Bajaj Group

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Bajaj Group
Public Company
Industry Conglomerate
Founded1926;93 years ago (1926)
Founder Jamnalal Bajaj
Headquarters,
Area served
Worldwide
Key people
Rahul Bajaj, Shekhar Bajaj, Madhur Bajaj, Niraj Bajaj, Rajiv Bajaj, Sanjiv Bajaj
Products Automobile
Financial Services
Home Appliances
Electrical
Iron and Steel
Insurance
Revenue425.540 billion (US$6.2 billion)
Number of employees
45,000
Subsidiaries Bajaj Auto Ltd., Bajaj Holdings & Investment Ltd., Bajaj Finserv Ltd, Bajaj Finance Limited, Bajaj Allianz General Insurance Company Ltd., Bajaj Allianz Life Insurance Company Ltd., Bajaj Electricals Ltd, Mukand Ltd, Hercules Hoists Ltd, Mukand Engineers Ltd
Website www.bajajgroup.org

Bajaj Group (pronounced: [buh-jaaj]) is an Indian conglomerate founded by Jamnalal Bajaj in Mumbai in 1926. [2] [3] Bajaj Group is one of the oldest and largest conglomerates based in Mumbai, Maharashtra. [4] The group comprises 37 companies and its flagship company Bajaj Auto is ranked as the world's fourth largest two- and three-wheeler manufacturer. [5] Some of the notable companies are Bajaj Auto Ltd, Bajaj Finserv Ltd, Hercules Hoists Ltd, Bajaj Electricals, Mukand Ltd, Bajaj Hindusthan Ltd and Bajaj Holding & Investment Ltd. [6] The group has involvement in various industries that include automobiles (2- and 3-wheelers), home appliances, lighting, iron and steel, insurance, travel and finance.

India Country in South Asia

India, also known as the Republic of India, is a country in South Asia. It is the seventh-largest country by area, the second-most populous country, and the most populous democracy in the world. Bounded by the Indian Ocean on the south, the Arabian Sea on the southwest, and the Bay of Bengal on the southeast, it shares land borders with Pakistan to the west; China, Nepal, and Bhutan to the north; and Bangladesh and Myanmar to the east. In the Indian Ocean, India is in the vicinity of Sri Lanka and the Maldives; its Andaman and Nicobar Islands share a maritime border with Thailand and Indonesia.

Conglomerate (company) two or more corporations that fall under one corporate group

A conglomerate is a combination of multiple business entities operating in entirely different industries under one corporate group, usually involving a parent company and many subsidiaries. Often, a conglomerate is a multi-industry company. Conglomerates are often large and multinational.

Jamnalal Bajaj Indian activist

Jamnalal Bajaj was an Indian industrialist, a philanthropist, and Indian independence fighter. He founded the Bajaj Group of companies in the 1920s, and the group now has 24 companies, including six that are listed on the bourses. The group now has 24 companies, including 6 listed companies. He was also a close and beloved associate of Mahatma Gandhi, who is known to have often declared that Jamnalal was his fifth son.

Contents

History

Jamnalal Bajaj (1889–1942)

The Bajaj Group of Companies was founded by Sri Jamnalal Bajaj.

Kamalnayan Bajaj (1915–1972)

Kamalnayan Bajaj the eldest son of Jamanalal Bajaj, After completing his education from University of Cambridge, England, returned to India to assist his father both in business and in social service. He expanded 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.

Kamalnayan Bajaj (1915-1972) was an Indian businessman and politician.

University of Cambridge University in Cambridge, United Kingdom

The University of Cambridge is a collegiate public research university in Cambridge, United Kingdom. Founded in 1209 and granted a Royal Charter by King Henry III in 1231, Cambridge is the second-oldest university in the English-speaking world and the world's fourth-oldest surviving university. The university grew out of an association of scholars who left the University of Oxford after a dispute with the townspeople. The two 'ancient universities' share many common features and are often referred to jointly as 'Oxbridge'. The history and influence of the University of Cambridge has made it one of the most prestigious universities in the world.

