MUMBAI: India’s leading industrialists and chairman emeritus of the Indian diversified conglomerate Bajaj Group, Rahul Bajaj passed away in Pune today. He was 83.

The Bajaj Group said in a statement, "It is with deep sorrow that I inform you about the passing away of Rahul Bajaj, husband of the late Rupa Bajaj and father of Rajiv and Deepa, Sanjiv and Shefali and Sunaina and Manish. He passed away on the afternoon of February 12, 2022, in the presence of his closest family members."

The veteran industrialist was reportedly suffering from several health issues, namely pneumonia and heart ailments and had been admitted to the Ruby Hall Clinic Ruby a prominent hospital in Pune where he was being treated. 

Bajal who was also a former member of the Rajya Sabha came from the family of freedom fighter and group founder Jamnalal Bajaj, after assuming a leadership role in 1965 he led the group's flagship two-wheeler company Bajaj Auto to expand its product portfolio and at one time it represented the aspirational value of the Indian middle class. 

The group under the leadership of Bajaj is today the world's fourth-largest two and three-wheeler manufacturer and has over the years expanded its businesses from automobiles to home appliances, lighting, iron and steel, general and life insurance, and consumer finance.

During his tenure during the '80s and 90's the group coined one of the most famous taglines in the Indian corporate with its advertising campaign, "Hamara Bajaj" for the company's iconic two-wheeler. The flagship model, the Bajaj Chetak scooter was one of the most sought after two-wheelers from the house of Bajaj and there was a time when with months of waiting period its booking letters were also sold in black. 

For several years Rahul Bajaj represented the voice of Indian industry both domestically as well as in the international market. He was elected as the president of the Confederation of Indian Industry (CII) twice, in 1979–1980 and 1999–2000. and also held the position of chairman of the International Business Council at the World Economic Forum, chairman of the board at Indian Institute of Technology Bombay, member of the International Advisory Council at the Brookings Institution, and a member of the South Asia advisory board at Harvard Business School.

Rahul Bajaj was known to be one of the most outspoken people especially when it came to issues of industry and governance. In November 2019, at an event organised by the Economic Times in Mumbai where Home Minister Amit Shah, Finance Minister Nirmala Sitharaman, and Commerce Minister Piyush Goyal were present, he openly spoke among other things about what he contended was the government’s ‘stifling of criticism’ and said, "This environment of fear, it's definitely on our minds. You (the government) are doing good work but despite that, we don't have the confidence that you'll appreciate criticism," he had said.

In 2005, Rahul Bajaj had begun passing the leadership of the company to his son Rajiv Bajaj, making him the managing director of Bajaj Auto and in April last year, he resigned as the company's chairman due to age and health-related issues. Post which he was appointed as the firm's Chairman Emeritus for five years.