Shashi Ruia

Born: 23 December 1943
Died: 25 November 2024, Mumbai
Known for: Founder and Chairman of the Essar Group

Starting out

Shashi Ruia began his career in the family business in 1965 under the guidance of his father, Nand Kishore Ruia. In 1969, together with his brother Ravi Ruia, he laid the foundation of the Essar Group, starting with construction work at the port of Madras.

Building Essar

Over the following decades Essar grew into a large group working in steel, oil and gas, power, shipping, ports, construction and telecom, with operations in many countries. When mobile telephony was opened to private companies, Essar was among the first to offer the service, and it later became a partner of Vodafone in India.

Later years

The group sold its share in the telecom business to Vodafone in 2011. In 2017 Essar Oil, with its refinery at Vadinar, was sold in one of the largest foreign investments made in India, and now runs as Nayara Energy. Essar Steel was taken over in 2019 by ArcelorMittal and Nippon Steel.

Public roles

Shashi Ruia served on the managing committee of FICCI, chaired the Indo-US Joint Business Council and was president of the Indian National Shipowners' Association. In 2007 he was among the founding supporters of The Elders, the group of world leaders brought together by Nelson Mandela.

He died in Mumbai on 25 November 2024 at the age of 80.