Bajaj Group

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Bajaj Group
Type Privately held company
Industry Conglomerate
Founded 1926
Founder(s) Jamnalal Bajaj
Headquarters Pune, Maharashtra[1], India
Area served Worldwide
Key people Mr Shishir Bajaj
(Chairman & MD),[2] Mr. Kushagra Bajaj, Vice Chairman,[3]
Products Automobile
financial services
home appliances
electrical
iron and steel
insurance
Revenue INR380 billion (US$6.3 billion)
Employees 36,000 (as of 2010)
Subsidiaries Bajaj Auto, Bajaj Electricals, Mukand Ltd & Bajaj Hindusthan Ltd
Website www.bajajgroup.org

Bajaj Group (pronounced: [buh-jaaj]) is an Indian conglomerate founded by Jamnalal Bajaj in 1926, Mumbai.[4][5] Bajaj Group is one of the oldest & largest conglomerates based in Mumbai, Maharashtra.[6] The group comprises 34 companies & its flagship company Bajaj Auto is ranked as the world's fourth largest two- and three-wheeler manufacturer.[7] Some of the notable companies are Bajaj Electricals, Mukand Ltd & Bajaj Hindusthan Ltd.[8] Involvement in various industries that include automobiles (2- and 3-wheelers), home appliances, lighting, iron and steel, insurance, travel and finance. The group is headed by Rahul Bajaj.

Leadership[edit]

Jamnalal Bajaj (1884–1942)[edit]

The Bajaj Group of Companies was founded by Jamnalal Bajaj and enjoyed phenomenal growth. However, Bajaj's business interests were the means to a larger and holistic end.

Kamalnayan Bajaj (1915–1972)[edit]

Kamalnayan the eldest son of Jamanalal Bajaj started shouldering family responsibilities from an early age. After completing his education from University of Cambridge, England, Kamalnayan returned to India to assist his father Jamanalal, both in business and in social service. Kamalnayan was a man of strict principles, which he never swerved from. He had earmarked a large portion of the income from his family business for public causes and social service programmes, the mantle of all of which he had inherited from his father. He always had a sense of a larger social mission, transcending the dictates of business and the bottom line.

Every new business venture that Kamalnayan got into, eloquently testified to his legendary business acumen. With tremendous foresight and a spirit of zestful enterprise, Kamalnayan acquired ailing industrial units and then miraculously turned them around. He went on to expand the business by branching into manufacture of scooter, three-wheeler, cement, alloy casting and electricals. In 1954, Kamalnayan took over active management of the Bajaj Group companies.

Ramkrishna Bajaj (1924–1994)[edit]

Ramkrishna Bajaj, the younger son of Jamanalal, took over after the demise of his elder brother Kamalnayan Bajaj in 1972. In addition to shouldering business responsibilities, Ramkrishna’s energies were largely directed towards the social service and social welfare programmes of the Bajaj Group. He was of the firm conviction that he could make an impactful and meaningful contribution to the community through social work.

Ramkrishna had a flair and panache for working with youth. He was elected as the Chairman of World Assembly for Youth (India) in 1961. He also held the office of the Managing Trustee of the Indian Youth Centres Trust, which conceived and created the Vishwa Yuvak Kendra in 1968, a trail-blazing organisation in youth development.

Rahul Bajaj (1938 – present)[edit]

Rahul Bajaj, the chairman and managing director of the Bajaj group, is one of India's renowned industrialists and is internationally respected for his business expertise and entrepreneurial character. Rahul Bajaj is the grandson of Jamnalal Bajaj, who founded the Bajaj Group. He completed his schooling from Cathedral, a school in Bombay. Then he further pursued his studies from St Stephen's College, Delhi and Harvard University, USA. He took over control of the Bajaj Group in 1965 and successfully established one of India's best companies.

