Remembering Shashikant Ruia: The Visionary Behind Essar Group's Rise To Global Prominence (Image: Essar.com)

As we bid adieu to Shashikant Ruia, the co-founder of Essar Group, we take a moment to reflect on his extraordinary life, achievements and the unerasable mark he left on the business world.

Since his passing, let’s get acquainted with his visionary approach and insightful leadership that catapulted Essar Group to unprecedented heights.

Born in April 1949, Shashikant Ruia, also known as Shashi Ruia, hailed from a humble background. His early life was marked by a keen interest in business and commerce which eventually led him to co-found Essar Group in 1969 with his brother Ravi Ruia, as they are commonly referred to as the Ruia brothers.

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What began as a small trading company in Mumbai soon blossomed into a global conglomerate with diverse interests in energy, steel, telecommunications and infrastructure.

Under Ruia’s astute leadership, Essar Group expanded its footprint globally with investments spanning 35 nations. His business acumen and strategic partnerships played a pivotal role in driving the company’s growth.

His illustrious achievements include the development of Essar Steel, one of India’s largest private-sector steel producers, and Essar Oil, which boasted one of the largest oil refineries in India.

Ruia’s foray into the power sector with Essar Power further solidified the group’s presence in the energy arena.

Ruias’ leadership style was characterised by his assertive yet collaborative approach with a strong hold on innovation and strategic partnerships. His ability to forge key acquisitions and international partnerships contributed vastly to Essar’s success.

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Despite being a private person, Ruia’s influence on the business world was undeniable. As we remember Shashikant Ruia, we honour his legacy as a visionary entrepreneur who transformed Essar Group into a global powerhouse.

Following his demise, the Essar family wrote: “An iconic industrialist, Shri Shashikant Ruia, Chairman, Essar Group, played a significant role in redefining India’s corporate landscape. He laid the foundation of the Essar Group and made it a global conglomerate. Shri. 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.”