In recognition of Chairman Y C Deveshwar's stellar contribution and steadfast commitment towards making ITC a globally recognised group, he was honoured with the Teacher's Lifetime Achievement Award 2005. Congratulating Deveshwar on winning the Teacher's Lifetime Achievement, Mr Rupert C Patrick, Managing Director, Global Duty Free and Developing Markets, Jim Beam Brands , which owns the Teacher's brand, said, "Mr Deveshwar is undeniably one of the leading faces of successful Indian business today. His key strategic interventions have positioned ITC as a top league company in India and the Teacher's Achievement Awards salutes the spirit, hard work, enthusiasm and the never-say-die attitude with which Deveshwar helped ITC catapult to greater glories. I am sure many generations will be inspired by this truly great achiever."

Receiving the Teacher's Lifetime Achievement Award 2005, Deveshwar said,
''I thank Teacher's for bestowing this honour upon me. The honour really goes to my family and the people who were with me throughout this journey. I believe the best is yet to come.''

The process of nomination and selection of the nominees and the winners is validated by KPMG, the leading global audit firm. The eligibility criteria for the Teacher's Achievement Awards nominations are stringent and follow a strict, bias-free process. Some of the critical deciding factors include a proven track record, originality and innovation, peer recognition and significant milestones achieved in the chosen area of expertise, among others.

The Teacher's Achievement Awards were instituted in 2001. These annual awards aim to recognize individual accomplishments, with the twin objective of honouring excellence as well as inspiring others to scale new heights. The Awards recognise excellence in five different categories, namely Business, Sports, Communication, Entertainment and Teacher's Lifetime Achievement Award.