In Memoriam 2024: Remembering India's Business Visionaries Who Passed Away This Year
Year Ender 2024: Among the most heart-wrenching losses was that of Ratan Tata, an industry giant whose passing marked the end of an era in Indian business and entrepreneurship
Year Ender 2024: The year 2024 saw the loss of some of the most influential figures from the business world, leaving behind their ideologies and the work they have done for this country. These leaders were champions of innovation, resilience, and transformation, leaving enduring legacies that will continue to inspire future generations.
Among the most heart-wrenching losses was that of Ratan Tata, an industry giant whose passing marked the end of an era in Indian business and entrepreneurship. Ratan Tata elevated the Tata Group into a global force and became a beacon for countless entrepreneurs. He redefined leadership, showing the world what it means to lead with purpose and vision.
Here Are Some Of The Most Influential Business Leaders India Lost In 2024.
Industry Titan Ratan Tata
The passing of Ratan Tata, one of India’s most revered and influential business leaders, has created an irreplaceable void in the corporate world. His unparalleled legacy was shaped by decades of visionary leadership beyond the Tata Group, profoundly impacting industries and inspiring countless generations.
The 86-year-old chairman emeritus of Tata Group passed away on October 9 while undergoing treatment for age-related health conditions.
Under his leadership, the Tata Group experienced exponential growth. Tata's leadership took the conglomerate to new heights, with significant acquisitions such as Tetley, Corus, and Jaguar Land Rover, securing the group's place as a global powerhouse.
Beyond his corporate triumphs, Ratan Tata nurtured India’s startup ecosystem. He became an early supporter and investor in successful companies like Paytm, Snapdeal, Ola, and Urban Company, backing over 40 startups across various sectors.
Essar Group Co-Founder Shashi Ruia
Shashikant Ruia, the esteemed patriarch of the Ruia family and chairman of Essar Group, passed away on November 25 at the age of 81 after a prolonged illness. A first-generation entrepreneur and industrialist, Shashi co-founded the conglomerate Essar with his brother Ravikant Ruia in 1969.
Shashi’s entrepreneurial journey began in 1965. In 1969, he laid the cornerstone for Essar by constructing an outer breakwater at Chennai Port, marking the start of a remarkable and prosperous venture. Under his leadership, Essar expanded into diverse sectors such as steel, oil refining, exploration and production, telecom, power, and construction. The group’s vast and varied portfolio flourished, elevating Essar into a global conglomerate with a strong, multi-industry presence.
Camlin Founder Subhash Dandekar
Subhash Dandekar, the founder of the iconic stationery brand Camlin, passed away on July 15 at the age of 86. At the time of his death, he was serving as the chairman emeritus of Kokuyo Camlin.
Founded in 1931 by Subhash Dandekar’s father, Digambar Dandekar, and his uncle, GP Dandekar, Camlin began as an ink manufacturing business called Dandekar & Co. In 1946, it became a private company, and in 1998, it became a public limited company. Under Subhash Dandekar’s leadership, Camlin expanded its offerings to include art materials, writing instruments, and office supplies, quickly becoming a household name across India.
In 2005, the Japanese company Kokuyo acquired a majority stake in Camlin, leading to its rebranding as Kokuyo Camlin.
Also Read: Year Ender 2024: From Ambani To Adani, The Richest People In The Country, As Per Forbes India
Raghunandan Srinivas Kamath Aka Ice Cream Man of India
Raghunandan Srinivas Kamath, fondly known as the ‘Ice Cream Man of India’ and the founder of Naturals Ice Cream, passed away in May at the age of 75 after a brief illness. The company shared the news with a heartfelt post on X, saying, "A smile that will never be forgotten. A smile that will keep inspiring us that his era will never end. To the Ice Cream Man of India, who will forever stay in our hearts and yours.”
Born in Mangaluru to a mango vendor, Kamath’s journey began in the small town of Mulki in Karnataka’s Dakshina Kannada district, where he assisted his father in the fruit business. At 14, he moved to Mumbai to work at his brother’s restaurant, starting his entrepreneurial journey.
In 1984, Kamath entered the ice cream business with just four employees and twelve flavours. Through determination, hard work, and an unwavering commitment to quality, he built Naturals Ice Cream into a beloved brand with a turnover of around Rs 300 crore and more than 165 outlets across 15 states.
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