AN EXTRAORDINARY LIFE

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RAHUL BAJAJ

Powerhouse. Visionary. Inspiration.

#BEBOLD

1938 - 2022

An Extraordinary Life

Biography of the Chairman Emeritus of Bajaj Group

By Dr. Gita Piramal

INTEGRITY. CHARACTER. COURAGE.

Rahul Bajaj exemplified true leadership – taught in business schools across the world and yet, rare in practice. His story encompasses the intricate relationship between business, government, and society – the tale of how one man, through hard work and the conviction of his ethos, transformed a nation.

Welcome to a life well-lived

With his parents, Savitri and Kamalnayan

From infancy, Rahul Bajaj was raised to believe in commitment to one's convictions and duty to one's country. His mother was a freedom fighter who spent 2 years of his early life in prison for fighting against imperialism.

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Graduating from St. Stephen's College

Rahul Bajaj earned degrees in economics and law from premier institutions in India, before earning a degree in business from Harvard. An irrepressible leader even in his school days, the foundations for his future success were laid here.

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His father and uncle with Jawaharlal Nehru in Wardha

India's first election was also his initiation to politics. The elections of '57 and '62 left their mark. In 2006, he followed in his father's steps as a member of Parliament.

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Bhoomi pujan at the Bajaj Auto plant in Akurdi, 1961

1959 to 1962 was an exciting time. Just 22 years old, Rahul Bajaj was promoted to the board of directors of Bacchraj Trading, soon to go public on the BSE as Bajaj Auto. On 9th March, 1962, he saw the first scooter roll off the plant in Akurdi.

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Rahul, Rupa, Rajiv, Sanjiv, and Sunaina

Rahul Bajaj and his family moved to Akurdi in 1964, in order to be near the factory and its workers. Here, they lived close to their employees, and raised their children with Gandhian values. Rupa made their bungalow a beloved home for the family, and a pillar of strength for the community.

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With his father

In April 1968, a 33-year-old Rahul Bajaj was voted in as the de facto chairman of Bajaj Auto. His first major battle was representing the company's interests at the MRTP hearings. The hearing finally wound down in 1975, in favour of Bajaj.

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As the chairman of Bajaj Auto

Rahul Bajaj reflects on the 1970s as having been the toughest decade of his life. Apart from the economy being on a downturn and access to capital being challenging, he lost his father to a sudden heart attack in 1972.

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Scooters rolling off the line at the Bajaj Auto plant in Akurdi

"A leader without a team can't do much, but howsoever good a team, if it doesn't have a good leader, it won't have direction." - Rahul Bajaj on how he built Bajaj Auto into one of the world’s largest scooter manufacturers.

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Bajaj makes the cover of Time Magazine, Indonesia

With Rahul Bajaj at the helm, the autorickshaw became globally ubiquitous. In the Philippines and South Africa, it's called a tuktuk; in Indonesia, a bajay; a chand gari in Pakistan, a posy in Madagascar, a raksha in Sudan and a bajaji in Tanzania.

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Mobility for the Middle Class – the Chetak

With Piaggio's exit from India, Rahul Bajaj realised it was time for the Bajaj scooter to have a new brand name instead of the Vespa. He chose Bajaj Chetak, after Maharana Pratap's famous battle horse.

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With the Chetak reborn

The Chetak was a household staple through the 80s and 90s. Every Indian had a memory with it - it was ‘Hamara Bajaj.’ But by around 2000, Japanese motorcycles had nearly phased out scooters in India. However, Chetak came back with a bang in 2021, as an Urbanite EV.

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Bajaj in America

Bajaj Auto hit the shores of America in the 80s, but they were up against Piaggio, their former business partners. Wary of competition, Piaggio accused Bajaj Auto of violating their old agreement and copying designs. Rahul Bajaj won the ensuing legal battle, and in the end, Piaggio quit marketing scooters in America.

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With Sharad Pawar

In the late 1980s, Rajiv Gandhi sought to reform India's aviation industry. Ratan Tata and Rahul Bajaj were handed the reins of Air India and Indian Airlines, respectively. However, the industry continued to stagnate and ultimately, Bajaj resigned from Indian Airlines in 1989.

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With his sons, Sanjiv and Rajiv

The early 1990s opened with a recession that hit the entire automobile industry, including Bajaj Auto. The time for technological innovation was right, and together, Rahul Bajaj and his sons began investing in R&D. The result was the Pulsar, which would go on to become an icon in the Indian two-wheeler market.

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With Sonia Gandhi

Rahul Bajaj was one of the early subscribers to the hire-purchase business model that evolved in the 80s. Bajaj Auto Finance came into being in March 1987 and by 1993, had a portfolio of 89,000 customers with a total loan disbursal of Rs. 100 crore. Today, the company has morphed into the fintech giant Bajaj Finance.

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En famille

"It is his intense love for his family that no one talks about...just as devoted to us as he was to his career." - Aryaman, his grandson, remembers him fondly as a revered elder under whose aegis, the Bajaj family has flourished, without deviating from the values that made them great.

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DR. GITA PIRAMAL

Author

Gita Piramal is one of India’s foremost business historians, researchers and best-selling authors. Her previous books include Business Maharajas, Business Legends, Managing Radical Change with Sumantra Ghoshal and Christopher Bartlett, Kamalnayan Bajaj - Architect of the Bajaj Group, and The Quotable Tycoon with David Olive.

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REMEMBERING RAHUL BAJAJ

DR. GITA PIRAMAL

Author

A former journalist, Piramal has contributed over 1500 articles, for several decades, to international and Indian publications such as the UK’s Financial Times and the Economic Times. She has also conceptualized and created content for three programs for CNBC-TV18, and scripted, edited, and featured in or anchored over 100 television documentaries.

Piramal founded The Smart Manager, a pioneering management magazine, and has served as a board member of some of India’s best-known companies, including the Bajaj Group companies.

A senior associate fellow at Somerville College, University of Oxford, Piramal holds a Bachelor of Arts degree in history, a Master’s in history, and a Ph.D. in business history, all from the University of Mumbai. In her spare time, she enjoys reading, music, travel, Lego, and spending time with family, especially her grandchildren.