Shashi Ruia Passes Away: Essar Group Co-Founder Dies at 80

Shashi Ruia, co-founder of Essar Group, passed away on November 25, 2024, at the age of 80. His mortal remains will be available for prayers at Ruia House on Tuesday, November 26, from 1 pm to 3 pm. The funeral procession will depart from Ruia House at 4 pm, heading towards the Hindu Worli Crematorium.

Shashi Ruia, a first-generation industrialist and entrepreneur, began his career in 1965 under the guidance of his father, Nand Kishore Ruia. Together with his brother Ravi, he co-founded Essar and played a pivotal role in shaping its business strategy, growth, and diversification.

Shashi Ruia was actively involved in several national bodies and industry associations, serving on the managing committee of FICCI, as chairman of the Indo-US Joint Business Council, and as former president of the Indian National Shipowners Association. He was also a member of the Prime Minister's Indo-US CEO's Forum and the India-Japan Business Council.

Essar Global Fund Ltd, which owns the businesses co-founded by the Ruia brothers, has a diversified portfolio across infrastructure, energy, metals and mining, technology, and services, generating annual revenues of $14 billion, according to the Essar Group website.