PUNE:
Eminent industrialist and former chairman of the Bajaj group, Rahul Bajaj, who put Indian industry on the world map and was known for his outspokenness, died on Saturday due to age-related illness, according to a group official.
Bajaj (83), who stood down from his position of non-executive director and chairman of Bajaj Auto on April 30 last year and remained as the Chairman Emeritus, was not keeping well for some time and passed away at around 2:30 pm on Saturday.
Bajaj is survived by two sons, Rajiv Bajaj and Sanjiv Bajaj, and a daughter Sunaina Kejriwal.
Born on June 10, 1938, he headed the Bajaj group of companies that have a presence across segments such as automobiles, general and life insurance, investment and consumer finance, home appliances, electric lamps, wind energy, special alloy and stainless steel, material handling equipment and travel.
After taking charge of the Bajaj group business in 1965, Rahul Bajaj led it to the growth path.
He steered the diversified entity during India’s transition from a closed economy to a liberalised one and drove the company to expand its product portfolio with the Bajaj brand finding a foothold in global markets while warding off emerging competition from Japanese motorcycle makers that challenged the Bajaj Auto’s scooters.
Under his stewardship, flagship firm Bajaj Auto saw its turnover growing to Rs 12,000 crore from just Rs 7.2 crore with the firm’s scooters becoming the mainstay.
The company’s Bajaj Chetak scooter became an aspirational symbol for middle-class Indian families then, with the ‘Humara Bajaj’ tune becoming synonymous.
Bajaj was a recipient of many awards, including the Padma Bhushan and honorary doctorates from many universities.
He also held many other positions, including the chairman of Indian Airlines and chairman of the board of governors of the Indian Institute of Technology, Bombay.
He was also a former chairman of the International Business Council, World Economic Forum and a former member of the South Asia advisory board of Harvard Business School.
NATION MOURNS BAJAJ’S PASSING AWAY
Besides, he was a former member of the International Advisory Council of the Brookings Institution in Washington, DC. He had done a BA (Honours) in Economics from Delhi University, a law degree from Mumbai University and an MBA from Harvard Business School.
President Ram Nath Kovind and Prime Minister Narendra Modi expressed grief at the demise of Bajaj and recalled his contributions to the world of industry.
While the President said Bajaj’s career reflected the rise and innate strength of the nation’s corporate sector and his death leaves a void in the world of industry, Modi said Bajaj was also passionate about community service and was a great conversationalist.
Telangana Chief Minister K Chandrashekhar Rao on Saturday condoled the industrialist’s death and said, “Hamara Bajaj” is a trademark slogan.
An official press release from Rao’s office said products like Bajaj Scooter have become part of public life.
Rahul Bajaj will be accorded a state funeral, Maharashtra Chief Minister Uddhav Thackeray said on Saturday as he and state governor B S Koshyari condoled the demise of the veteran industrialist saying his contribution in the field of industrial development in the country was unparalleled. Rahul Bajaj’s last rites will be held on Sunday.
“The contribution of the Bajaj family in the nation’s freedom movement and its industrial and social development is very high. During his tenure as chairman of Bajaj group, Rahul Bajaj expanded the business empire of the group in India and outside,” the Governor said.
Uday Kotak said in a tweet: “Rahul Bajaj: bold and fearless. A rare businessman who spoke truth to power. A proud Indian. Built world-class enterprise. I am truly honoured to know him. Will miss him.”
Harsh Goenka said in a tweet, “The ‘spine’ of Indian business cracks. A close family friend, he was a visionary, straight-talking and very respected for his value systems. An era ends! He leaves behind the two most capable sons in Indian industry, Rajiv and Sanjiv.”
Former Union Minister Praful Patel pointed out that Bajaj was one of the longest-serving chairmen in corporate India. He is credited with making brand Bajaj a household name, Patel said.
Former Finance Minister P. Chidambaram said Rahul Bajaj was the one who put average Indians on two motorised wheels. In his passing away, we have lost a far-sighted and outspoken business leader, he said.
Congress leader Jairam Ramesh said Bajaj was one of the few businessmen who spoke out against the 2002 riots.
India Inc on Saturday expressed grief on the passing away of industrialist Rahul Bajaj.
“He has been like a father figure to all of us at CII. Not only guided us on all matters but well protected us on so many issues. His leadership was available for just everything for us.
His advice on all critical matters was always available and helped us take the most important decisions at the institution,” said Chandrajit Banerjee, DG, CII. Agencies