Industrialist Rahul Bajaj Dies At 83
Rahul Bajaj died at the age of 83.
Industrialist Rahul Bajaj has died at the age of 83 in Pune. He is survived by his three children Rajiv, Sanjiv and Sunaina.
Bajaj, who was the erstwhile chairman of Bajaj Auto, had a long career in Indian industry, leading one of the country's oldest business groups. Known for his frank words, over the years Bajaj became a leading voice of Indian industry.
Rahul Bajaj was born on June 30, 1938 in Kolkata. His grandfather Jamnalal Bajaj founded the Bajaj Group in 1926, according to information available on Bloomberg. Rahul’s father, Kamalnayan Bajaj succeeded Jamnalal in 1942. Kamalnayan started the precursor to Bajaj Auto in 1945 and then expanded into new businesses, including cement, electrical appliances and scooters, according to Bloomberg.
Rahul Bajaj took over the group in 1968 at the age of 30.
He later split Bajaj Auto into three units in 2008 -- Bajaj Auto, Bajaj Finserv and a holding company. Rahul Bajaj's sons Rajiv Bajaj and Sanjiv Bajaj are now managing the auto and finance companies respectively.
The Bajaj family tree. (Image: Bajaj Group website)
Reactions poured in from industry and political leaders on news of Rahul Bajaj's passing.
"Rahul Bajaj Ji will be remembered for his noteworthy contribution to the world of commerce and industry," wrote Prime Minister Narendra Modi.
"Rahul Bajaj was passionate about his work. He spoke for the entire industry and mentored many budding entrepreneurs," said Finance Minister Nirmala Sitharaman.
President Ram Nath Kovind said that Bajaj's career reflected the rise and innate strength of the nation's corporate sector.
Business leaders from Anand Mahindra to Baba Kalyani and Kiran Majumdar Shaw also offered condolence via their Twitter handles.
"Your footprints on the sands of Indian business will never be extinguished," wrote Anand Mahindra.
"It's a great loss," Baba Kalyani, founder and chairman of Bharat Forge told BloombergQuint. "Rahul Bajaj has been one of the tallest business leaders India has ever had. Great entrepreneur, great industrialist and a great friend."
"I am devastated - he was a dear dear friend and will miss him dearly. The country has lost a great son and nation builder," said Biocon's Kiran Majumdar Shaw on her Twitter page.
"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", Uday Kotak, CEO, Kotak Mahindra Bank wrote on Twitter.
"Mr Bajaj was a pioneer in the auto manufacturing sector", Dinesh Khara, chairman of State Bank of India told BloombergQuint. "He has set up a stunning company like Bajaj Auto. It is an absolute loss to the nation. We have today lost a visionary".
"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. My sincere condolences to his family and numerous members of the Bajaj family and Bajaj group of business", wrote P Chidambaram, Former Finance Minister on Twitter
"I am deeply shocked to learn about the sad demise of Padma Bhushan Shri Rahul Bajaj! The grandson of eminent freedom fighter Jamnalal Bajaj brought transformation in society especially in poor and middle-class people with his two-wheel technology - a Bajaj Bike!", said Sharad Pawar, Former Defence Minister and President, NCP
"Hard to come to grips with the news that India’s most outspoken industrialist, Rahul Bajaj is no more," said Milind Deora, member of the Congress Party on Twitter.
"I have many fond memories of Rahul Bajaj spread over 40 years of friendship. He laid the foundations for the success of Bajaj Auto. He was fearless. One of the few businessmen who spoke out against the 2002 communal riots,and against the climate of fear & intimidation since 2014", wrote Jairam Ramesh, Former Environment Minister on twitter
