The award was given away in the presence of Telangana Chief Minister K Chandrasekhar Rao and Union Minister M Venkaiah Naidu.
Speaking on the occasion, Bachchan said, "It is a privilege to be a part of this industry. It is stalwart like ANR who has given the film industry dignity, respectability and grace."
Actor Nagarjuna, son of ANR, said his father had the highest regard for Bachchan's work in the film industry.
Chief Minister Rao said his government was committed to developing film industry in Hyderabad. He said he would hold a meeting with all important personalities of the Telugu film industry soon to discuss issues related to the industry.
The Akkineni International Foundation was founded by ANR to provide aid to the disabled people and funds for needy students.
Earlier in the afternoon Bachchan called on the Chief Minister at his camp office.

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