His brother is the actor and mime artist Irshad Panjatan, who played in the German film Der Schuh des Manitu.

[4] Hussain was honoured in 1988 with the Padma Bhushan (awarded to recognise distinguished service of a high order to the nation) and has been at the forefront of India's economic and trade reforms since the 1980s.

He was also president of Katha, chairman of Research Council of National Institute of Science, Technology & Development Studies (CSIR); India-China Economic & Cultural Council; Bhartiya Vidya Bhavan, NOIDA Kendra, member of the board of trustees of the Observer Research Foundation, member of the board of governors of Himgiri Zee University, Dehra Dun and several other cultural organisations.

In addition, he was president of Lovraj Memorial Trust and a member of Academy of the Kingdom of Morocco and BP Koirala Foundation (Nepal).

[12] At the time of his death, Hussain was chancellor of English and Foreign Languages University, Hyderabad; chancellor of ICFAI Foundation for Higher Education, member on the board of trustees, of India Development Foundation of Overseas Indians (Ministry of External Affairs), member of International Panel on Democracy & Development of UNESCO; professor emeritus at Indian Institute of Foreign Trade; professor emeritus at the Foreign Service Institute of Ministry of External Affairs; chairman of Ghalib Academy and vice-president of Rumi Foundation.