Ramkrishna Bajaj (1924–1994)

Ramkrishna Bajaj, the younger son of Jamanalal, took over after the death 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 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 youth development organisation

Rahul Bajaj

Rahul Bajaj, the chairman and managing director of the Bajaj group. is the grandson of Jamnalal Bajaj. He completed his schooling from Cathedral, a school in Bombay. Then he pursued his studies from St Stephen's College, Delhi, Government Law College, Mumbai and Harvard University, USA. He took over control of the Bajaj Group in 1965 and established one of India's largest conglomerates. The President of India, presented CII President’s Award for Lifetime Achievement to Mr. Rahul Bajaj on 27 April 2017

Rahul Bajaj Indian politician

Rahul Bajaj is an Indian billionaire businessman, politician and philanthropist. He is the chairman of Indian conglomerate Bajaj Group and member of parliament. Bajaj comes from the business house started by a Rajasthani Marwadi businessman Jamnalal Bajaj. He was awarded the third highest civilian award Padma Bhushan in 2001. In a recent interview for the Creating Emerging Markets project at the Harvard Business School, Bajaj provides a devastating critique of Indian industrial policies before the liberalization in the 1990s.

Harvard University Private research university in Cambridge, Massachusetts, United States

Harvard University is a private Ivy League research university in Cambridge, Massachusetts, with about 6,700 undergraduate students and about 15,250 postgraduate students. Established in 1636 and named for its first benefactor, clergyman John Harvard, Harvard is the United States' oldest institution of higher learning. Its history, influence, and wealth have made it one of the most prestigious universities in the world.

Bajaj Group companies

Bajaj Allianz General Insurance company

Bajaj Allianz General Insurance is a private general insurance company in India. The company is a joint venture between Bajaj Finserv Limited owned by the Bajaj Group of India and Allianz SE, a German financial services company.

Bajaj Allianz Life Insurance

Bajaj Allianz Life Insurance is a joint venture between Bajaj Finserv Limited owned by the Bajaj Group of India and Allianz SE, a European financial services company. Being one of the private insurance companies in India, it offers insurance products for financial planning and security.

Bajaj Corp

Bajaj Corp Ltd is an Indian consumer goods company with major brands in hair care. It is part of the Bajaj Group, founded by Jamnalal Bajaj. Bajaj Group has interests in varied industries including Sugar, Consumer Goods, Power Generation and Infrastructure Development.

Corporate social responsibility

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 100 million (US$1.4 million) every year. [7]

Education

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 and in 2017 started its first engineering institution Bajaj institute of technology, wardha (http://bit.shikshamandal.org/). It has almost 10,000 students on its rolls. 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 its 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.

Dnyaneshwar Vidyapeeth was supported by Madhur Bajaj Vice-Chairman, Bajaj Auto Ltd for its autonomous engineering school [8] which offers a variety of engineering professional courses.

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. .

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

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

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 healthcare facilities to Aids patients.

Women empowerment

The objective 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

The Jamnalal Bajaj Seva Trust initially assisted Sarvodaya workers and Gandhian constructive programmes. It later established the International Sarvodaya Centre in Vishwaneedam to promote agriculture, dairy development, rural development and training local women and youth for self-employment. It also funded the Jamnalar Bajaj Institute of Management Studies and undertook the maintenance of Bajajwadi at Wardha. It also has supported the Kamalnayan Bajaj Hall and Art Gallery.

The Jankidevi Bajaj Gram Vikas Sanstha and it helps the rural population develop self-reliance 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. It also organises seminars, consultative meets for Panchayat workers, special courses for women members of the Panchayats and trade union workers.

Rural development

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. They are 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 biogas 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. [9]

Environment & natural resources

The Jankidevi Bajaj Gram Vikas Sanstha has engaged in water conservation projects for improving agricultural productivity, helping build family-size biogas plants, conducting vermiculture projects, and so on.

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. In the Brand Trust Report 2012, Bajaj was ranked 7th Most Trusted brand in India and in Brand Trust Report 2013 Bajaj slipped one place to the 8th position among India's Most Trusted brands.

