Rahul Bajaj – the no-nonsense, straight talking doyen of India Inc — passed away at a private hospital in Pune at the age of 83.

Bajaj, who had stepped down as the non-executive director and chairman of Bajaj Auto in April last year, was not keeping well for some time. He was admitted to Ruby Hall Clinic hospital for over a month and reportedly died of pneumonia and heart related problem.

His last rites will be held on Sunday. Maharashtra chief minister Uddhav Thackeray said that Bajaj will be accorded a state funeral.

Bajaj is survived by two sons, Rajiv and Sanjiv Bajaj, and a daughter Sunaina Kejriwal.

“It is with deep sorrow that I inform you about the passing away of Shri Rahul Bajaj, husband of the late Rupa Bajaj and father of Rajiv/Deepa, Sanjiv/Shefali and Sunaina/Manish. He passed away on the afternoon of 12th February, 2022 in the presence of his closest family members," a statement from Bajaj Group read.

Born on June 10, 1938 in Calcutta, he graduated with an honours degree in Economics from St Stephen’s College, Delhi in 1958. He also had a degree in Law from Bombay University and an MBA from Harvard Business School.

He took charge of the Bajaj group business in 1965 and successfully navigated through the shoals of the licence raj and successfully beat back competition unleashed during the liberalisation era in the two-wheeler segment.

The company’s Bajaj Chetak scooter became an aspirational symbol for the middle class Indian families even as the ‘Hamara Bajaj’ campaign also became a household hit, back in 1989.

Under his leadership, flagship firm Bajaj Auto saw its turnover growing to Rs 12,000 crore from just Rs 7.2 crore even as the group successfully ventured into the arena of financial services. A dream to establish a bank, however, remained unfulfilled.

He also ushered in a seamless transition with son Rajiv Bajaj donning the role of managing director in 2005.

In 2007, Bajaj Auto split into three entities: an automobile business, a financial services entity and a holding company. While Rajiv headed the auto business, younger son Sanjiv was given charge of the financial services business. Bajaj Finance is now among the largest non-banking finance companies in India with a market value of almost Rs 4.23 trillion.

“I was born anti-establish ment… it’s very difficult for me to praise anybody,” Bajaj once said.
He sent shock waves in November 2019 when he slammed the Modi government for stifling criticism and creating a climate of fear — a sideswipe that was made in the presence of home minister Amit Shah, finance minister Nirmala Sitharaman and commerce minister Piyush Goyal.

Bajaj famously said: “We are afraid.... This atmosphere is definitely on our minds, but nobody will talk about it…I will say that openly. But a better reply has to come, not only a denial…. An environment has to be created. A clean environment is very important.”

Tributes poured in from different quarters on the news of his death.

“Rahul Bajaj ji will be remembered for his noteworthy contributions to the world of commerce and industry. Beyond business, he was passionate about community service and was a great conversationalist. Pained by his demise. Condolences to his family and friends. Om Shanti,” tweeted Prime Minister Narendra Modi.

“Sad that country’s iconic industrialist Rahul Bajaj is no more. He leaves behind a great legacy with far-reaching contributions to the Indian economy. My deepest condolences to his family, friends, and followers,” Bengal chief minister Mamata Banerjee said in a tweet.

“Rahul Bajaj’s passing is a big loss to India. We have lost a visionary whose courage made us proud,” Congress leader Rahul Gandhi said.

“The ‘spine’ of Indian business cracks. A close family friend, he was a visionary, straight talking and very respected for his value systems. An era ends! He leaves behind the two most capable sons in Indian industry, Rajiv and Sanjiv,” Harsh Goenka, chairman of RPG Enterprises tweeted.

“Rahul Bajaj strode across the Indian industrial landscape like a colossus. He was among the few stars who created the Indian automotive industry,” said Venu Srinivasan, Chairman, TVS Motor Company said.

He was a pioneer who established a culture of quality and technology. He stood for high integrity in business and stuck to his principles. Rahul played a key role in industry bodies around the world like World Economic Forum and CII and was very well respected. He will be sorely missed’’