A rare businessman who spoke his mind

The tributes that have poured in from across the political spectrum for the Pune-based industrialist Rahul Bajaj, who passed away on February 12, stand testimony to the respect and affection he commanded even from those who are otherwise used to seeing business in a very different light. Typically, in India, businesses have tended to oscillate between kowtowing and demanding – the former approach dares not question while the latter wrests conveniences or narrow advantages from the political order. The end of the ‘Licence-permit-quota Raj’ could not end this cozy relationship; in parts, it became worse as select businesses grew and used their unshackling to demand more and deliver less. This is the picture that at one point brought the pithy comment that liberalisation for some meant that profits are privatised while losses are socialised. In this milieu, Rahul Bajaj was a breath of fresh air. He came from a family associated with the freedom movement. He stood up for what he thought was right. He cared not if he spoke before the most powerful of leaders. He said his bit, carefully, respectfully but unhesitatingly. He brought his unique voice, his probing questions, and his sense of integrity to many a meeting, each of which would be so much better and lively because of his presence and his sense of duty in standing up.

Rahul Bajaj was probably the only independent business leader who asked questions on the Gujarat riots (“2002 was a lost year for Gujarat”), on criticism being not taken in the right spirit (“... if we openly criticise you, …there is no confidence you will appreciate that”) -- and he did this while running a hugely successful business group that is among the few happily associated with India and the growing up of the nation, well captured in the ad line: “Buland Bharat ki buland tasveer, hamara Bajaj” (A strong and lofty image of a strong and lofty nation, our Bajaj).

It is to be noted in the tributes that Rahul Bajaj was remembered for his stance and his outspokenness, more than for the wealth he created and the businesses he built, which were formidable. After all, the group that Rahul Bajaj chaired for long enjoys a combined market value of over Rs 8 lakh crore. This is in the tradition in which we remember true heroes – not those who were the richest in their material wealth but those who were the richest in their wealth of values. By these standards, Rahul Bajaj will live long, his story an inspiration that tells us that businesses can stand for much more than they have tended to stand for in a changing India.