An Alumni of St. Xavier’s College, Calcutta, having professional degrees in Chartered Accountancy, Cost Accountancy, and Law, Pawan Kumar Ruia, chairman of Ruia Group is often referred as ‘takeover and turnaround tycoon’. Ruia Group, involved in infrastructure, engineering, tyre, rubber products, sugar, and electronics.
Ruia credits his father for all the capabilities and success he is blessed with. He remembers his childhood in Pipri where his father used to work in the industry. “Companies and businesses do not fail. Managements fail. I had grown up within the factory precincts in Pipri to cherish how the workers relate to and stake their all for the companies with which they tie their knots. I grew up believing that the dedications of the people, like the companies they create, are lifelong, even eternal. And I have always felt that it is my sacred duty to tilt the balance in the favour of life, industry and the struggle of the workers by identifying, isolating and administering the right dose to cure the ailments afflicting the entities,” he says.
The acquisitions of ailing entities not only led to the growth of the Ruia Group but also positively affected already downtrodden economy of the state of West Bengal at large. Pawan Kumar Ruia decided to invest in West Bengal when no industrialist was not only unwilling to invest, but also were reluctant to venture in the state. The acquisition of Jessop by Ruia Group had a major role in attracting other industrialists to the state including the Tatas and Jindals. Pawan Kumar Ruia’s contribution to the economy of West Bengal is well acknowledged by the people of the state.
Pawan Kumar Ruia believes in strong ties to the company and the people who work with it. He believes that an entrepreneur should have a long-term view as temporary setbacks do not deter those who want to succeed.