Rahul Bajaj a lighthouse for young entrepreneurs: Sharad Pawar

NCP chief Sharad Pawar on Saturday remembered former chairman of the Bajaj Group, Rahul Bajaj, as a philanthropist who was like a "lighthouse" for young entrepreneurs.

"I am deeply shocked to learn about the sad demise of Padma Bhushan Shri Rahul Bajaj! The grandson of eminent freedom fighter Jamnalal Bajaj brought transformation in society especially in poor and middle-class people with his two-wheel technology - a Bajaj Bike!," Pawar tweeted.

Pawar said he was grieved with the passing of his very close friend.

"India has lost an industrialist, a philanthropist and a lighthouse for young entrepreneurs! Hamara Bajaj," Pawar said.

The affordable vehicle increased mobility, eased the struggle for getting means of livelihood and became the tool of socio-economic change, he added.

"We Indians are deeply indebted for his immense contribution to the industry," he said.

Rahul Bajaj died at a hospital in Pune on Saturday afternoon. He was 83.