Rahul Bajaj

Rahul Bajaj, who was chairman of the 96-year-old Bajaj Group and the oldest member of the storied Bajaj clan, died Saturday afternoon February 12 2022 at the age of 83, in Pune city. The widely respected industrialist is believed to have been ailing for some time. Bajaj was the grandson of the Bajaj group’s founder, Jamnalal Bajaj, who set up the group in 1926. Jamnalal found a mentor in Mahatma Gandhi, joined the freedom movement and ran his business on Gandhian values. Jamnalal's eldest son, Kamalnayan, took over in 1942 and expanded into manufacturing, notably scooters. Kamalnayan’s younger sibling Ramkrishna took charge in 1972 until his death in 1994, when the baton passed on to Rahul. Outspoken chairman of 85-year-old Bajaj Group. Flagship Bajaj Auto, run by son Rajiv, stopped producing its iconic scooter, once much coveted by middle-class Indians. Group has retained marketing guru Jack Trout to advise on branding strategy. Joint venture with Renault-Nissan is developing a low-cost car, likely competitor to Tata's Nano. Insurance firm Bajaj Allianz, which younger son Sanjiv oversees, recently forged distribution tieup with Warren Buffet's Berkshire Hathaway. Has attended the World Economic Forum's Davos conference for past 33 years. Rahul Bajaj studied economics and law before going to Harvard University for M.B.A. studies. He joined the family business on his return and took charge of Bajaj Auto in 1970. Bajaj had long handed over operations to his two sons—Rajiv, who runs Bajaj Auto, and the younger Sanjiv, who is in charge of the financial services arm. The latter includes a long-standing partnership with German insurance giant Allianz Group. His cousins Niraj, Shekhar and Madhur, who were close to him, head various group companies. Rahul's younger brother, Shishir, has his separate consumer goods empire.