Shashi Ruia, Essar Group Co-Founder Passes Away At 81

Shashi Ruia Passes Away: Shashi Ruia, the chairperson and co-founder of the Essar Group, passed away on 25 November at the age of 81. A visionary leader, Ruia, along with his brother Ravi Ruia, was instrumental in shaping the Essar Group into a global conglomerate.  

The company announced his demise on X.com, stating, “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.”  

Ruia’s mortal remains will be placed at Banganga, Walkeshwar, for prayers and respects.

Beginnings From Madras Port

Shashi Ruia and his brother Ravi founded the Essar Group in 1969, starting with a Rs 2.5 crore contract from the Madras Port Trust to build an outer breakwater.

Under his leadership, the group expanded across sectors, including energy, infrastructure, and telecommunications, becoming a key player in India’s corporate landscape.  

Ruia held prominent roles in several national and international organisations. He served on the managing committee of the Federation of Indian Chambers of Commerce and Industry (FICCI) and was the Chairman of the Indo-US Joint Business Council.

A former president of the Indian National Shipowners Association (INSA), he also contributed as a member of the Prime Minister’s Indo-US CEOs Forum and the India-Japan Business Council.