Shashi Ruia started his career under the guidance of his father and went on to establish the Essar Group as a global conglomerate. He was an iconic figure in the Indian business world, having been involved in various influential organizations such as FICCI and the PM's Indo-US CEO's Forum. His contributions to the corporate landscape will be remembered and honored by many.
Background
Essar Group is a multinational conglomerate headquartered in Mumbai, India. Founded in 1969 by Shashi Ruia and Ravikant Ruia, the group has grown into a diversified enterprise with operations in various industries such as energy, steel, logistics, infrastructure, and technology.
Under the stewardship of Shashi Ruia, Essar Group expanded its global footprint and became a leading industrial player. Ruia was an influential figure in Indian business circles, serving as the President of the Federation of Indian Chambers of Commerce and Industry (FICCI) and a member of the Prime Minister's Indo-US CEO's Forum.
Current Status
Today, Essar Group is a major contributor to the Indian economy, employing over 100,000 people worldwide. The group's operations span across multiple continents, with a presence in countries such as India, the United Kingdom, the United States, Canada, and China.
Essar's energy business includes oil and gas exploration and production, refining, and power generation. Its steel division produces high-quality steel products for various sectors, including construction, automotive, and infrastructure. The group also has a significant presence in logistics, operating ports, terminals, and shipping companies.
Leadership
After Shashi Ruia's passing in 2022, his younger brother, Ravi Ruia, took over as the Group's Chairman. Ravi Ruia has been involved in the Essar Group since its inception and has held various leadership positions within the organization. He has a strong track record in managing large-scale projects and driving growth.
Top 5 FAQs and Answers
1. Who founded Essar Group? Answer: Shashi Ruia and Ravikant Ruia
2. When was Essar Group founded? Answer: 1969
3. What are the primary industries in which Essar Group operates? Answer: Energy, steel, logistics, infrastructure, and technology
4. Who is the current Chairman of Essar Group? Answer: Ravi Ruia
5. What is Essar Group's annual revenue? Answer: Approximately $12 billion (as of 2022)
Conclusion
Essar Group, under the leadership of Shashi Ruia and now Ravi Ruia, has made a significant contribution to India's industrial growth and economic development. The group's diversified portfolio, global presence, and commitment to innovation position it well for continued success in the years to come.
People have queued up outside Apple Stores across India to get their hands on the latest iPhone 17, 17 Pro, and iPhone Air models. The sale started on Friday, 19th September and some were even seen lining up since 8 PM the day before. However, as people rushed to get their hands on the new devices, a scuffle broke out outside the Apple BKC Store in Mumbai. This led to the police being called in to control the situation. Despite the chaos, customers are excited about the new designs, camera upgrades, and color options of the new iPhone 17 series.
In a recent report, global brokerage firm Jefferies has stated that HDFC Bank continues to be its top banking choice, with a target price of Rs 1,200 per share. The report cites improving loan growth, stable asset quality, and operational efficiencies as key factors expected to drive earnings and valuations. The bank's management also shared positive insights on demand revival and easing competitive intensity in the market.
The highly anticipated iPhone 17 series has finally hit the Indian market, with its sale starting in Mumbai today. Excited customers have been seen standing in long queues since early morning, eager to get their hands on the new phone. Some lucky customers have already managed to purchase the phone, with one person even buying two iPhone 17 Pro Max models in different storage sizes. The buzz and demand for the new phone seemingly shows the continuation of the "Apple fever" in India.
The Chhattisgarh government has signed an MoU with Continental Hospitals, Telangana, to operate a state-of-the-art 240-bed hospital in Bastar district. The hospital, built at a cost of Rs 200 crore, will provide advanced medical care to citizens, especially those in tribal regions, at government-prescribed rates. This project marks a significant milestone for Chhattisgarh as it celebrates its silver jubilee and will also benefit security forces who were previously airlifted to other cities for medical treatment.
The Adani Group companies saw a significant surge in their share prices as SEBI gave a clean chit to the conglomerate in connection with the allegations made in the Hindenburg report. The market regulator confirmed that no penalties or liabilities would be imposed on the group, stating that the allegations could not be substantiated. This decision brings a major relief for the Adani Group, as the proceedings against key entities and top executives have been officially closed.
The Indian equity benchmark indices, Sensex and Nifty, opened on a negative note on Thursday, as the Sensex fell by 67.92 points and the Nifty by 13.4 points. However, the broader indices traded in green in the opening session. From the Sensex pack, Adani Ports, Infosys, Maruti, Hindustan Unilever, and NTPC were among the major gainers, while Mahindra & Mahindra, Bajaj Finance, Bharti Airtel, ICICI Bank, and State Bank of India were among the laggards. The Nifty 50, an early indicator for the Nifty, also opened in the red with a fall of 59 points. Asian shares traded mixed on Friday as Wall Street rose after Nvidia and Intel announced a deal that includes a $5 billion investment.
The Indian government has stepped in to support its exporters amidst high tariffs imposed by the US. This includes providing assistance and facilitating access to domestic buyers for exporters. However, India may face challenges in the coming months with additional tariffs on Russian oil, impacting its export growth to the US.
After nearly four days of striking and thousands of passengers being stranded, the Canadian Union of Public Employees (CUPE) and Air Canada have reached a tentative agreement, bringing a halt to the strike. The airline plans to gradually resume flights starting Tuesday evening, but warns that it could take up to a week before operations return to normal. The deal, still to be ratified by union members, addresses key issues such as pay and hours, and is described as bringing "transformational change" for workers and the industry. Passengers are advised to only head to the airport if they have confirmed bookings.
Indian equity markets saw a positive start on Thursday, September 18, 2025 due to the US Federal Reserve's decision to cut interest rates by 25 basis points. The Sensex and Nifty indices opened with significant gains, with major tech companies like Infosys and HCL tech leading the pack. However, Bajaj Finance and other financial institutions faced some losses in the opening session. With Gift Nifty indicating a positive start and strong investments by Foreign and Domestic Institutional Investors, experts predict better market conditions in the coming days.
After nearly four days of cancelled flights and stranded passengers, Air Canada has reached a tentative agreement with the union representing its cabin crew. The company plans to resume operations gradually on Tuesday evening, but it could take a week for full service to resume. The deal, which still needs to be ratified by union members, includes "transformational change" for workers and the industry. Passengers are advised to only head to the airport if they have confirmed bookings.