Bajaj Group companies[edit]

  • Bajaj Auto – Manufacturers of Scooters, Motorcycles and Three-wheeler vehicles and spare parts.
  • Bajaj Auto Finance Ltd – Deals in financial services including hire purchase financing & leasing.
  • Bajaj Finserv Ltd – Financial Services
  • Bajaj Holdings & Investment Ltd – Investment company focusing on new business opportunities
  • Mukand Ltd – Manufacturers of stainless, alloy and special steels including carbon and alloy steels.
  • Bajaj Electricals Ltd – Manufacturers of electric fans, highmasts, lattice closed towers and poles.
  • Bajaj Hindusthan Ltd – Manufacturers of white crystal sugar and industrial alcohol.
  • Bajaj Ventures Ltd – Involved in manufacturing and trading of power tools and manufacturing of houseware and parts.
  • Bajaj Corp Ltd – FMCG - Personal Care (Hair Care & Skin Care) Business
  • Maharashtra Scooters Ltd – Manufactures of scooters.
  • Bajaj Allianz General Insurance Company Ltd – General insurance business
  • Bajaj Allianz Life Insurance Co. Ltd
  • Bajaj Financial Solutions Ltd – Distribution of financial products and services
  • Bajaj Allianz Financial Distributors Ltd – Distribution of financial products
  • Bajaj Auto Holdings Ltd – Investment Company
  • PT Bajaj Auto Indonesia (PTBAI) – Bajaj auto venture in Indonesia
  • Bajaj Auto International Holdings BV – Bajaj auto venture in Netherlands
  • Hind Lamps Ltd – Manufactures GLS, fluorescent, miniature lamps and major components such as glass shells, miniature and aluminium caps, lead glass
  • Mukand Engineers Ltd – Construction, fabrication and erection of industrial and infrastructural projects and infotech business
  • Mukand International Ltd – Trading in metals, steel and ferro alloys
  • Bajaj Sevashram Pvt Ltd – Investment activities
  • Jamnalal Sons Pvt Ltd – Investment and finance company
  • Rahul Securities Pvt Ltd
  • Shekhar Holdings Pvt Ltd
  • Madhur Securities Pvt Ltd
  • Niraj Holdings Pvt Ltd
  • Shishir Holdings Pvt Ltd
  • Kamalnayan Investments & Trading Pvt Ltd
  • Sanraj Nayan Investments Pvt Ltd
  • Hercules Hoists Ltd – Manufactures 'INDEF' brand materials handling equipment such as triple spur gear chain pulley blocks, chain electric hoists and wire rope
  • Hind Musafir Agency Pvt Ltd – Travel agency
  • Bajaj International Pvt Ltd – Export electric fans, GLS lamps, fluorescent tubes, light fittings, etc.
  • Bachhraj Factories Pvt Ltd – Ginning and pressing of cotton bales
  • Baroda Industries Pvt Ltd – Investment company
  • Jeewan Ltd – Investment company
  • Bachhraj & Co Pvt Ltd – Investment company
  • The Hindustan Housing Co Ltd – Services company
  • Hospet Steels Ltd – Steel plant consisting of IronMaking Division, Steel Making Division and Rolling Mill Division

Corporate social responsibility[edit]

Bajaj Group is involved in a variety of welfare activities, which are carried out with the support of its companies and trusts. The social and welfare objectives of the Bajaj Group are being fulfilled through the many Trusts and Foundations it has established. Spending up to Rs. 100 million (US$ 2.15 million) every year.[9]

Education[edit]

Shiksha Mandal Wardha was established in 1914 by Jamnalal Bajaj for educating the youth of India. This Mandal was a part of the national movement and received support for several national leaders including Mohandas Karamchand Gandhi. It was also the first institute in India to prepare text books and conduct examinations in Hindi and Marathi at the graduate level. Currently, the Mandal runs two commerce colleges (in Wardha & Nagpur, a Science College and Agricultural college and Rural Institute and a Polytechnic at Wardha. It has almost 10,000 students on its rolls. 6 of its 7 colleges are government aided and hence its fees are low. It aims to provide values based, high quality education and It has succeeded in quite a measure. Its Science college has been adjudged as a College with Potential for Excellence by the UGC. Its Agriculture college has been rated as 'A' by its affiliating university and it's Polytechnic has been rated as "excellent" by MSBTE.

Kamalnayan Bajaj School location at Chinchwad was established in 1976. Initially it started off as a school providing education from Lower KG to grade 12 and in 2007 it also started running a junior college.

