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Essar Group co-founder Shashikant Ruia passes away
A first generation entrepreneur, Shashi Ruia started his career in 1965 under the mentorship of his father Nand Kishore Ruia. Then, along with his brother Ravi, he planted the seeds of Essar Group's foundation, and then planned its business strategy, growth and diversification, stated a media report.
Ruia, who was on several national bodies and industry associations, was a part of FICCI's (Federation of Indian Chambers of Commerce and Industry) managing committee. He headed Indo-US Joint Business Council as chairman, and was also the president of the Indian National Shipowners Association. (Image source: ABLF)
Shashi Ruia, co-founder of Essar Group and an Indian billionaire, passed away at the age of 81 on November 25.
A first generation entrepreneur, Ruia started his career in 1965 under the mentorship of his father Nand Kishore Ruia. Then, along with his brother Ravi, he planted the seeds of Essar Group's foundation, and then planned its business strategy, growth and diversification.
Ruia, who was on several national bodies and industry associations, was a part of FICCI's (Federation of Indian Chambers of Commerce and Industry) managing committee. He headed Indo-US Joint Business Council as chairman, and was also the president of the Indian National Shipowners Association. He was also a member of the Prime Minister's Indo-US CEO's Forum and India – Japan Business Council.
Essar Group lauded Shashi Ruia's monumental contributions to India's corporate evolution, emphasizing his transformative journey in building the Essar Group into a global conglomerate.
In its statement, the group remarked, "Shashikant Ruia’s extraordinary legacy will remain a guiding light for all of us, as we honour his vision and continue to uphold the values, he cherished and championed."
It is with profound grief that we inform of the passing of Shri Shashikant Ruia, Patriarch of the Ruia and Essar Family. He was 81.
— Essar (@Essar) November 26, 2024
With an unwavering commitment to community upliftment and philanthropy, he touched millions of lives leaving an enduring impact. His humility,… pic.twitter.com/g2RvI4MEST
Prime Minister Narendra Modi also mourned Ruia's passing, calling him a "colossal figure in the world of industry" in a heartfelt post on X.
Modi praised Ruia's visionary leadership and dedication to innovation, which set new benchmarks for India's business landscape. "Shri Shashikant Ruia Ji was a colossal figure in the world of industry. His visionary leadership and unwavering commitment to excellence transformed the business landscape of India. He also set high benchmarks for innovation and growth. He was always full of ideas, always discussing how we can make our country better. Shashi Ji’s demise is deeply saddening. My deepest condolences to his family and loved ones in this hour of grief. Om Shanti," the PM expressed.
Shri Shashikant Ruia Ji was a colossal figure in the world of industry. His visionary leadership and unwavering commitment to excellence transformed the business landscape of India. He also set high benchmarks for innovation and growth. He was always full of ideas, always… pic.twitter.com/2Dwb2TdyG9
— Narendra Modi (@narendramodi) November 26, 2024
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