efforts around the world."

Honorary fellowships are awarded by LSE each year to people who have attained distinction in arts, science or public life or who have rendered outstanding services to the school or its concerns, a statement said.

 "I am greatly honoured to receive this prestigious recognition from the LSE. Over the years, LSE has graduated economists and policy makers who have played an important part in influencing policy and governance of many developing countries," Ratan Tata said.