Janaki Devi Bajaj Institute of Management Studies was established in August 1997. It is a Centre of Management Studies and the Postgraduate Department of Management Education of the SNDT Women's University. It offers a variety of full-time and part-time professional courses at Masters level and postgraduate Diploma courses in management specifically for women.

Jamnalal Bajaj Institute of Management Studies, set up by the University of Mumbai in collaboration with the Graduate School of Business, Stanford University. With a donation from the Jamnalal Bajaj Seva Trust, was established in 1965. It was the first to start a full-time 2-year Masters Programme in Management Studies (MMS) in India. Besides that, it offers various management courses for executives.

Bajaj Group volunteered to adopt 3 Industrial training institute for Upgradation – ITI Mulshi, ITI Haveli and ITI Ramnager. A two-day training program was organised for all the staff of the Institutes, at a remote location, to "open the minds" to "aim high" and receive better ideas and go out and achieve excellence.

The company enabled Education of eligible bright Backward students with the launch of a program that would help scheduled castes and scheduled tribes students achieve academic excellence and make them at par with those who can afford coaching for top institutes.

Health[edit]

Kamalnayan Bajaj Hospital in Aurangabad was established in 1990 as a hospital and research center. Although it was relatively small when it started, it has soon grown into a very well equipped hospital with 225 beds, 60 full-time doctors and 150 staff, organ transplant center, well-equipped Cath Lab, CT Scan, MRI, Mammography & Dept of radiation oncology and so on.

The Bajaj-YCM Hospital A.R.T Center for HIV/Aids in Pimpri was established as a Public Private Partnership between Government of IndiaMinistry of Health and Family WelfareNational AIDS Control Organisation (NACO) and Confederation of Indian Industry (CII) to provide better healthcare facilities to Aids patients.

Women empowerment[edit]

Among others, one of the objectives of the Jankidevi Bajaj Gram Vikas Sanstha is to empower women and it has been doing so by training women in using improved technology for storage of food grains and initiating goat rearing projects owned and managed by women, emphasising the importance of family planning particularly tubectomy operations and securing loans for women members for both consumption and income generation.

IMC Ladies' Wing Jankidevi Bajaj Puraskar for Rural Entrepreneurship, which commemorates the birth centenary of the late Smt. Jankidevi Bajaj, is an award conferred for outstanding contribution of women working for rural development

Self-reliance[edit]

The Jamnalal Bajaj Seva Trust initially assisted Sarvodaya workers and Gandhian constructive programmes. However, some years down, it established the International Sarvodaya Centre in Vishwaneedam with an aim to promote agriculture, dairy development, rural development and training local women and youth for self-employment. It also funded the establishment of Jamnalar Bajaj Institute of Management Studies and undertook the maintenance of Bajajwadi at Wardha. Finally, the trust has also made significant contributions to the promotion of arts and culture through the Kamalnayan Bajaj Hall and Art Gallery.

The Jankidevi Bajaj Gram Vikas Sanstha also pays great emphasis on self-reliance and it helps the rural population to do so by building family-size biogas plants, training women in using improved technology for storage of food grains and so on.

The IMC Ramkrishna Bajaj National Quality Awards was instituted in 1997 to encourage Indian Industry to be alert to the importance of quality in the context of global competitiveness. The Quality Award is presented every year to companies in manufacturing, service sector and small business company.

The Institute of Gandhian Studies, established in 1987, promotes long-term and short-term study courses on Gandhian thoughts and methodology. The courses have attracted participation of students, youth and academicians from countries like the U.S., U.K., Germany, Holland, Norway and many Asian countries. In addition to the courses, the institute also organises seminars, consultative meets for Panchayat workers, special courses for women members of the Panchayats and trade union workers.

Rural development[edit]

The trusts that work towards rural development include Jankidevi Bajaj Gram Vikas Sanstha, Jamnalal Bajaj Foundation, Jamnalal Kaniram Bajaj Trust and Jamnalal Bajaj Seva Trust. The welfare activities are carried out in collaboration with CAPART, Khadi and Village Industries Commission, NEDA, respective State Governments and beneficiaries.

