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.
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