Thread by @stockifi_Invest

Mega-Thread on Indian Billionaire Veteran Industrialist and Chairman emeritus of the Bajaj Group: Late Rahul Bajaj

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1) Rahul Bajaj was born on 10th June 1938 in Kolkata.

2) He belonged to an Agrawal family and was the grandson of the Indian Independence Fighter, Jamnalal Bajaj.

3) Rahul's grandfather Jamnalal Bajaj founded the Bajaj Group in 1926 and his father Kamalnayan Bajaj succeeded him in 1942.

4) Kamalnayan started the precursor to Bajaj Auto. Within three years he expanded into new businesses, including cement, electrical appliances, scooters.

5) Rahul was an Alumnus of Harvard Business School in the US, St. Stephen’s College in Delhi, Government Law College in Mumbai and Cathedral and John Connon School.

6) After graduating from Harvard Business School in 1964, he joined Bajaj Auto in 1965.

7) He served as the chairman emeritus of the Indian conglomerate Bajaj Group and a member of parliament.

8) Rahul Bajaj became a part of his father's group as Deputy General Manager and oversaw key departments in the company like marketing, accounts, purchase, and audit.

9) Under the guidance of Naval K Firodia, CEO of Bajaj Auto, Rahul learned the nuances of the business.

10) After his father passed away in 1972, Rahul was appointed the Managing Director of Bajaj Auto.

11) Rahul Bajaj built the firm in the 1970s and '80s and under his leadership, the company witnessed tremendous growth.

12) When Bajaj Auto first received their license, they were only authorized to make 6,000 scooters per year, which consequently, created a ten-year delivery period and resulted in the Bajaj scooter becoming a prized commodity within India.

13) Bajaj Auto originally partnered with Vespa, an Italian luxury scooter brand manufactured by Piaggio.

14) They were forced to end this collaboration in 1971 due to Prime Minister Indira Gandhi’s privatization programs and ban on foreign collaborations within the auto industry

15) He described the decade of the 1970s as the worst in the history of independent India for industry and stated that things only started improving in the 1980s when Rajiv Gandhi became Prime Minister.

16) In an interview, Rahul said that if he had to go to jail for the production of a commodity that most Indians needed, he didn't mind.

17) In the 1970s, when Italy's Piaggio didn’t renew Bajaj's license, he began manufacturing his own brand of scooters like Chetak and Super.

18) With the liberalization of India’s economy beginning in 1991, Bajaj reported that they were making between 70,000-80,000 scooters per month by the end of the decade.

19) He grew the company’s revenues to join the Billion-dollar club.

20) It was through his initiative that Chetak and Bajaj Supermodels rose to prominence in the Indian market.

21) Originally based on Italian Vespa Sprint, Chetak was an affordable means of transportation for millions of Indians for decades and is remembered as 'Hamara Bajaj'.

22) Bajaj sales hit a low point around 2001 aftermarket liberalization saw Japanese competitors like Honda, Yamaha, and Suzuki introduce new motorcycles and change the dynamics of India's market.

23)But it soon recovered from the loss with effective marketing and promotion.

24) Bajaj Auto reinvented itself and came up with Bajaj Pulsar Motorcycle.

25) In 2008, he split Bajaj Auto into three units - Bajaj Auto, finance company Bajaj Finserv and a holding company.

26) His sons Rajiv Bajaj and Sanjiv Bajaj are involved in the management of his companies.

27) His daughter Sunaina is married to Manish Kejriwal, the former head of Temasek India.

28) Rahul Bajaj has also been the president of the Confederation of Indian Industry (CII) and the Society of Indian Automobile Manufacturers (SIAM).

29)He was appointed the chairman of Indian Airlines in 1986.

30)In June 2006, Rahul Bajaj was elected to Rajya Sabha from Maharashtra.

31) In 2005, he resigned as chairman, his son Rajiv became the Group's managing director.

32) In 2013, the Bajaj family won the 'Distinguished Family of the Year award. They won the award for dedicating their wealth and time for the public good.

33) The family runs schools, vocational and technical training institutes, which includes adopting ITIs. They train rural women in tailoring and embroidery.

34)They have set up hospitals and rural development programs under the umbrella of Jankidevi Bajaj Gram Vikas Sanstha.

35) He is known in corporate circles as the man who does not mince words when it comes to any matter of national interest or echoing corporate India's woes.

36)Rahul Bajaj has always been regarded as plain-spoken and his friends call him 'fearless'.

37) Rahul Bajaj owned 10% stake in Bajaj Auto, 10% in Bajaj Finserv and 24% of Bajaj Holdings & Investment until his demise on 12th February,2022.

38) According to Forbes, the Bajaj family's net worth stands at $9.2 billion and it is the 11th richest family in India.

39)In April 2021, Bajaj stepped down as non-executive chairman of Bajaj Auto, ceding the position to his cousin, Niraj Bajaj.

40)He was awarded the third-highest civilian award Padma Bhushan in 2001.

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