End of an era: Noted industrialist Rahul Bajaj passes away at 83

Rahul Bajaj, the Bajaj Group patriarch and a veteran industrialist, passed away in Pune at 2:30 pm. Bajaj, 83, wasn’t keeping well. His last rites will be performed in Pune on Sunday, according to the Bajaj Group’s communication team.

Known for his plain speak and a harsh critique of the government’s policies since the pre-liberalisation era, the Padma Bhushan awardee was a Harvard Business School alumnus. He was known in corporate circles as the man who does not mince words when it came to any matter of national interest, or echoing corporate India’s woes.

Condolences poured in on Twitter from various quarters over the noted industrialist’s death. Former Union Minister, Jairam Ramesh wrote 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 and intimidation since 2014.”

“I am devastated—he was a dear dear friend and will miss him dearly. The country has lost a great son and nation builder. Om Shanti,” wrote Kiran Mazumdar-Shaw, chairman, Biocon.

After several decades at the helm, the Bajaj group patriarch stepped down as chairman of the holding company, Bajaj Holdings & Investments, Bajaj Auto, and Bajaj Finserv on March 31, 2020.

“He was the whole-time director and chairman of the automobile making arm since April 1, 1970. He decided not to continue as a whole-time director of the company after the expiry of his term,” the company had said in a notification to the stock exchanges.

He oversaw the successful transition of Bajaj Auto from the ‘Hamara Bajaj’ days through its popular Chetak brand of scooters to the World’s Favourite Indian — Bajaj now sells its motorcycles in over 70 countries. Bajaj, who played an active role in the affairs of the company till 2005, took a backseat in group companies, passing on the baton to the elder son, Rajiv Bajaj, for the auto business, and for the financial services business to the younger son, Sanjiv Bajaj.

On November 30, 2019, at an awards event organised by the Economic Times in Mumbai, Rahul Bajaj said he was “born anti-establishment”.

In the 1970s, when Italy’s Piaggio didn’t renew Bajaj’s licence, he began manufacturing his own brand of scooters with names like Chetak and Super.

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