Prime Minister Narendra Modi on Saturday condoled the death of business tycoon and ITC Group chairman YC Deveshwar, saying he made a strong contribution to the Indian industry.
Deveshwar, 72, who passed away at a private hospital in Gurugram near here this morning after a brief illness. “Shri YC Deveshwar made a strong contribution to Indian industry. His efforts helped ITC become a professionally-run Indian company with a global footprint. Saddened by his demise. My thoughts are with his family, friends and the ITC group in this hour of grief,” the Prime Minister said in a tweet.
Condolence messages also poured in from other political and business leaders. Finance Minister Arun Jaitley tweeted: “Saddened by the death of Yogi C Deveshwar, Chairman ITC. Yogi excelled as a corporate professional and an entrepreneur and took his company to great heights. May God render peace to the departed soul & give to his family strength to bear this loss.”
In a statement, the Confederation of Indian Industry (CII) expressed its condolences at the demise of Deveshwar, terming it a great loss for the Indian industry. Deveshwar was the president of CII in 2005-06.
In a tweet, Assocham President BK Goenka said he was a “tall leader of India Inc who immensely contributed to the industry and society”. Chairman of RP-Sanjiv Goenka Group, Sanjeev Goenka, said, “Yogi was a tall leader and a visionary.
I have lost a friend. I am deeply saddened.”
Ambuja Neotia Group Chairman Harsh Neotia said Deveshwar was an extraordinary professional, who steered the company in “troubled times and diversified it from tobacco to FMCG and hospitality. He has been a family friend for two generations.”
Keventer Agro CMD Mayank Jalan credited Deveshwar for putting Kolkata on the global business map.
Srei Infrastructure Finance CMD Hemant Kanoria said, “He built a great company like ITC and diversified it into so many areas, all with sustainable long-term business and social models.”