 It was established during the Fifth BRICS Summit held in March 2013 in Durban, South Africa.Kanwar is the recipient of an Ernst and Young Entrepreneur of the Year Award for India, in the manufacturing category in 2012.In October 2018, Kanwar was awarded with ‘Order of Merit’ of Hungary, in recognition of his work towards strengthening Hungarian-Indian economic relations through the company’s investment in Hungary, thereby helping create new jobs in Hungary  In November 2018, Kanwar was conferred with Japanese honor 'Order of the Rising Sun', Gold and Silver Star.