New Delhi: Eminent industrialist and former chairman of the Bajaj group Rahul Bajaj handed away on Saturday because of sickness at his dwelling in Pune, in response to a gaggle official.
The industrialist died “in the presence of his closest family members,” in response to an announcement from the Bajaj Group.
In April of final 12 months, Rahul Bajaj resigned as Chairman of Bajaj Auto.
“You just can’t beat a Bajaj” and the “Hamara Bajaj ” for the corporate’s iconic two-wheeler are two of essentially the most recognised taglines in Indian company and enterprise.
Bajaj (83), who stood down from his place of non-executive director and chairman of Bajaj Auto on April 30 final 12 months and remained because the Chairman Emeritus, was not holding properly for a while and handed away at round 2:30 pm on Saturday.
His final rites can be held on Sunday, the official mentioned.
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 firms which have presence throughout segments equivalent to vehicles, normal and life insurance coverage, funding and client finance, dwelling home equipment, electrical lamps, wind vitality, particular alloy and chrome steel, materials dealing with tools and journey.
After taking cost of the Bajaj group enterprise in 1965, Rahul Bajaj led it to the expansion path. He steered the diversified entity throughout India’s transition from a closed financial system to a liberalised one and drove the corporate to develop its product portfolio with the Bajaj model discovering foothold in world markets whereas averting rising competitors from Japanese motorbike makers that challenged the Bajaj Auto’s scooters.
Under his stewardship, flagship agency Bajaj Auto noticed its turnover rising to Rs 12,000 crore from simply Rs 7.2 crore with the agency’s scooters turning into the mainstay.
The firm’s Bajaj Chetak scooter turned an aspirational image for the center class Indian households then, with the ‘Humara Bajaj’ tune turning into synonymous with their hopes of a greater future.
In 2005, he had began passing the baton of the corporate to son Rajiv Bajaj, who turned the managing director of Bajaj Auto and led the corporate to change into a really world car participant.
One of essentially the most profitable enterprise leaders of India, Bajaj was elected to Rajya Sabha in June 2006 and remained a member until 2010.
Known for his outspokenness, in November 2019, at an occasion organised by the Economic Times in Mumbai the place Home Minister Amit Shah, Finance Minister Nirmala Sitharaman, and Commerce Minister Piyush Goyal had been current, the veteran industrialist spoke concerning the authorities’s ‘stifling of criticism’, amongst different issues.
“This environment of fear, it’s definitely on our minds. ?You (the government) are doing good work; and despite that, we don’t have the confidence that you’ll appreciate criticism,” he had mentioned.
Bajaj was recipient of many awards, together with the Padma Bhushan and honorary doctorates from many universities.
He additionally held many different positions, together with the chairman of Indian Airlines and chairman of the board of governors of the Indian Institute of Technology, Bombay.
He was additionally 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.
Besides, he was a former member of the International Advisory Council of the Brookings Institution in Washington, DC.
The industrialist additionally spearheaded the CSR actions of the Bajaj Group of firms and charitable trusts together with Jamnalal Bajaj Foundation.
He had completed BA (Honours) in Economics from Delhi University, a regulation diploma from Mumbai University and an MBA from Harvard Business School.
#mute
