Shashikant Ruia, co-founder and Chairman of Essar Group, passed away at 81 after a prolonged illness. Known for his visionary leadership, Ruia played a pivotal role in shaping India’s corporate landscape and making Essar a global conglomerate. His journey from a modest family business to establishing a world-class enterprise is a testament to his exceptional acumen, commitment to innovation, and dedication to philanthropy.
Summary/Static | Details |
Why in the news? | Essar Group Chairman Shashi Ruia Passes Away |
Role | Co-founder and Chairman of Essar Group |
Key Contributions | – Established India’s first Independent Power Producer in 1991. – Pioneered mobile telephony services in India. – Diversified Essar into energy, telecom, steel, and infrastructure sectors. |
Global Presence | Essar’s portfolio generates $14 billion annually and spans over 50 global assets. |
Recognition | – Member of FICCI, Indo-US Joint Business Council, and Indian National Shipowners Association. – Funded The Elders initiative tackling global challenges. |
Legacy | – Visionary leader transforming India’s corporate landscape. – Remembered for philanthropy and innovative leadership. |
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