In 2012, the Indian government conferred on him the Pravasi Bharatiya Samman, the country's highest award for achievements by non-resident Indians and persons of Indian origin, in recognition of his contribution in building closer links between Singapore and India. 

The Order of the Temasek, First Class, comprises a badge and the star of the order and is conferred by the president of Singapore on the advice of the prime minister.

It is the top of the Order of the Temasek series, the other two being the Order of the Temasek, Second Class, and the Order of the Temasek, Third Class.

In the case of the First Class of the Order of Temasek, the badge of the Order of Temasek is worn on the right hip from a sash passing over the left shoulder and under the right arm, and the star of the Order of Temasek is worn on the left side of the outer garment.

Nathan is married to Urmila Nandey and has a daughter, a son and three grandchildren.