Shashikant Ruia, one of the founders of the Essar Group, passed away at the age of 81 after battling an illness. Along with his brother Ravi, he successfully built the Essar Group into a global business empire in various industries. The funeral procession will be held on Tuesday towards the Hindu Worli Crematorium. Ruia's passing marks the end of an era for the first-generation entrepreneur and industrialist.
Shashi Ruia, Essar Group Co-Founder, Passes Away at 81
Shashikant Ruia, one of the pioneers behind the success of the Essar Group, passed away on Sunday at the age of 81. He had been battling an illness for some time.
Born in Jabalpur, Madhya Pradesh, in 1941, Mr. Ruia moved to Kolkata with his family at a young age and graduated from St. Xavier's College. He co-founded the Essar Group with his brother Ravi Ruia in 1969.
Essar Group: A Global Business Empire
Under the leadership of the Ruia brothers, Essar Group grew into a global business empire spanning various industries, including steel, energy, infrastructure, and technology. With a presence in over 20 countries, Essar Group employs over 100,000 people worldwide.
Mr. Ruia played a pivotal role in shaping Essar's international expansion. He was instrumental in establishing the company's presence in countries such as the United Kingdom, Canada, and the United States.
Awards and Recognition
Mr. Ruia's contributions to the business world were widely recognized. He received numerous awards and honors, including:
Legacy and Impact
The passing of Shashi Ruia marks the end of an era for the Indian business community. He was a visionary entrepreneur and industrialist who played a significant role in the economic development of India.
His contribution to Essar Group's growth and success will be long remembered. The company remains one of the largest and most diversified business groups in India, with a global footprint and a commitment to innovation.
Top 5 FAQs and Answers
1. What caused Shashi Ruia's death? A: Shashi Ruia passed away after battling an illness. The exact cause of his death has not been disclosed.
2. What is the impact of Shashi Ruia's death on Essar Group? A: Essar Group has not yet formally commented on the impact of Shashi Ruia's death on the company. However, it is expected that his absence will be felt in terms of leadership and strategic direction.
3. Who will succeed Shashi Ruia as chairman of Essar Group? A: The Essar Group has not yet announced a successor to Shashi Ruia as chairman. It is likely that an internal or external candidate will be considered for the role.
4. What is the future of Essar Group? A: Essar Group has a strong foundation and a track record of success. The company is well-positioned to continue growing and expanding its business operations.
5. What impact will Shashi Ruia's death have on the Indian business community? A: Shashi Ruia was a respected and influential figure in the Indian business community. His passing is a loss for the industry and the country as a whole.
Union Minister Nitin Gadkari has announced that the long-delayed plan to widen the Nagpur-Bhandara road into a six-lane highway will finally be implemented within the next three to four months. This decision comes after the project had been stalled for several years due to complications with the previous BOT operator. The new plan will cost Rs 1,053 crore and is expected to significantly improve road safety in the region.
The TDP and BJP have a long history of alliances in Andhra Pradesh, starting with their first election together in 1983. They have faced challenges and successes throughout their partnership and have played a crucial role in national politics. As they join hands once again in 2024, they aim to continue their legacy of providing an alternative to Congress and promoting regional pride in Andhra Pradesh.
The Airline Pilots' Association of India (ALPA India) has condemned the ongoing investigation into the Air India flight AI171 crash on June 12 for appearing to presume pilot error as the cause. ALPA India, a member of the International Federation of Airline Pilots' Associations, has alleged secrecy and lack of transparency in the probe and called for its representatives to be allowed observer status. The preliminary report by the Aircraft Accident Investigation Bureau (AAIB) did not assign blame, but raised concerns about the fuel control switch gates and recorded a denial from the pilots when questioned about the fuel shutoff. The association insists on a fact-based and non-prejudiced investigation to ensure the integrity of the final report.
Mohd Oumar Farooq, a successful entrepreneur and strategic thinker, believes that uncertainty should not be feared, but embraced as a window of opportunity. He encourages entrepreneurs to observe patterns, stay close to the ground, and prioritize agility over perfection to spot untapped market gaps. A shift in mindset and utilizing technology can also unlock new opportunities during uncertain times. With the right approach, uncertainty can be a powerful driver of innovation and growth in business.
In a potential disaster, a high-tension electric wire snapped over the Mahanadi River in Cuttack, sparking concerns over the safety of nearby areas. However, thanks to the swift action of the National Disaster Response Force (NDRF), the situation was brought under control with no reported injuries. This incident has raised questions about the safety of critical infrastructure over major water bodies, especially during the monsoon season. Officials are currently investigating the exact cause of the breakage and taking precautionary measures to prevent similar incidents in the future.
Mistry.Store, the first exclusive online platform for home building materials in India, has announced the launch of a new app designed specifically for architects, designers, and contractors. With features such as a comprehensive product catalogue, simplified ordering process, and expense and project management tools, the app aims to streamline the requirements of these professionals. Founded in 2022, Mistry.Store has already onboarded 2500+ professionals in Delhi and NCR and expects to onboard more as it expands its reach.
Tesla, a leading electric vehicle (EV) company, has finally announced its foray into the Indian market with its first showroom opening in Mumbai this month. The company faced several delays due to import taxes and regulatory hurdles, but is now set to launch its first Experience Centre at the Bandra Kurla Complex. Tesla plans to offer six models in India with varying prices, starting from $40,000 and going up to $46,000. The company also plans to expand to Delhi and Bengaluru in the coming months, amidst new government rules aimed at boosting the production of electric cars in the country.
The highly anticipated Amazon Prime Day Sale is now live, offering some of the best deals on smartphones, electronics, and more. Popular brands like Samsung, OnePlus and Apple are offering attractive discounts on select models. Don't miss out on the opportunity to grab the Samsung Galaxy S24 Ultra, Apple iPhone 16e, OnePlus 13, and iPhone 15 at discounted prices.
New research has shown the use of artificial intelligence can create a highly productive and respectful performance review conversation between managers and employees. In contrast to the traditional approach, Samvāda 2.0 encourages managers to use communicative GenAI tools, like ChatGPT or Copilot, to get prepared for a critical PRM session. This new and improved method ensures a mutual understanding, collaboration, and trust between the manager and employee, leading to more effective performance reviews.
The much-anticipated Amazon Prime Day Sale has officially begun, offering early deals until July 14. As an exclusive event for Prime members, this sale boasts discounts on popular electronics, including smartphones, smart TVs, air conditioners, and laptops from top brands like OnePlus, Samsung, iQOO, and more. With savings reaching up to 80%, it's a must-visit for tech enthusiasts and online shoppers alike.