- Bajaj Auto’s turnover crossed Rs 4,616 crore (in the 2015-16 fiscal)
A distinctive feature of the Indian business landscape is what may seem an anachronism to modern management theorists: the survival of the traditional family-owned enterprise. But success is its own emphatic vindication and, to sceptics, all one needs to cite is the adaptive brilliance of the native pool. For an exemplar, look no further than Bajaj Group chairman Rahul Bajaj, 78. The grandson of Jamnalal Bajaj, a Marwari businessman-philanthropist, Rahul took over the reins of the flagship company, Bajaj Auto, in 1965 and the entire group three years later. Under his stewardship, straddling the licence-permit raj era and the post-reforms days, the turnover of Bajaj Auto has risen from Rs 72 million to Rs 46.16 billion. Now with interests ranging beyond automobiles to home appliances and financial services, insurance, iron and steel and travel, it ranks among the top 10 business houses in India.
Armed with a quiverful of degrees, Bajaj...