Essar Group's Shashikant Ruia: A Visionary Leader Passes Away

Prime Minister Narendra Modi expressed grief over the death of Shashikant Ruia, co-founder of Essar Group, praising his transformative vision. Ruia, an iconic industrialist, significantly impacted India's corporate sector, founding Essar Group in 1969. He passed away at 81, leaving a legacy of innovation and excellence in business.

On Tuesday, Prime Minister Narendra Modi expressed his heartfelt condolences following the passing of Shashikant Ruia, the esteemed co-founder and chairman of the Essar Group. Highlighting Ruia's tremendous impact on India's industrial landscape, Modi described him as a 'colossal figure' with visionary leadership that set high standards for innovation and growth.

In a tribute, the Ruia family confirmed the patriarch's demise at age 81, lauding his pivotal role in transforming Essar Group into a global business powerhouse since its inception in 1969. Shashikant Ruia's legacy persists in redefining India's corporate realm, driven by his innovative initiatives and global influence.

The esteemed industrialist passed away on November 25 in Mumbai, marking an end to a career that spanned over five decades. Under Ruia's leadership, Essar Group, known as EGFL, expanded its ventures across sectors like energy, infrastructure, metals, and technology, boasting an Assets Under Management (AUM) of USD 9.5 billion as of March 2023.

(With inputs from agencies.)