Ram's contribution to journalism has been recognised by a number of awards. These include the Asian Investigative Journalist of the Year (1990) Award conferred by the Press Foundation of Asia at the "One Asia Assembly", Bofors Case, the disciplined application of his journalistic idealism and the impact of his revelations on the Indian political scene"; the B.D. Goenka, 1989, shared with Chitra Subramaniam; in the interest of the nation"; and XLRI's First JRD Tata Award for Business Ethics, awarded at the institute's 46th Annual Convocation at Jamshedpur on 23 March 2003. The Highest national honour conferred by Sri Lanka on non–nationals is the Sri Lanka Rathna award. Ram, the editor in chief of four Chennai-based publications, became the first Indian national to be awarded that honour on 14 November 2005.