The rural development activities were aimed at improving the living conditions of the rural population via income generation, training for self-employment, improved health and sanitation, supply of drinking water, improved agricultural and land maintenance practices such as horticulture, social forestry and reclamation of waste land. Other activities include distribution of solar-lantern & solar cookers, installation of bio-gas plants, deepening and widening of wells and drinking water scheme, tree plantation and kitchen gardens, lift irrigation, veterinary services like insemination, vaccination and distribution of cattle feed, watershed development and building of model villages, distribution of agricultural equipment and building a center of Child Labor Welfare.

In addition, the Bajaj Group has also undertaken several educational activities. They not only focus on mainstream education through the maintenance and running of Bal Sanskar Kendras, Balwadis and conducting study tours, but also on vocational education through tailoring classes, literacy and hobby classes, training programmes for self-employment, and so on. Jamnalal Bajaj Award was established in 1978 by the Jamnalal Bajaj Foundation.[10]

Some of the regions where these rural development activities have been implemented include Wardha, Pune, Aurangabad districts of Maharashtra, villages surrounding Shikohabad in Uttar Pradesh, Kashi-ka-bas village (birthplace of Jamnalal Bajaj) and some of the surrounding villages in Sikar district of Rajasthan, and some of the villages adjoining Vishwaneedam, Bangalore.

Jankidevi Bajaj Gram Vikas Sanstha, a trust, named after the Padma Vibhushan late Jankidevi Bajaj, wife of late Shri Jamnalal Bajaj, was established in 1987. The aim of this trust is to work towards improving the quality of life of people in rural areas, eliminating poverty, empowering women, development of human and natural resources, promoting ecological balance, and so on. At present, it is being implemented in 24 remote and backward villages in the cities of Pune and Aurangabad. Some of the initiatives implemented include water conservation projects for improving agricultural productivity, construction of latrines, family size biogas plants, training women in using improved technology for storage of food grains, goat rearing projects owned and managed by women, vermiculture projects, improving agricultural implements in 11 villages, dairy development, family planning particularly tubectomy operations, polio immunisation campaigns, securing loans for women members for both consumption and income generation.

Environment & natural resources[edit]

The Jankidevi Bajaj Gram Vikas Sanstha has taken several steps towards improving the ecological balance. Some of its activities in this area include water conservative projects for improving agricultural productivity, helping build family-size biogas plants, conducting vermiculture projects, and so on.

Awards & recognition[edit]

The Brand Trust Report, India Study, 2011 has ranked Bajaj in 12th position. Standing on the 12th position, it is one of the few Indian brands with an 'international' distinction, and that of being the largest producer of scooters in the world.[11]

See also[edit]

References[edit]

  1. ^ "Bajaj Offices". Bajajelectricals.com. Retrieved 2011-01-28. 
  2. ^ "Bajaj group sitting on cash reserve of Rs 29,000 crore: Shishir Bajaj". The Economic Times. 9 October 2010. Retrieved 2011-01-28. 
  3. ^ "Mr. Kushagra Bajaj, Vice Chairman, Bajaj Group". Bajaj group. 
  4. ^ "Bajaj Group targets banking space". Financialexpress.com. 22 July 2010. Retrieved 2011-01-28. 
  5. ^ "In Bajaj family, business sense over-rules ties". Financial Express. 6 April 2012. 
  6. ^ "Bajaj Electricals Bajaj Group". Bajajelectricals.com. Retrieved 2011-01-28. 
  7. ^ "Bajaj Group India – Bajaj Group of Companies – Profile of Bajaj Group of Companies – Bajaj Group History". Iloveindia.com. 21 July 2007. Archived from the original on 1 January 2011. Retrieved 2011-01-28. 
  8. ^ "Business Line : Today's Paper News : Bajaj group dispute resolved amicably". The Hindu Business Line. Retrieved 2011-01-28. 
  9. ^ "Beyond Profits". Bajaj Electricals. 
  10. ^ "Jamnalal Bajaj Award". Jamnalal Bajaj Foundation. 
  11. ^ "India's 50 most trusted brands". The Brand Trust Report. 

External links[edit]