The Syndicate of Punjab University conferred the 'Udyog Ratna' award upon S.P. Oswal, Chairman of Vardhman Textiles, Vardhman Acrylics, Vardhman Yarns & Threads and VMT Spinning Company Limited which is one of the largest textile business houses in India for his contribution to the industry. The award was presented to Mr. Oswal by Union finance minister Pranab Mukherjee at the University's 59th annual convocation held in Chandigarh on Wednesday, 24th March-2010.