The Institute Ethics Committee approval will be obtained. CTRI Registration will be done. Eligible patients will be included and written informed consent will be taken. Following brief history taking and physical examination, the patients will be randomized to receive either tablet Saroglitazar 4 mg od or similar looking placebo as add on therapy for 3 months in addition to the standard background treatment of metformin and sulfonylureas. Carotid femoral (aortic) pulse wave velocity and other parameters of vascular functions will be measured at baseline and every month during follow up visits for a period of 3 months. 7 ml of venous blood will be taken under sterile precautions to assess fasting and postprandial blood glucose, lipid profile, liver and renal function tests and markers of endothelial function namely ICAM, VCAM, E-selectin, IL-6, at baseline and after 3 months of study period.4 ml of venous blood will be taken at first and second months to measure fasting plasma glucose and postprandial blood glucose, Liver and Renal Function Test. During every month follow up visits, the patients will be enquired about adherence and adverse drug reactions to saroglitazar. Change in anti diabetic medications, if any, will be recorded during all three follow up visits. Blood glucose monitoring (Fasting and postprandial blood glucose) will be done every month for the period of 3 months for clinical management of participants. Type 2 diabetes patients who have dyslipidemia (Cholesterol > 200 mg/dL and triglycerides > 150 mg/dl) will be started with statins, irrespective of the intervention group to which they are randomized.