Shashi Ruia

Family

Wife/Spouse: Manju Ruia

Parents: Father- Nand Kishore Ruia (businessman) (deceased) Mother- Chandrakala Ruia (deceased)

Siblings:

Brother: Ravi Ruia (businessman)

Sister: None Money Factor

Sibling: Brother- Ravi Ruia (businessman) Sister- None

Some Lesser Known Facts About Shashi Ruia

• Shashi Ruia belonged to a family of businessmen.

• started by participating in meetings, listening and understanding, moving from one department to another

• At the age of 17, he joined his family business under the guidance of his father, Nand Kishore Ruia. He rejected an opportunity to study abroad and focused on building a business empire in India.

• In 1969, he and his brother, Ravi Ruia, co-founded Essar Group after winning a Rs. 2.3 crore contract to build an outer breakwater for Chennai Port.

• In 1991, Essar became India’s first Independent Power Producer (IPP). That same year, it started a 515 MW power plant in Hazira, Gujarat. Essar went on to develop and manage power plants across India in states like Odisha and Madhya Pradesh, as well as internationally in Ontario, Canada.

• Under Shashi’s leadership, Essar earned global recognition for its ability to develop world-class assets, attracting more than $40 billion in investments from major international companies like Rosneft, Trafigura, and Brookfield.

  

• Under his vision, Essar became one of the first companies to offer mobile phone services when India’s telecom industry opened to private companies. In the 1980s, Essar Group grew into the energy sector by buying oil and gas assets.

• Shashi held significant positions in various national organisations, including serving on the managing committee of FICCI, chairing the Indo-US Joint Business Council, and being president of the Indian National Shipowners Association (INSA).

• He was also a member of the Prime Minister’s US-India CEO Forum and Indo-Japan Business Council (IJBC).

• In the 1990s, under Shashi’s leadership, Essar entered the steel industry. Later the group exited telecom, sold its oil refinery to a  Rosneft-led consortium, and handed over its steel plants to ArcelorMittal to clear debts; Essar Oil was later renamed Nayara Energy.

• In 2007, Shashi joined a group of global leaders by funding The Elders, an organisation focused on solving major world problems, alongside figures like South African theologian and priest Desmond Tutu and Ghanaian diplomat Kofi Annan.

• His lucky number was 13.

• Shashi was passionate about mentoring young talent and spoke at many events organised by organisations like Parul University.

  

• Shashi Ruia passed away due to age-related ailments in Mumbai on 25 November 2024. About a month before his demise, he had returned from the US, where he had been undergoing medical treatment.