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Rahul Bajaj

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Rahul Bajaj
Bajaj in 2014
Born(1938-06-10)10 June 1938
Calcutta,Bengal Presidency,British India
Died12 February 2022(2022-02-12)(aged 83)
Pune,Maharashtra,India
Alma mater
Occupation(s)Chairman emeritus,Bajaj Group
Political partyIndian National Congress
Spouse
Rupa Bajaj
​
​
(m.1961; died 2013)​
Children3; includingRajivandSanjiv
FatherKamalnayan Bajaj
Relatives
AwardsPadma Bhushan(2001)

Rahul Bajaj(10 June 1938 – 12 February 2022) was an Indian billionaire businessman and politician.[1]He was the chairman emeritus of the Indian conglomerateBajaj Group.[2]He was awarded the third-highest civilian award inIndia,thePadma Bhushan,in 2001.[3]

Early life

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Bajaj was born on 10 June 1938, toKamalnayan Bajajand Savitri Bajaj.[4]He was the grandson of Indian independence fighter,Jamnalal Bajaj,who was a close associate ofMahatma Gandhi.[5][6]Bajaj was an alumnus ofHarvard Business Schoolin the US,St. Stephen's College, Delhi,Government Law College, MumbaiandCathedral and John Connon School.[7][8]

Career

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Bajaj speaking at the 2016Horasis Global Meeting.

Bajaj took over theBajaj Groupin 1965.[9]In a career spanning over five decades, he led the turnover of the group's flagship company,Bajaj Auto,from₹7.5 croreto₹12,000 crore,with the company's scooterBajaj Chetakbeing the main growth driver.[10]

Bajaj stepped down from his role in 2005 and his sonRajivbecame the Group's managing director.[11]Bajaj led the split of Bajaj Auto into three units in 2008:Bajaj Auto,Bajaj Finservand a holding company.[12]He resigned as chairman and non-executive director of Bajaj Finserv to become chairman emeritus in March 2019.[13]In April 2021, Bajaj stepped down as non-executive chairman of Bajaj Auto, ceding the position to his cousin, Niraj Bajaj, and remained with the company as chairman emeritus.[2]

Bajaj was elected to theRajya Sabha,India's Upper House of Parliament, filling the seat vacated by the death ofPramod Mahajanfor the 2006–2010 period.[14]

Bajaj was elected as the president of theConfederation of Indian Industry(CII) twice, in 1979–1980 and 1999–2000.[15]For his outstanding work to the Indian industry, the then President of India,Pranab Mukherjee,presented him with CII President's Award for Lifetime Achievement in 2017.[16]

Some of the other positions that Bajaj held included chairman ofIndian Airlines,chairman of the International Business Council at theWorld Economic Forum,chairman of the board atIndian Institute of Technology Bombay,member of the International Advisory Council at theBrookings Institution,and a member of the South Asia advisory board atHarvard Business School.[10]

Bajaj received thePadma Bhushan,India's third-highest civilian honour, in 2001.[3]

On theForbes,2016 list of the world's billionaires, he was ranked No. 722, with a net worth ofUS$2.4 billion.[2]

Personal life and death

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His sonsRajiv BajajandSanjiv Bajajare involved in the management of his companies. His daughter Sunaina is married to Manish Kejriwal, the former head of Temasek India.[17][18]

Bajaj died frompneumoniaon 12 February 2022, at the age of 83. He was earlier admitted to theRuby Hall Clinicin Pune, and was undergoing treatment at the hospital. He also had cancer and heart problems prior to his death.[19][20][21]

References

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  1. ^"Who Is Rahul Bajaj".Business Standard.Retrieved6 July2020.
  2. ^abc"Forbes profile: Rahul Bajaj".Forbes.Retrieved1 July2021.
  3. ^ab"Rahul Bajaj conferred Padma Bhushan".The Hindu Business Line.22 March 2001. Archived fromthe originalon 6 July 2013.Retrieved25 December2012.
  4. ^Upadhye, Swati (2017).Rahul Bajaj: Great Personalities Of India.Diamond Pocket Books Pvt Ltd.ISBN978-81-288-2247-6.
  5. ^"Rahul Bajaj Story - Chairman Of Bajaj Group".successstory.Retrieved5 July2018.
  6. ^Taknet, D. K.(2016).The Marwari Heritage.IntegralDMS. p. 254.ISBN978-1-942322-06-1.Retrieved12 November2019.
  7. ^"Alumni Achievement Awards – Rahul Bajaj, MBA 1964".Harvard Business School.Archived fromthe originalon 13 November 2012.Retrieved25 December2012.
  8. ^Khan, Iram (10 June 2018)."Birthday Special: The motivational businessman, Rahul Bajaj".News Track.Retrieved7 February2021.
  9. ^Natay, Lola (24 March 2017)."Rahul Bajaj, Bajaj Group".Outlook India.Retrieved6 July2018.
  10. ^abBose, Mrityunjay (12 February 2022)."Former Bajaj Auto chairman Rahul Bajaj passes away at 83".Deccan Herald.Retrieved12 February2022.
  11. ^Narasimhan, Laxman (1 September 2010)."Learning from emerging markets: An interview with Bajaj Auto's Rajiv Bajaj".McKinsey & Company.Retrieved6 July2018.
  12. ^Master, Ammar; Staney, Nesil (26 May 2008)."Restructuring over, two Bajaj companies to be listed today".Livemint.Retrieved2 April2020.
  13. ^PTI (13 March 2019)."Rahul Bajaj resigns as Bajaj Finserv Chairman".The Economic Times.Retrieved7 February2021.
  14. ^"Rahul Bajaj elected to Rajya Sabha".The Times of India.PTI. 15 June 2006.Retrieved12 February2022.
  15. ^"CII Past Presidents".Retrieved23 October2020.
  16. ^"Rahul Bajaj bagged CII President's Award for Lifetime Achievement".United News of India.27 April 2017.Retrieved23 October2020.
  17. ^Adhikari, Anand (26 March 2006)."Billion Dollar Dealer".Business Today.Archived fromthe originalon 13 October 2008.Retrieved7 February2021.
  18. ^Subramanian, Shobhana (11 November 2008)."Lunch with BS: Manish Kejriwal".Business Standard. Archived fromthe originalon 10 October 2012.Retrieved28 January2011.
  19. ^"Rahul Bajaj, former chairman of Bajaj Auto, passes away at 83".The Indian Express.12 February 2022.Retrieved12 February2022.
  20. ^"Industrialist Rahul Bajaj, Former Chairman Of Bajaj Group, Dies At 83".NDTV.Retrieved12 February2022.
  21. ^"Bajaj Group Chairman Emeritus Rahul Bajaj Passes Away At 83 After Prolonged Illness".ABP.12 February 2022.Retrieved22 February2022.

Further reading

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