Ratan Tata will receive the state's highest civilian honour, the 'Asom Baibhav Award,' from the Assam government.
He has been recognised for his outstanding contribution to cancer care in Assam.
Ratan Tata is the chairman of the Tata Sons.
The Assam cabinet decided in September to change the names of the state's highest civilian awards, which will be given in a variety of fields.
Assam Ratna will now be known as Asom Baibhav, Assam Vibhushan will be known as Asom Saurav, Assam Bhusan will be known as Assam Bhusan, and Assam Shree will be known as Asom Gaurav.