Rahul Bajaj, the former chairman of Bajaj group and Padma Bhushan-awardee, passed away on Saturday at the age of 83. “Rahul Bajaj died today at 2.30 pm. He died due to heart and lungs problems. He was admitted for past one month in Ruby hall hospital in Pune,” Dr Parvej Grant, chairman of Ruby Hall hospital told ANI.
He was counted among India Inc’s most prominent business leaders. He had over the years built his reputation of an outspoken leader who never shied away from making his position clear on policy concerning industry and others.
Born on June 10, 1938, Bajaj held a Bachelors degree in economics, a law degree from Mumbai University and an MBA from Harvard. He had been the chairman of the International Business Council, World Economic Forum.
Union Minister Nitin Gadkari in a tweet said that Bajaj’s contribution in the industry was significant. Bajaj led the group for five decades before stepping down as the chairman and whole-time director of Bajaj Auto Ltd in April last year.
He was the director of Bajaj Auto since 1 April 1970, and was last re-appointed as chairman for a full five-year term with effect from 1 April 2015.
Bajaj was at the helm when the India’s second-biggest motorcycle maker became a household name in the early 1970s with the launch of Bajaj scooters. It was under his leadership that the group ushered a two-wheeler era with its popular ‘Hamara Bajaj’ advertising.
NCP chief Sharad Pawar said that Rahul Bajaj was like a “lighthouse” for young entrepreneurs. He said Rahul Bajaj brought transformation in society especially in poor and middle-class people with his two-wheel technology – a Bajaj Bike!
He further said the affordable vehicle increased mobility, eased struggle for getting means of livelihood and became the tool of socio-economic change. “We Indian are deeply indebted for his immense contribution to the industry,” he said.
“I am grieved with a passing away of my very close friend. India has lost an industrialist, a philanthropist and a lighthouse for young entrepreneurs! Hamara Bajaj,” he said on Twitter.
Rahul Bajaj over the years made the way and handed over the reins to his sons Rajiv and Sanjiv. He was also elected to the Rajya Sabha as an independent in 2006.
In March 2019, Bajaj had stepped down as the chairman of Bajaj Finserv, the group’s financial services arm run by younger son Sanjiv, to take up the role of chairman emeritus.
With agency inputs
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