Essar Group Co-Founder Shashikant Ruia Dies at 80

The visionary industrialist and philanthropist played a key role in transforming India's corporate landscape and building a global conglomerate.

Shashikant Ruia, co-founder and chairman of Essar Group, passed away on Monday night in Mumbai at the age of 80 after a prolonged illness.
Ruia, along with his brother Ravi, founded Essar Group in 1969, which grew into a multinational conglomerate spanning energy, steel, ports, telecommunications, and infrastructure.
Prime Minister Narendra Modi paid tribute to Ruia, describing him as a 'colossal figure' in Indian industry and praising his visionary leadership and commitment to innovation.
Under Ruia's leadership, Essar Group became a pioneer in several sectors, including establishing India's first Independent Power Producer and developing integrated steel and refining complexes.
In recent years, Ruia focused on transitioning Essar's portfolio toward clean energy solutions, investing in green technologies such as hydrogen and renewable energy.