Introduction:
On November 25, 2024, Indian tycoon Shashi Ruia, a fellow Essar Gathering benefactor, died at the age of 80. He began his career in 1965, helping to build an exterior sea wall at Chennai Port under the supervision of his father, Nand Kishore Ruia.
| Detail | Information |
| Full Name | Shashi Ruia |
| Date of Birth | 1943 |
| Date of Death | November 25, 2024 |
| Age at Death | 80 years |
| Place of Birth | India |
| Education | No formal studies abroad; joined family business at a young age |
| Family Business | Guided by father Nand Kishore Ruia |
| Siblings | Brother Ravi Ruia |
| Marital Status | Married to Madhu Ruia |
| Children | Two |
| Residence | Mumbai, India |
| Profession | Entrepreneur, Industrialist |
| Major Contributions | Co-founder of Essar Group (1969) |
| First Major Project | ₹2.5 crore contract to construct an outer breakwater at Madras Port |
| Company Focus | Initially construction and engineering; later diversified into steel, energy, telecom, shipping, etc. |
Shashi Ruia Biography
Shashi Ruia (1943-2024) was a unique business visionary and industrialist who, close by his kin Ravi Ruia, assisted with laying out the Essar Social event in 1969. The organization, settled in Mumbai, works in different businesses like steel, energy, power, correspondences, delivery, ports, and planned operations.
Shashi started his vocation in 1965, directed by his dad, Nand Kishore Ruia. He was hitched to Madhu, had two kids, and lived in Mumbai.
In 2012, Forbes named the Ruia siblings the world’s most extravagant Indians, with a total assets of $7 billion.
Shashi held critical jobs in a few industries and public associations:
He was an individual from the overseeing council of the Organization of Indian Offices of Business and Industry (FICCI).
Filled in as Administrator of the Indo-US Joint Business Gathering.
Was a previous leader of the Public Shipowners Relationship of India.
Added to the state leader’s Indo-US Profession Gathering and the India-Japan Business Board.
The Ruia siblings, frequently alluded to by and large, assumed a critical part in forming India’s modern development through their initiative of the Essar Gathering.
Net Worth:
By 2021, Shashi and Ravi Ruia had an expected total assets of $2.2 billion, as per Forbes. In 2012, they were perceived as the world’s most extravagant Indians. Among their remarkable accomplishments was the $13 billion offer of Essar Oil to Russian oilmaker Rosneft in 2017—an unprecedented exchange for both Russian unfamiliar speculation and Indian unfamiliar direct venture. Shashi Ruia led Essar’s globalization endeavors, laying out adventures in Southeast Asia, Africa, and the Center East. His commitments procured him a few honors, including Business India’s Finance Manager of the Year in 2010 and the Extraordinary Commitment to Maintainability grant at The Asian Honors in 2013.
In 2021, Ravi Ruia was in the information for getting the sumptuous ‘Hanover Hotel’ house in London for $145 million, further featuring the family’s worldwide impression. A defender of family solidarity, Ruias maintained solid familial qualities inside the family. Not at all like numerous Indian business families that confronted public debates, the Ruias remained firmly reinforced, with three ages working and living respectively across Mumbai, Delhi, and London. In the interim, state leader Narendra Modi has communicated his sympathy over Shashikant Ruia’s end.
In a post on X, he said, “Shri Shashikant Ruia Ji was a great figure in the realm of industry. His visionary authority and faithful obligation to greatness changed the business scene of India. He additionally set high benchmarks for advancement and development. He was in every case loaded with thoughts, continuously talking about how we can improve our country. Shashi Ji’s end is profoundly disheartening. My most profound sympathies to his family and friends and family in this hour of anguish. Om Shanti.”
Professional journey of Shashi Ruia
Shashi Ruia helped to establish the Essar Gathering in 1969 with his sibling Ravi Ruia. Their most memorable huge venture was a ₹2.5 crore contract from Madras Port Trust to fabricate an external sea wall at the port. This was the beginning of Essar’s excursion to turning into a worldwide organization.
Key Milestones:
- Early Days: Essar started with development and designing undertakings like scaffolds, dams, and power plants.
- Extension during the 1980s: The gathering broadened into the energy area, procuring oil and gas resources.
- Development during the 1990s: Essar ventured into steel and media communications, building steel plants, a petroleum treatment facility, and turning into a significant telecom player through an organization with Hutchison, which made India’s second-biggest telecom administrator.
- Later Changes: Essar offered its telecom business and petroleum treatment facility to Rosneft and accomplices. It additionally gave over its steel plants to ArcelorMittal after bankruptcy procedures.
Global Contributions:
In 2007, he joined The Seniors, a gathering of world pioneers like Desmond Tutu, Kofi Annan, and Jimmy Carter, dealing with worldwide difficulties.
His emphasis on worldwide organizations and development situated Essar as a central participant in both Indian and worldwide business sectors.
Legacy:
Shashi Ruia’s vision and administration assumed a huge part in India’s modern development. His endeavors in encouraging worldwide business joint efforts and incorporating Essar into a global organization lastingly affect Indian industry.
