MUMBAI — Veteran industrialist Rahul Bajaj, synonymous with Bajaj Auto, died Saturday in Pune. He was 83. A statement from the Bajaj Group said that the industrialist died in the "presence of his closest family members".

Bajaj, who had pneumonia and also a heart problem, was admitted to the Ruby Hall Clinic a month ago and breathed his last at 2.30 p.m. on Saturday.

“It is with deep sorrow that I inform you about the passing away of Rahul Bajaj, husband of the late Rupa Bajaj and father of Rajiv and Deepa, Sanjiv and Shefali and Sunaina and Manish. He passed away on the afternoon of Feb. 12, 2022 in the presence of his closest family members,” said a statement from Bajaj group.

The industry veteran was not keeping well for some time and died this afternoon, said an official. He will be accorded a state funeral tomorrow, said the Maharashtra government.

Rahul Bajaj had resigned as Bajaj Auto Chairman in April last year. However, he was appointed as firm's Chairman Emeritus for five years.

One of the most famous taglines in the Indian corporate ad industry has been "you just can't beat a Bajaj" and the "Hamara Bajaj" for the company's iconic two-wheeler.

He headed the Bajaj group of companies which have presence across segments such as automobiles, general and life insurance, investment and consumer finance, home appliances, electric lamps, wind energy, special alloy and stainless steel, material handling equipment and travel.

The company's Bajaj Chetak scooter became an aspirational symbol for the middle class Indian families, with the 'Hamara Bajaj' tune becoming synonymous with their hopes of a better future.

In November 2019, at an event organized by the Economic Times in Mumbai where Home Minister Amit Shah was present, the veteran industrialist spoke about the government's 'stifling of criticism', among other things.

"This environment of fear, it's definitely on our minds. "You (the government) are doing good work; and despite that, we don't have the confidence that you'll appreciate criticism," he had said.

In 2005, the industrialist had started passing the baton of the company to son Rajiv Bajaj, who became the managing director of Bajaj Auto.

Prime Minster Narendra Modi said the veteran industry leader was a "great conversationalist" and will be "remembered for his noteworthy contributions to the world of commerce and industry".

President Ram Nath Kovind also mourned the loss of the industry doyen. Former Congress president Rahul Gandhi called the industrialist's death a "big loss to India".

Civil Aviation Minister Jyotiraditya Scindia said he was "distressed" by the death "of the automobile doyen".

"My heartfelt tributes to Rahul Bajaj ji, a successful entrepreneur, philanthropist and former chairman of Bajaj. I had a personal relationship with Padma Bhushan awardee Rahul ji for many years.

“Rahul ji, who has led the Bajaj Group for the last five decades, has been instrumental in the industry. May God rest the departed soul and give strength to the family members. Om Shanti," tweeted Union Minister Nitin Gadkari.

Madhya Pradesh Chief Minister Shivraj Singh Chouhan also condoled the industrialist's death. "The demise of Rahul Bajaj the Chairman emeritus of the Bajaj Group is a loss to India's business community. My condolences to the bereaved family and the group," tweeted Chouhan.

Nationalist Congress Party (NCP) chief Sharad Pawar said he was "deeply shocked" and credited the industrialist for his affordable two-wheeler which a tool of "socio-economic change".

Former Union Minister Praful Patel said that Rahul Bajaj is credited with making the brand Bajaj a household name.

"Saddened by the passing away of renowned industrialist and one of the longest-serving chairman in corporate India, Padma Bhushan Rahul Bajaj ji. He is credited with making the brand Bajaj a household name. My heartfelt condolences to his family members," Patel tweeted.

Rahul Bajaj was honored with Padma Bhushan, India's third-highest civilian award, in 2001. He was the Chairman of the industry body Confederation of Indian Industry (CII) for two terms — 1979-80 and 1999-2000.

Born on June 10, 1938, Bajaj graduated from St Stephen’s College in Delhi University with an Honors Degree in Economics in 1958. Apart from this, Bajaj also has a degree in Law from Bombay University and an MBA from Harvard Business School.

As head of the Bajaj group of companies, he oversaw group activities, including manufacture and sale of motorized two, three, and four-wheeled vehicles, general and life insurance, investment and consumer finance, home appliances, electric lamps, wind energy, special alloy and stainless steel, material handling equipment and travel.

He was also the former chairman of Indian Airlines and of the board of governors of the Indian Institute of Technology, Bombay. He was also the former chairman of the International Business Council, World Economic Forum, a former member of the South Asia advisory board of Harvard Business School and a former member of the International Advisory Council of the Brookings Institution in Washington, DC.

Bajaj also spearheaded the CSR activities of the Bajaj group of companies and charitable trusts, including Jamnalal Bajaj Foundation. — Agencies