A lion is resting now. Veteran industrialist Rahul Bajaj, who died Saturday at the age of 83, gave his corporate voice to business in a way no one else in Indian companies has ever been – and that’s how he spanned Indian industry like a giant for more than 50 years One of the many reasons for the layout.
After taking the helm of the Bajaj Group in 1965, Rahul, appointed by India’s first Prime Minister Jawaharlal Nehru, took the helm for four years and built a global manufacturing company before handing over the keys to the flagship Bajaj Auto in 2005 To son Rajiv Bajaj. During his lifetime, Rahul’s “Hamara Bajaj” not only evoked nationalism, but empowered and changed the lives of millions of middle-class Indians. If Bajaj ‘Sunny’ gave wings to young free-spirited girls in newly liberalized India, the company’s motorcycles have become a favorite among young Indians – because they foresee a demographic shift.
Today, the combined market capitalisation of the business empire comprising Bajaj Auto, Bajaj Finance, Bajaj Finserv and Bajaj Holdings and Investment Ltd is over Rs 8.4 lakh.
After PV Narasimha Rao bit the political bullet in 1991 and wrote the first chapter of India’s economic reforms, unlike several other big groups such as Modis, Mafatlals, Singhanias and Thapars, Bajaj took hold. While Rahul Bajaj did spearhead the formation of the Mumbai Club – a group of top industrialists including HS Singhania, Lala Bharat Ram and CK Birla at the time – demanding protection of domestic industry, he did not stop modernising. “He never lets these arguments get in the way of developing a globally competitive product,” noted Naushad Forbes, co-chairman of Pune-based Forbes Marshall and board director of Bajaj Holdings.
Prime Minister Narendra Modi offered his condolences, saying, “Shri Rahul Bajaj Ji will be remembered for his remarkable contributions to the business and industrial world. Apart from business, he was also passionate about community service and was an An excellent talker. Pained by his death. Condolences to his family and friends. Om Shanti.”
“He was a very unique person. He was both a competitor and a friend. He was also a friend of my father, who saw him as his guru. He was very clear about his values, right and wrong, a system builder. He not only established own company and a significant leader in the industry,” said Sunil Kant Munjal, Chairman of Hero Enterprise. “He didn’t hesitate to show a mirror to anyone, no matter what their stance, and he was a straight and fearless man,” he said.
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