Rahul Bajaj, doyen of Indian industry, passes away

Bajaj’s astute entrepreneurship combined with his determination to boost the Indian manufacturing industry is what set him apart from his peers.

Rahul Bajaj.

Rahul Bajaj, chairman emeritus of the Bajaj Group of companies and business icon, passed away after a prolonged illness in Pune on February 12. The 83-year-old corporate czar was highly regarded in the country for his instrumental role in building the automobile and two-wheeler industry. A former Rajya Sabha member, recipient of the Padma Bhushan and several global awards, Bajaj was recognised for his contribution towards building India’s economy and for his steadfast commitment towards protecting domestic industry. Bajaj will be cremated with full state honours in his home town Pune, says an official release from the Maharashtra government.

Bajaj took over the Bajaj Group in 1965 and steered it into an Rs.8.4 Lakh crore conglomerate that had a presence in the auto sector, in insurance, consumer finance, home appliances, steel, wind energy, electric lights and bulbs, and travel. The famous "Hamara Bajaj" tag line for the Bajaj scooter is said to have captured India’s aspiring middle class and the scooter itself became a symbol of achievement. The Bajaj sunny scooter is believed to have liberated and given the young Indian woman much-needed independence in terms of mobility.

Bajaj’s astute entrepreneurship combined with his determination to boost the Indian manufacturing industry is what set him apart from his peers. Those who knew him point out that he had faith in Indian quality, and while it is established that manufacturing generates employment, Bajaj made it happen. He can be credited with singularly creating jobs for lakhs of people across the country.

Never to be cowed down, Bajaj was known as the fearless voice of India Inc. In the 1970s he fought against economic restrictions on manufacturing. When the 1991 reforms began rolling out, he protested against the removal of protectionist policies, and he voiced his disapproval when India became a signatory to the World Trade Organisation (WTO) treaties. While many others of the famous "Bombay Club" (a group of top industrialists) capitulated under the present regime’s economic policies, Bajaj held out. His questioning of Amit Shah, Union Home Minister, at a conference of corporate leaders in 2019 was vintage Bajaj — bold and forthright.