New Delhi: Veteran industrialist Rahul Bajaj died today in Pune, he was 83-years old.

Rahul Bajaj was synonymous with Bajaj Auto. Bajaj group has released a statement that the veteran industrialist died in the presence of his closest family members.

He was not keeping well for some time and was admitted to the hospital. Maharashtra government has decided to conduct state funerals to the veteran industrialist.

Rahul Bajaj had resigned as Bajaj Auto Chairman in April last year. However, he was appointed as the firm's Chairman Emeritus for five years.

One of the most famous taglines in the Indian corporate ad industry has been "you just can't beat a Bajaj" and the "Hamara Bajaj" for the company's iconic two-wheeler.

Rahul Bajaj headed the Bajaj group of companies which has a presence in the automobile market in all segments. Bajaj has life insurance, investment, consumer finance, home appliances, electric lamps, wind energy, special alloy and stainless steel, material handling equipment and travel.

Bajaj Chetak scooter become an aspirational symbol of India’s middle class. Humara Bajaj tune becoming synonymous with their hopes of a better future.

In November 2019, at an event organised by the Economic Times in Mumbai where Home Minister Amit Shah was present, the veteran industrialist spoke about the government's 'stifling of criticism', among other things.

"This environment of fear, it's definitely on our minds. "You (the government) are doing good work; and despite that, we don't have the confidence that you'll appreciate criticism," he had said.

In 2005, the industrialist had started passing the baton of the company to son Rajiv Bajaj, who became the managing director of Bajaj Auto.

Prime Minster Narendra Modi said the veteran industry leader was a "great conversationalist" and will be "remembered for his noteworthy contributions to the world of commerce and industry".

“Shri Rahul Bajaj Ji will be remembered for his noteworthy contributions to the world of commerce and industry. Beyond business, he was passionate about community service and was a great conversationalist. Pained by his demise. Condolences to his family and friends. Om Shanti”, ”, Prime Minister Tweeted.

President Ram Nath Kovind also mourned the loss of the industry doyen. “Saddened to learn of Shri Rahul Bajaj's demise. A doyen of Indian industry, he was passionate about its priorities. His career reflected the rise and innate strength of the nation's corporate sector. His death leaves a void in the world of industry. My condolences to his family”, the President tweeted.

Former Congress president Rahul Gandhi called the industrialist's death a "big loss to India".

“Rahul Bajaj's passing is a big loss to India. We have lost a visionary whose courage made us proud.

My love and condolences to his family and loved ones”, he said in condolence message.