MUMBAI, May 11: The diversified Bajaj group, having interests in auto and financial services, turned 100 years old on Monday.
Prime Minister Narendra Modi lauded the group’s work through the decades, noting that it has helped in the cause of nation-building.
“Over the decades, the Bajaj Group has played an important role in nation-building by creating jobs, fostering innovation and supporting community development,” Modi said in a congratulatory message.
The group celebrated with an event in central Mumbai on Monday that was attended by a slew of politicians, business people and others.
Founded in 1926 in Mumbai by Jamnalal Bajaj, who was also actively involved in the freedom struggle and is considered the fifth adopted son of Mahatma Gandhi, the group now has a market capitalisation of USD 148 billion and employs 1.3 lakh people.
Amid the greater thrust on domestic manufacturing, Niraj Bajaj, the chairman of Bajaj Auto, reminded that India’s journey towards self-reliance did not begin recently, but dates back a century due to pioneers like Jamnalal.
“What we say and what we do must always be the same. And perhaps that is why the Bajaj journey did not become just a story of growth. It became a story of trust,” Rajiv Bajaj, the son of the late Rahul Bajaj, who had a reputation for being outspoken, said.
The Bajaj family also went public with its plans of foraying into the healthcare segment, which will be helmed by Nirav Bajaj, the son of Niraj and a part of the fifth generation of family members running businesses.
“Within the family, we often say that society must profit from profit itself. That has meant ensuring that growth reaches even the poorest of the poor,” Nirav, the chief executive of Bajaj Integrated Health System, said.
At present, the Bajaj group, which is also present in consumer eletcricals and engineering businesses, touches a third of Indians and exports to over 100 countries.
“A hundred years is a significant journey for any institution. It reflects not only longevity, but also the ability to adapt to changing times, contribute to economic growth and remain relevant across generations,” Modi said.
Reminding of Jamnalal’s contributions to the society, including welcoming Dalits into a Hindu temple and abolition of practices like purdah, dowry and child marriage, Bajaj Electricals’ CMD Shekhar Bajaj said, “Should success be measured only in numbers and scale? Or in lives touched, values upheld, and communities strengthened. As we step into the next 100 years of Bajaj perhaps the answer to that question will define the institution we continue to build.” (PTI)
