Mumbai The country’s business sector has suffered a huge loss. Essar Group co-founder Shashi Ruia has passed away. He was 81 years old. Shashi Ruia was ill for a long time. According to the information, he died in Mumbai at 11.55 pm on Monday night. He had recently returned to India after undergoing treatment in America. PM Narendra Modi and others have condoled the demise of Shashi Ruia. In his condolence message, Modi has described Shashi Ruia as a great person of the industry. Shashi Ruia is survived by his wife Manju and sons Prashant Ruia and Anshuman Ruia.
Shri Shashikant Ruia Ji was a colossal figure in the world of industry. His visionary leadership and unwavering commitment to excellence transformed the business landscape of India. He also set high benchmarks for innovation and growth. He was always full of ideas, always… pic.twitter.com/2Dwb2TdyG9
— Narendra Modi (@narendramodi) November 26, 2024
Essar Group is one of the oldest business houses of the country. Generally Indians know this company as a manufacturer of tractors, but Essar Group also does work like steel, electricity, construction, crude oil refining. Essar Group has also operated in India’s mobile phone sector. Essar Group was established in 1969. Shashi Ruia founded Essar Group along with his brother Ravikant Ruia. Shashi Ruia’s father NK Ruia had asked her to start a career in the business world. Ruia’s Essar Group was the first to build the breakwater at the port of Chennai (then Madras).
How much knowledge of business Shashi Ruia had is evident from the fact that despite having no family knowledge of it, he worked to take Essar Group forward. Shashi Ruia understood that something can be achieved in the business world only by keeping up with the trends. In such a situation, in the 1980s, he ensured the participation of Essar Group in the energy sector. At the same time, in the 1990s, he did not shy away from trying his hand in the steel industry and mobile services. Today Essar Group is a big name in India’s steel business.