THE JHARKHAND STORY DESK
New Delhi, Nov 26: Essar Group co-founder Shashikant Ruia has passed away at the age of 81. He breathed his last in Mumbai after a prolonged illness. Ruia had been undergoing treatment in the United States and returned to India about a month ago.
His mortal remains will be kept at Ruia House on Tuesday from 1 PM to 3 PM, after which a funeral procession will proceed from Ruia House to the Hindu Worli Crematorium in Mumbai at 4 PM. The news of his demise was shared by his brother, Ravi Ruia.
Prime Minister Modi has expressed grief over the passing of Shashikant 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 discussing how we can make our country better,” PM Modi posted on X.
“Shashi Ji’s demise is deeply saddening. My deepest condolences to his family and loved ones in this hour of grief. Om Shanti,” the PM added in his post.
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
Entrepreneur and industrialist Shashikant Ruia began his career in 1965 under the guidance of his father, Nand Kishore Ruia. In 1969, he co-founded Essar along with his brother Ravi Ruia. Their first order, worth ₹2.5 crore, came from the Madras Port Trust.
Initially, Essar Group focused on the construction and engineering sectors, undertaking projects like bridges and power plants. In 1980, the group ventured into the energy sector, and during the 1990s, it began expanding its business further, entering the steel and telecommunications sectors.