In 2014, Bajaj was ranked 46th among India's most trusted brands by the Brand Trust Report 2014. The Report also listed Bajaj Pulsar, Bajaj Allianz, Bajaj Electricals and Bajaj Almond Oil among India's most trusted brands.<ref> "India's Most Trusted Brands 2014". Archived from the original on 2 May 2015.</refes}

Related Research Articles

Bajaj Auto Indian two-wheeler and three-wheeler manufacturing company

Bajaj Auto Limited is a global two-wheeler company and three-wheeler manufacturing company based in India. It manufactures motorcycles, scooters and auto rickshaws. Bajaj Auto is a part of the Bajaj Group. It was founded by Jamnalal Bajaj in Rajasthan in the 1940s. It is based in Pune, Maharashtra, with plants in Chakan (Pune), Waluj and Pantnagar in Uttarakhand. The oldest plant at Akurdi (Pune) now houses the R&D centre 'Ahead'.

Wardha City in Maharashtra, India

Wardhapronunciation  is a city and a municipal council in Wardha district in the Indian state of Maharashtra. It is the administrative headquarters of Wardha district. Wardha gets its name from the Wardha River which flows at the north, west and south boundaries of district. Founded in 1866, the town is now an important center for the cotton trade. It was an important part of Gandhian Era.

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Hero Motocorp Ltd., formerly Hero Honda, is an Indian motorcycle and scooter manufacturer based in New Delhi, India. The company is the largest two-wheeler manufacturer in the world, and also in India, where it has a market share of about 46% in the two-wheeler category. The 2006 Forbes list of the 200 World's Most Respected Companies has Hero Honda Motors ranked at #108. On 31 March 2013, the market capitalisation of the company was 30,800 crore (US$4.5 billion).

Janaki Devi Bajaj was an Indian independence activist who was jailed for participating in Civil Disobedience Movement in 1932.

Wainganga College of Engineering and Management, Dongargaon, Wardha Road, Nagpur was established in 2008.

Gita Piramal, also known as Dr. Gita Piramal is an Indian writer and business historian.

Mukand Ltd is an India-based manufacturer of stainless steel, alloy steel, and stainless steel billets, and is an exporter of hot rolled bars. The company manufactures iron and steel products, steel castings, steel structurals, Electrical Overhead Travelling (EOT) and other cranes, and other industrial machinery. Mukand Ltd is part of the Bajaj Groups of companies. It makes India's largest gantry crane, with an 80-tonne capacity and 60-metre span, with monobox girder and underslung trolley.

Jamnalal Bajaj Award Indian award for promoting Gandhian values, community service and social development

Jamnalal Bajaj Award is an Indian award, for promoting Gandhian values, community service and social development. Established in 1978, by the Jamnalal Bajaj Foundation of Bajaj Group, it is given annually in four categories, and usually presented by the President, Vice president, Prime Minister of India or a leading figure. The foundation currently headed by Rahul Bajaj, was created in 1977, in the memory of group founder, philanthropist and a close associate of Mahatma Gandhi, Jamnalal Bajaj. The award ceremony takes place on his birth anniversary, November 4.

Bala Deshpande is the Senior Managing Director of the venture capital firm, New Enterprise Associates (India) since 2008. NEA is a venture capital firm with over US$13 billion in committed capital. NEA started direct investments in India during the downturn in 2008 and has since built a portfolio of 14 companies.

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Amalprava Das, also known as Amal Prabha Das, was an Indian social worker, Gandhian and the founder of Kasturba Ashram at Sarania Hills, Assam, a self help group for women and their economic upliftment and Guwahati Yubak Sevadal, a non governmental organization working for the social development of harijans. The Government of India honoured her in 1954, with the award of Padma Shri, the fourth highest Indian civilian award for her contributions to the society, placing her among the first recipients of the award. A recipient of the 1981 Jamnalal Bajaj Award, Das was honoured again by the Government of India with the second highest civilian award of Padma Vibhushan which she declined to accept.

Padmanabha Pillai Gopinathan Nair is an Indian social worker, Gandhian, independence activist and the chairman of Mahatma Gandhi National Memorial Trust, popularly known as Gandhi Smarak Nidhi, a trust managed by the Government of India. He participated in the Quit India movement of 1942 and worked alongside Vinoba Bhave to promote Bhoodan and Gramdan movements. He is the initiator of the camp movement, a student program, as a part of the Construction Movement of Mahatma Gandhi. He is a recipient of the Jamnalal Bajaj Award, among other honors. The Government of India awarded him the fourth highest civilian honour of the Padma Shri, in 2016, for his contributions to society.

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