Shashi Ruia Invested in Businesses & People with Purpose

With great power comes great responsibility. While some possess financial wealth, a select few are blessed with extraordinary vision and deep empathy. How they choose to use these gifts tends to define their legacy. Some broadcast their efforts, seeking public acknowledgment, while others quietly work behind the scenes, driven by a simple desire to help. Shashi Ruia (1943-2024), Chairperson and Co-Founder of the Essar Group, belonged to the latter group — a man who made a profound difference in countless lives, often without the world even knowing.

In 2004, when a devastating tsunami struck the Indian coastline, eight villages in Tamil Nadu were left in ruins. The residents, primarily fishermen, had lost everything — homes, belongings, and most critically, their boats, which were their lifeline.

Amidst this despair, hope arrived quietly. A man from Mumbai appeared at their doorstep, bringing with him a generous bounty of clothes, utensils, and motorised fishing boats! This man was Shashi Ruia, though the villagers didn’t know him at that time. He didn’t stay for applause or recognition; he simply provided what was needed and left. His contributions not only helped these communities recover from the disaster but also set them on a path to development.

Lata Kumaraswami, the Managing Trustee of the Tamil Nadu Kidney Research Foundation, recounts a similar story. The Foundation, which provides free or subsidised dialysis for the poor, received its first dialysis machine from Mr Ruia. Noticing her dedication, Mr Ruia continued to support the Foundation, quietly donating two machines per year. “I have never seen Mr Shashi Ruia. I don’t know who this silent benefactor is, who came forward so spontaneously for the cause and helped the needy here in Chennai,” says Lata. Such was Ruia’s subtlety and commitment to making a difference without seeking recognition.

Mr Ruia’s compassion extended beyond individual contributions. He quietly built 100 homes for flood victims in Karnataka, providing shelter and security to those who had lost everything, all without attracting media attention. His generosity was vast, yet deeply personal, touching the lives of many.

A testament to his global outlook, Mr Ruia was a member of ‘The Elders,’ a group of veteran diplomats and leaders, including eminent names like Nelson Mandela, Kofi Annan, and Jimmy Carter, who worked to address the world’s most pressing problems. This involvement reflected his belief in large-scale, positive impact.

Through the Essar Foundation, Mr Ruia formalised his philanthropic efforts in health, education, livelihood, sports and community welfare. In remote villages near Essar’s plant sites in Hazira, Jamnagar, and Bailadila, he established Self Help Groups such as Lok Vikas Kendra, which continue to help many secure livelihoods. He also supported healthcare by building infrastructure and treatment facilities in hospitals such as Surat Hospital and Breach Candy Hospital, organising health camps in remote areas, and running mobile medical vans. Additionally, Mr Ruia promoted sports among youth in remote villages by setting up facilities.

His commitment to education was equally strong; supporting schools with generous donations and infrastructure improvements. He founded the Essar International School in Hazira, now highly regarded. The school he set up in Lonavla near Mumbai, was his pet project, and has helped educate and elevate numerous kids from underprivileged background. These are just a few of the numerous initiatives he launched through his foundation, initiatives, and institutions that live on, and endure.

At one point, his efforts positively impacted over 500,000 lives annually across more than 500 villages. Indeed, his philanthropic endeavours have left behind the most profound, and yet understated, impact. This commitment to social advancement exemplifies his holistic vision of success, one that encompassed not just business growth but societal progress as well.

And yet, Mr Ruia’s sensitivity wasn’t confined to large-scale efforts. He was known for his personal touch, quietly reaching out to individuals facing tragedies — whether through financial assistance, job offers, counseling, or mentorship. Those close to him speak of numerous instances where he stepped in to help individuals affected by accidents, personal tragedies, natural disasters, and even terrorist attacks.

On the business front, with climate action taking centre stage, Mr Ruia, despite his advanced age, made efforts to rebalance Essar’s entire portfolio from carbon to clean energy. Building sustainable businesses was always his passion, leading him to create assets that reduce, reuse, and recycle, generating minimal waste.

He built reservoirs and water treatment plants at project sites, giving back more to the water table than what factory operations consumed. He laid emphasis on energy transition, leveraging green power from hydrogen, LNG, and renewables, and investing billions in creating new infrastructure for future generations.

Under his guidance, Essar’s future investments revolved around three key pillars: Decarbonisation, Decentralisation, and Digitalisation. It was Mr Ruia’s foresight that led Essar Power to embrace a new era of green energy and deliver reliable, efficient, and environmentally-conscious energy solutions that bolster industrial growth and national energy security.

In fact, Mr Ruia's entrepreneurial odyssey is a testament to his commitment to national progress and societal uplift. Each business venture was conceived not merely through the lens of profitability, but with a profound sense of purpose, addressing fundamental questions: How will this initiative benefit the nation? Will it elevate the lives of the underprivileged? His consistent affirmative responses to these queries had a rare blend of nationalism, humanism and social responsibility that defined his career.

As the world moves towards sustainable businesses and energy transition, his legacy will no doubt continue to shape India’s journey toward economic strength and global influence.

(Views expressed are personal. The author is the director of Essar Group.)