Essar Group Co-Founder Shashikant Ruia Dies At 81 (Image: X/Essar)
Shashikant Ruia, the co-founder of the Essar Group has died at the age of 81 after a long illness. He passed away on Monday, November 25, in Mumbai.
Ruia played a monumental role in shaping India’s corporate sphere. He laid the foundation of the Essar Group and turned it into a global conglomerate. Ruia was known for his humility, warmth and ability to connect with people from all walks of life which made him an exceptional leader.
The Essar Group announced Ruia’s demise on social media, saying, “He touched millions of lives through his commitment to community upliftment and philanthropy, leaving a lasting impact. His legacy will continue to guide us as we honour his vision and uphold the values he cherished.”
It is with profound grief that we inform you of the passing of Shri Shashikant Ruia, Patriarch of the Ruia and Essar Family. He was 81.
With an unwavering commitment to community upliftment and philanthropy, he touched millions of lives leaving an enduring impact. His humility,… pic.twitter.com/g2RvI4MEST
— Essar (@Essar) November 26, 2024
Shashikant Ruia was a highly respected Indian businessman who co-founded the Essar Group in 1969 with his brother Ravi Ruia.
He’s known for transforming Essar from a small construction firm into a global conglomerate with interests in energy, steel, telecommunications and infrastructure.
Born in April 1949 in India, Ruia grew up in a middle-class family with modest means. He developed a keen interest in business and commerce at a young age and went on to study mechanical engineering at the College of Engineering in Chennai.
Under Ruia’s leadership, Essar expanded its operations into various sectors including energy, oil and gas, telecommunications and infrastructure.
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The company grew its footprint globally with investments in 35 countries. Ruia’s vision and pursuit of innovation played a major role in building Essar‘s growth.
Ruia received several awards for his contributions to business and industry. He was also a member of several national bodies and industry associations, including the Federation of Indian Chambers of Commerce and Industry (FICCI).
Prime Minister Narendra Modi expressed his condolences on Ruia’s demise and he praised his visionary leadership and commitment to excellence. Modi noted that Ruia’s ideas and discussions on making India better were always inspiring to the young generation.
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
