Shashi Ruia, the Indian billionaire and co-founder of Essar Group, passed away at the age of 81. Starting his entrepreneurial journey in 1969 alongside his brother Ravi, Shashi played a pivotal role in transforming Essar from a construction-focused company into a diversified conglomerate spanning sectors such as infrastructure, energy, steel, and telecommunications. Under their leadership, Essar expanded its footprint in the 1980s and 1990s, becoming a major player in both domestic and global markets. However, over the years, the company faced financial struggles, leading to the sale of some key assets like its refinery and telecom interests.

Ruia’s legacy goes beyond business, as he was deeply involved in philanthropy and national organizations. He was known for his humility and community-oriented leadership, which earned him recognition not only in India but also internationally. His contributions extended to various forums, including the Indo-US Joint Business Council and the Indian National Shipowners Association. As part of his global engagement, Ruia also supported The Elders, a group of prominent global figures working on international peace and development.

His passing has left a significant mark, with family members and industry leaders mourning his loss and reflecting on his enduring impact on business and society. Essar Group’s future will continue to be inspired by the values and aspirations he championed throughout his life.