Rahul Bajaj is an Indian businessman, industrialist, politician, Forbes billionaire and a member of the Indian Parliament. Former Bajaj Chairman Rahul Bajaj passed away on 12 February 2022 in Pune. He was 83 years old. Bajaj was awarded the third-highest civilian award Padma Bhushan in 2001.
Rahul Bajaj Biography & Wiki
|Real Name/Full Name||Rahul Bajaj|
|Profession||Indian billionaire businessman|
|Famous For||Chairman Emeritus of Bajaj Group.|
|Political Party||Indian National Congress|
|Height||In Centimeter- 183 cm|
In Meter- 1.83
In Feet- 6’0’’
|Date Of Birth||10 June 1938|
|Rahul Bajaj Age (2022)||83 Years|
|Birthplace||Kolkata, Bengal Residency, British India.|
|Date Of Death||12 February 2022|
|Place Of Death||Pune, Maharashtra, India|
|Zodiac Sign/Sun Sign||Gemini|
|Home town||Mumbai, Maharashtra, India|
|School||Cathedral and John Connon School, Mumbai|
|College/University||St. Stephen’s College, Delhi (BA)|
Harshal Law College, Mumbai (LLB)
Harvard Business School (MBA)
|Rahul Bajaj Wife||Rupa Bajaj (Died- 2013)|
Marriage Year- 1961
|Children||Son- Rajeev Bajaj, Sanjeev Bajaj|
|Parents||Father– Kamalnayan Bajaj |
Mother– Savitri Bajaj
|Sibling||Brother– Shishir Bajaj|
Cousins– Shekhar Bajaj & Niraj Bajaj
|Rahul Bajaj Net Worth (2022)||9.2 Billion USD|
Family, Early Life and Education
Rahul Bajaj was born on 10 June 1938 in Bengal Residency, British India. Bajaj is the son of Rajasthani businessman Jamnalal Bajaj, who started Bajaj Auto in 1945.
He has a brother, Shishir Bajaj, with whom a business deal was recently struck to end the family dispute. He has 3 cousins, Shekhar, Madhur and Neeraj, with whom he controls the Bajaj Group of companies.
He is married to Rup Bajaj and has two sons Rajiv and Sanjeev who are involved in the management of their companies and a daughter Sunaina Kejriwal, who is married to Manish Kejriwal, who heads Temasek India.
Rahul went to Bajaj Cathedral and John Connon School. He graduated from St. Stephen’s College, Delhi in 1958 with an Honors degree in Economics. He underwent job training for 4 years in two group companies. During that time he also obtained a law degree in Bombay. He is also an alumnus of the prestigious Harvard Business School, USA.
Looking at his family background, he started dreaming of becoming a businessman at the young age of 12. His grandfather had bought a steel mill and a sugar mill, and in 1945 his father founded Bajaj Auto, which is now the crown jewel in the Bajaj Group.
In the 1970s, there was no entrepreneurship even in India and nothing could be done without the approval of the government. In this difficult time, Bajaj became the CEO of Bajaj Auto Limited (BAL) in 1968 at the age of 30, making him the youngest CEO at that time.
Rahul Bajaj Career
In the environment when Rahul became the CEO of the company, the company was limited to producing only 20,000 units per year. Supply and demand did not match. So, after placing their order, customers had to wait for almost ten years to receive it.
To reduce costs while improving the price and quality of products, he increased production to take advantage of the “economy of scale”. They ignored a government regulation and increased the amount to more than 25 percent of their license capacity.
In 2005, Rahul Bajaj resigned from his role and his son Rajiv became the group’s managing director. Bajaj was elected to the Rajya Sabha, the upper house of the Parliament of India, in the period 2006–2010.
Rahul Bajaj was elected as the President of the Confederation of Indian Industry (CII) twice in 1979-80 and 1999-2000. He also received the Padma Bhushan award in 2001.
His grandfather was known as the “fifth son” of Mahatma Gandhi and his parents and grandparents spent time in British prisons leading up to Indian independence. So, he didn’t have the fear of going to jail for (illegal) excess production.
Rahul Bajaj Achivements
Ever since Rahul Bajaj took over the Bajaj Group in 1965, Bajaj Auto has grown year after year to new heights under his leadership. The business of Bajaj Auto has grown from just Rs 7.2 crore to Rs 46.16 billion. He built one of the best companies in India during the tough days of the license-permit raj.
Apart from his achievements as CEO of BAL, his personal achievements are:
- He is the only top executive to serve two terms as the President of the Confederation of Indian Industry (CII), which represents over 5,000 companies from India’s private and public sectors.
- He is a member of the International Advisory Committee and his expertise in these matters is exercised by the New York Stock Exchange.
- For his contribution to Indian industry, he was awarded the country’s third highest civilian honour, the Padma Bhushan, in 2002.
- In June 2006 he was nominated to the Rajya Sabha from Maharashtra with the cross party support of NCP, BJP and Shiv Sena.
- He was named as the 20th richest person in India among the top 40 richest people in India according to a Forbes India survey.
- The Government of India appointed Mr. Bajaj as Chairman of the Automobile and Allied Industries Development Council, 1975-77.
- In 1975, Mr. Bajaj received the “Man of the Year” award from the National Institution of Quality Assurance.
- Mr Bajaj was chosen as Business India’s Businessman of the Year 1985.
- In 1988, Mr. Bajaj was honored for his achievements by the Pune Municipal Corporation at a public function.
- Mr. Bajaj was the chairman of Indian Airlines between 1986-89.
- Mr. Bajaj received Bombay Management Association Award – 1990 for most distinguished services in the field of Management.
- Mr Bajaj was appointed as a member of the Prince of Wales International Business Leaders Forum in February 1992 by His Royal Highness, The Prince of Wales.
- The FIE Foundation honored Mr. Bajaj with the Rashtra Bhushan Award in 1996. The Lokmanya Tilak Memorial Trust honored Mr. Bajaj with the Tilak Award in 2000.
- He was also awarded the Alumni Achievement Award by Harvard Business School in September 2005.
- He was the recipient of many more national and international honours.
Who was Rahul Bajaj?
Rahul Bajaj is an Indian businessman, industrialist, politician, Forbes billionaire and a member of the Indian Parliament.
Who is the owner of Bajaj Company