Shashi Ruia, the esteemed co-founder of the Essar Group and a notable figure in the industrial sector, has passed away at the age of 80. Since founding Essar in 1969 alongside his brother, Ruia played a pivotal role in guiding the company’s evolution from a construction firm into a powerhouse with interests across energy, steel, and telecommunications sectors.

Under his leadership, Essar expanded its footprint, establishing operations in more than 35 countries. Despite facing various challenges, including significant divestments, Ruia’s strategic vision ensured that Essar not only survived but thrived, diversifying into numerous industries and becoming a conglomerate with a global reach.

Unlike some other family-run businesses that might struggle with succession and modernization, Ruia’s foresight in governance and expansion has positioned Essar as a dynamic participant in the global market, ensuring its resilience and continued growth. His legacy is marked by his remarkable ability to foresee market trends and steer his company through complex landscapes, securing its place on the global stage.