Rahul Bajaj (June 10, 1938 – February 12, 2022) was a luminant being who made ‘Bajaj Chetak’ the symbol of hope for the middle class. India’s most prominent conglomerate ‘The Bajaj Group’s chairman emeritus, was awarded the Padma Bhushan, the third highest Indian civilian honour, in 2001 for his contribution to Indian industry. He also served in Parliament’s Upper House from 2006 to 2010.
Background
The Indian billionaire was born to Kamalnayan and Savitri Bajaj in Kolkata. When he was 12, he started dreaming of being a businessman. After completing his education, Rahul Bajaj joined the Bajaj Group in 1965 and was appointed the managing director in 1968.
Bajaj Auto, the world’s fourth-largest two-wheeler manufacturer
Under his leadership, Bajaj Auto became the world’s fourth-largest two-wheeler manufacturer, and the company witnessed tremendous growth in various sectors, such as automobiles, finance, insurance, and electrical appliances. Through his initiative, Chetak and Bajaj Super models rose to prominence in the Indian market. Originally based on the Italian Vespa Sprint, Chetak was an affordable means of transportation for millions of Indians for decades and is remembered as ‘Hamara Bajaj’.
In the early 1970s, he introduced the concept of outsourcing to India, which became a game-changer for the Indian IT industry.
In 2001 Mr Bajaj was honoured with Padma Bhushan. In the same year, Bajaj sales hit a low point after market liberalisation saw Japanese competitors like Honda, Yamaha, and Suzuki introduce new motorcycles and change the dynamics of India’s market. But Bajaj didn’t take long to make a comeback; it soon recovered from the loss with effective marketing and promotion, reinvented itself, and came up with Bajaj Pulsar Motorcycle.
Some unknown facts about Rahul Bajaj
– Honoured with ‘Knight of the Legion of Honour’, France’s highest civilian award.
– Only top executive who served two terms as president of the Confederation of Indian Industry (CII).
– Mr Bajaj was a member of the International Advisory Committee.
– According to the Forbes India poll on the top 40 richest persons in India, he was the 20th richest man in India.
– The Government of India appointed him as the Development Council for Automobiles and Allied Industries Chairman.
– Mr Bajaj was also the Chairman of Indian Airlines between 1986-89
– He was ranked No. 722 on the Forbes 2016 list of the world’s billionaires
Besides his business ventures, Rahul Bajaj is also known for his contributions to society. He has been actively involved in various philanthropic activities and is the Chairman of the Bajaj Foundation, which works towards rural development, healthcare, and education.
