Rahul Bajaj, the Chairman of Bajaj Auto, passed away today, at the age of 83. The businessman was admitted to the hospital, and had pneumonia, while he also had a heart problem. He took his last breath today (Saturday, February 12). Rahul Bajaj acted as the Chairman of the Bajaj Group for over 40 years.
An official statement from the Bajaj Group read, “It is with deep sorrow that I inform you about the passing away of Shri Rahul Bajaj, husband of the late Rupa Bajaj and father of Rajiv/Deepa, Sanjiv/Shefali and Sunaina/Manish. He passed away on the afternoon of 12 February 2022 in the presence of his closest family members.”
Born on 10 June 1938, Rahul Bajaj was the grandson of Indian independence fighter Jamnalal Bajaj. Rahul Bajaj’s grandfather founded the Bajaj Group in 1926 and was succeeded by Kamalnayan Bajaj, Rahul’s father in 1942. In a short time, he expanded Bajaj’s business into more verticals, including cement, electrical appliances, and scooters.
Rahul Bajaj began his journey with the Bajaj Group as the Deputy General Manager, after finishing his MBA from Harvard Business School in the US. Under Naval K Firodia – the CEO of Bajaj Auto at the time – Rahul Bajaj looked after marketing, accounts, purchase, and audit, while also picking up business ideologies. After Kamalnayan Bajaj passed away in 1972, Rahul took over as the Managing Director of Bajaj Auto.
Under his leadership, the Bajaj Group grew numerous folds, joining the Billion-dollar club. The Bajaj Chetak and the Super were his initiatives, which saw tremendous success in India. The Bajaj Chetak, based on the Vespa Sprint, became a household name for millions in the country, owing to its affordability.
The Bajaj Group did see a slump towards the 2000s when the Japanese two-wheeler manufacturers such as Yamaha, Suzuki, and Honda started introducing products in India after the market liberalisation, however, with the launch of the Pulsar, Bajaj quickly regained lost grounds. The Bajaj Pulsar is a popular brand to this day.
In his professional life, Rahul Bajaj is known to be ‘plain-spoken’ and his friends call him ‘fearless’. A good example to highlight his traits is when the Italian two-wheeler manufacturer, Piaggio, did not renew Bajaj’s license. Rahul Bajaj started making his own scooters in India — the Chetak and the Super.
During his lifetime, Rahul Bajaj received numerous awards and recognitions and was awarded the third-highest civilian award, the Padma Bhushan in 2001. Some notable awards and recognitions include:
- Appointed as the Chairman of Indian Airlines in 1986
- Elected to Rajya Sabha from Maharashtra in 2006
- The family won the ‘Distinguished Family of the Year’ in 2013
- CII President’s Award for Lifetime Achievement in 2017
Back in 2008, Rahul Bajaj split Bajaj into three separate verticals — Bajaj Auto, Bajaj Finserv, and a holding company. His sons Rajiv Bajaj and Sanjiv Bajaj manage the company’s functioning.
