"Y.C. Deveshwar made a strong contribution to Indian industry. His efforts helped ITC become a professionally-run Indian company with a global footprint. Saddened by his demise. My thoughts are with his family, friends and the ITC group in this hour of grief," Modi said in a tweet.
Deveshwar, 72, and was ITC's longest serving corporate head.
The cause of his death is not known. He was diagnosed with cancer a few years ago.
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