Shashikant Ruia, co-founder of Essar Group, passes away at 80

Shashikant Ruia, the co-founder and chairperson of conglomerate Essar Group, passed away on Monday, November 25. He was 80 years old.

His mortal remains will be at Ruia House for prayers from 1 PM to 3 PM on Tuesday, November 26.

In a statement, Essar Group said, "It is with profound grief that we inform of the passing of Shri Shashikant Ruia, Patriarch of the Ruia and Essar Family."

"With an unwavering commitment to community upliftment and philanthropy, he touched millions of lives leaving an enduring impact. His humility, warmth, and ability to connect with everyone he met, made him a truly exceptional leader," the company said.

It said that Shashikant Ruia, an iconic industrialist, played a key role in defining India's corporate landscape.

"Shri. Shashikant Ruia's extraordinary legacy will remain a guiding light for all of us, as we honour his vision and continue to uphold the values, he cherished and championed," it added.

PM Modi condoles demise of Shashi Ruia

Prime Minister Narendra Modi condoled the demise of Shashikant Ruia. Taking to X (formerly Twitter), PM Modi hailed Ruia's visionary leadership and his unwavering commitment to transforming India's business landscape.

Shashikant started his career in 1965 under his father, Nand Kishore Ruia's guidance.

He, along with his brother Ravi Ruia, laid the foundation of Essar in 1969 by building an outer breakwater at Chennai Port. The group expanded into several sectors, including oil refining, steel, exploration and production, power, telecom and construction.