Shashikant Ruia, Essar Group Co-Founder, Passed Away at 81: A Legacy of Leadership and Innovation - Read Now 

Shashikant Ruia, the co-founder of the Essar Group, passed away on November 25, 2024, in Mumbai at the age of 81 after a prolonged illness. The industrialist and philanthropist was a towering figure in India's business landscape, having co-founded Essar Group with his brother Ravi in 1969. His passing marks the end of an era for the Essar family and the Indian business community.

Shashikant Ruia's death has left a deep void, and tributes have poured in from all corners of the country. Prime Minister Narendra Modi expressed his condolences, remembering Ruia as a "colossal figure" in the industrial world who transformed India’s business sector with his visionary leadership.

Essar Group's Co-Founder: Shashikant Ruia’s Journey and Legacy

Shashikant Ruia’s entrepreneurial journey began in 1965 when he entered the business world under the guidance of his father, Nand Kishore Ruia. Together with his brother Ravi, Shashikant laid the foundation of the Essar Group, one of India’s most diversified conglomerates, in 1969. Essar’s first major project was the construction of an outer breakwater at Chennai Port, which marked the beginning of their industrial empire.

Essar Group quickly expanded into various sectors including steel, oil refining, telecommunications, power, construction, and more. The company became synonymous with growth, innovation, and a commitment to excellence. Under Shashikant’s leadership, Essar transformed from a modest industrial enterprise into a global powerhouse with a presence across several continents.

Shashikant Ruia was not just an industrialist, but also a philanthropist with a deep commitment to community upliftment. His belief in making a difference in the lives of others was central to his values. His humility and personal warmth endeared him to those who worked with him, making him a respected leader in the business world.

Shashikant Ruia’s Leadership: Visionary and Humble

Shashikant Ruia's leadership was marked by his ability to innovate and think beyond conventional business models. He was known for his sharp business acumen, dedication, and vision for growth. His leadership style was deeply rooted in values of integrity, responsibility, and social impact, which helped Essar Group expand its reach while contributing to the development of various sectors in India.

His family issued a heartfelt statement upon his passing, expressing deep grief and remembering his extraordinary legacy. “It is with profound grief that we inform of the passing of Shri Shashikant Ruia, Patriarch of the Ruia and Essar Family. His unwavering commitment to community upliftment and philanthropy touched millions of lives, leaving an enduring impact,” the statement read.

The Essar family went on to highlight how Shashikant’s humility and ability to connect with people made him an exceptional leader. His legacy, the family said, would continue to guide the future generations of the family and the Essar Group, with a strong commitment to upholding the values he cherished.

PM Modi Condoles Shashikant Ruia’s Death

Prime Minister Narendra Modi expressed his sorrow over the loss of Shashikant Ruia, acknowledging his immense contributions to India’s industrial sector. In his tribute, Modi described Shashikant as a visionary leader who set high standards for innovation and excellence in business. The Prime Minister praised his ability to think ahead and create lasting impact in sectors critical to India's development.

In a post on social media platform X (formerly Twitter), Modi said, “Shashikant Ruia was a colossal figure in the world of industry. His visionary leadership transformed the business landscape of India. He set high benchmarks for innovation and growth and was always full of ideas on how to make our country better. His demise is deeply saddening.”

Shashikant Ruia’s Family: Survived by Wife and Sons

Shashikant Ruia is survived by his wife Manju, and their two sons, Prashant and Anshuman. His family, including his sons, have played significant roles in the continued growth of the Essar Group. The group, which started with the vision of Shashikant and Ravi Ruia, has grown into one of the most influential industrial conglomerates in India.

The Ruia family has always emphasized the importance of values such as integrity, community welfare, and family unity, which were central to Shashikant’s leadership philosophy.

The Funeral and Final Farewell

Shashikant Ruia’s mortal remains will be kept at Ruia House in Mumbai on Tuesday, November 26, for public viewing from 1 PM to 3 PM. The funeral procession will leave for the Hindu Worli Crematorium at 4 PM, where he will be cremated in the presence of his family, close friends, and business associates.

The entire business and industrial community will undoubtedly feel the absence of Shashikant Ruia, who was not just an astute businessman but also a guiding light for many. His philanthropic contributions and leadership in community development will be remembered for years to come.

The Essar Group Legacy: Shashikant’s Vision Continues

Shashikant Ruia’s vision of creating a diversified industrial empire continues to inspire the Essar Group, which remains a key player in India’s economy. The company’s reach spans across industries like steel, energy, oil, and telecommunications, and its success story is closely linked to the leadership of Shashikant and his brother Ravi.

While Essar continues to grow and evolve, the loss of Shashikant Ruia will leave an indelible mark on the company's culture and its future direction. His legacy of visionary leadership, combined with his dedication to philanthropy, will continue to be a guiding force for his family and the broader Essar Group.

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