CII condoles demise of its former president Rahul Bajaj

NEW DELHI: Condoling the death of veteran industrialist and

Bajaj Group

patriarch Rahul Bajaj, the Confederation of Indian Industry (

CII

) said the Indian industry has lost one of the tallest visionary leaders and his demise leaves a huge void in India Inc.

"Rahul Bajaj was a towering leader for Indian industry and his sad demise leaves a huge void in our business ecosystem and India has lost one of its tallest leaders in industry. His ideas and philosophies shaped the contours of Indian businesses especially for the past four decades," said CII President

T V Narendran

.

A

Padma Bhushan-awardee

Rahul Bajaj passed away at a hospital in Pune on Saturday. He was one of the longest-serving chairmen in corporate India.

He served as president of the Confederation of Indian Industry (CII) twice. Bajaj served as president of CII from 1979 to 1980 and again from 1999 to 2000.

"Always an indomitable leader, he remained a steadfast mentor for the industry through the time of profound changes in the global and Indian economy, speaking for the highest standards of corporate governance and corporate social responsibility. Under his stewardship, the first codification of corporate governance norms in the country happened way back in 1998, well before any regulation or law came into being in this important space," Narendran said in a statement.

Remembering the contribution of Rahul Bajaj, CII President said, "he spoke for globalisation and was a strong and influential proponent for connecting Indian businesses globally. The initiatives he took to take his company global were an inspiration for all entrepreneurs and he built the India brand in his own way."

"His demise is a deep loss to Indian industry as he was our mentor, guide and lodestone in doing business. I am sure that the ideas that he propounded for good corporate citizenship will stand as a role model and paradigm for the industry to continue to follow in his steps," Narendran said.

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