Hamara Bajaj

Last month, India grieved when Rahul Bajaj (1938-2022) left for his heavenly abode. He was no ordinary man. For years, he was the public face of the Bajaj group - a multi-billion dollar Indian business conglomerate.

Foundation stone of the Bajaj family business was laid in 1926 when Jamnalal Kaniram Bajaj, ventured into the cotton ginning business. After his demise in 1942, his two sons ran the show for the next 4 decades and made the business stronger, richer by diversifying into steels mills and automobile manufacturing - specifically, scooters.

Harvard Business School graduate (1964) Rahul Bajaj, Jamnalal's grandson, steered the business during India's economic liberalization in the early 1990s. Under his leadership, the two-stroke, three-gear Chetak scooter (design inspired by Vespa Sprint from Piaggio, Italy) became a truly make-in-India brand. The family vehicle provided mobility to the masses at a low maintenance cost and forged an emotional connection with the buyers. It ruled the Indian two-wheeler market for nearly two decades and grew into a cult brand that brings back gushing nostalgic memories to generations of Indians even today. At one point in time, the vehicle had a waiting time of unbelievable 10 years! The Hamara Bajaj (Our Bajaj), ad campaign created by Lowe India successfully combined consumerism with patriotism.

Even though Bajaj Auto enjoyed the world's largest scooter maker status for some time, the party came to end as the year 2000 approached. Scooter sales downed and sturdy motorcycle sales picked up as consumer preference shifted. The younger generation of Indians was hooked to Honda, Yamaha, and Suzuki motorcycles due to the perceived 'masculine appeal' (many believed this trend started when Tom Cruise in the movie Top Gun rode a bike and made the product macho). Bajaj Auto was not prepared for this scooter-to-bike shift and struggled initially; however, the company reinvented itself just in the nick of time - with Bajaj Pulsar - its motorcycle brand. Once again, the motorcycle brand went on to become a huge success.

Under Rahul Bajaj's leadership, the group transformed the Indian two-wheeler industry. The small auto company became not only an auto giant but also a business conglomerate of 40 companies with business interests in financial services and electrical appliances. In 2021, Mr. Bajaj was ranked 421 on Forbe's list with a net worth of 421 $6.3 billion. India recognized Rahul's contribution by honoring him with Padma Bhushan (2001), by making him a member of the Rajya Sabha (2006-2010), and the president of the Confederation of Indian Industry (1979-1980; 1999-2000).

In 2019, Bajaj Auto reintroduced the Chetak brand in its electric green avatar. What will happen to the old Chetak model? Will it fade into our collective memory or Bajaj Auto think of positioning it as an antique vehicle like Harley Davidson?

Image courtesy: https://www.flickr.com/photos/ravages/2489636585/in/photostream/ (Under Creative Common License)