The award is presented to individuals who are distinguished in their chosen professions or life's work who demonstrate pride in the university, the University of Texas said in a statement.
Mago is chairman of Mago & Associates Inc, a Dallas-based business and investment consulting firm. He is the founding chairman of the Greater Dallas Indo-American Chamber, now known as the US-India Chamber of Commerce, it said.
He serves on the Board of Regents for the University of North Texas System and on boards for the Primary Care Clinic of North Texas and the Dallas County Community College District Foundation.
Mago immigrated to the US in 1974 after getting a bachelor's degree from Delhi University. He received a Master of Business Administration from University of Texas.
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