Vasu Chanchlani was an Indian-Canadian serial entrepreneur, philanthropist and trans-nations builder. He is co-founder of the Sigma Group of Companies and a founding member of the Canada India Foundation. He is also an investor in dozens of companies globally consisting of start-ups and turn-arounds. He is best known for his efforts towards improving Canada-India relations through his philanthropic activities and engagement with Indian Diaspora to serve bilateral interests of both Canada and India. Most recently, Vasu was awarded the Top 25 Canadian Immigrants award by the Canadian Immigrant magazine. On January 9, 2014, his excellency shri Pranab Mukherjee, President of the Republic of India, conferred the Pravasi Bharatiya Samman Award (PBSA), the highest honour bestowed on non-resident Indians, by the Government of India.

The Pravasi Bharatiya Samman is the highest Indian award for Overseas Indians or an organisation or institution established and run by Overseas Indian diaspora, constituted by the Ministry of Overseas Indian Affairs, Government of India in conjunction with the Pravasi Bharatiya Divas, to honour exceptional and meritorious contribution in their chosen field/profession. The award is given by the President of India. Since 2016, the Government of India has doubled the number of awardees each year to 30 after a decision to grant the award once every two years.