Rahul Bajaj, one of India’s most illustrious industrialists and the man who gave wheels to millions of Indians, passed away on Saturday in Pune; he was 83.
Condolences poured in from near and far following his demise. Prime Minister Narendra Modi stated that Rahul Bajaj would be remembered for his “noteworthy contributions to the world of commerce and industry”. He was also passionate about community service and a great conversationalist, Modi said.
“A doyen of Indian industry, he was passionate about its priorities. His career reflected the rise and innate strength of the nation’s corporate sector. His death leaves a void in the world of industry,” said President Ram Nath Kovind.
The Bajaj Group was founded by freedom fighter Jamnalal Bajaj in 1926. Rahul Bajaj’s father Kamalnayan succeeded Jamnalal in 1942. Rahul Bajaj took over as Bajaj Auto CEO in 1968. In pre-liberalisation India, decades before motorcycles became a common sight on Indian roads, Bajaj became a household name through geared scooters like Priya and Chetak, which became huge hits. For middle class India, it was these scooters that provided mass mobility in the 1970s and 80s and owning it gave a sense of pride. Waiting list for the Bajaj scooters ran into years.
“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,” said former finance minister P. Chidambaram.
Post liberalisation in the 1990s, as geared scooters lost momentum to motorcycles, Bajaj Auto took on the multinationals like Honda and Suzuki with its own successful brand of bikes like Pulsar. Through the decades, Bajaj also became synonymous with three-wheeler auto rickshaws and even today, the company remains the market leader in this space.
Rahul Bajaj had stepped down as the chairman of Bajaj Auto last year. He was then appointed as the chairman emeritus of the company. Bajaj who was among the longest serving chairmen in corporate India and also a Rajya Sabha MP, was honored with the Padma Bhushan, the country’s third highest civilian award, in 2001.
Uday Kotak, the managing director and CEO of Kotak Mahindra Bank, noted Bajaj was bold and fearless. Congress leader Rahul Gandhi, too, said: “India had lost a visionary whose courage made us proud.”
Indeed, Bajaj was an outspoken businessman and one who would not shy away from taking on the establishment. “You (government) are doing a good job, but... we don’t have the confidence you will appreciate criticism,” he said at an awards ceremony in 2019, with Home Minister Amit Shah and other ministers in attendance.
“A rare businessman who spoke truth to power. A proud Indian. Built world class enterprise,” summed up Kotak on Bajaj.
Offering his condolences, Amitabh Kant, the CEO of Niti Aayog, also said he admired him for being frank and fearless and that India had lost a great nation builder.
“Rahul Bajaj was the captain and voice of Indian industry. He was the doyen of manufacturing and truly the pillar of the auto industry,” Kant said.
“The country has lost a great son and nation builder,” stated Kiran Mazumdar-Shaw, the executive chairperson of Biocon. “I am devastated,” she said.
In 2008, Bajaj Auto was split into three firms—one that would oversee the automobile business, another would drive the finance business and third a holding company.
After Bajaj decided to step down as chairman of Bajaj Auto last year, cousin Niraj Bajaj was appointed the chairman. Rahul Bajaj is survived by his three children—Rajiv, Sanjiv and Sunaina. While elder son Rajiv is the managing director of Bajaj Auto, younger son Sanjiv Bajaj is the chairman and managing director of financial services firm Bajaj Finserv.
