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PM, other political and business leaders pay tributes to ITC's Deveshwar

Press Trust of India  |  New Delhi 

Saturday condoled the death of business tycoon and Y C Deveshwar, saying he made a strong contribution to the Indian industry.

Deveshwar, 72, who passed away at a private hospital in Gurugram near here this morning after a brief illness.

"Shri 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 group in this hour of grief," the said in a tweet.

Condolence messages also poured in from other political and business leaders.

tweeted: "Saddened by the death of Yogi C Deveshwar, ITC. Yogi excelled as a corporate professional and an and took his company to great heights. May God render peace to the departed soul & give to his family strength to bear this loss."

described him as a "giant in the corporate world".

"Saddened at the passing away of Y C Deveshwar Ji. He was a giant in the corporate world. I have many memories of him as a of industry. Condolences to his family, his colleagues and his admirers," Banerjee said in a tweet.

In a statement, the (CII) expressed its condolences at the demise of Deveshwar, terming it a great loss for the Indian industry. Deveshwar was the of CII in 2005-06.

"A titan and guiding luminary of Indian industry, Mr Deveshwar's commitment and passion for sustainable business was an inspiration for all. Mr Deveshwar's devotion to inclusive growth in was laudable and he led by example," CII said.

As ITC Chairman, Deveshwar transformed the cigarette into a with interests in FMCG, hospitality, IT and other sectors.

In a tweet, B K said he was a "of Inc who immensely contributed to the industry and society".

of RP-Sanjiv Group, Sanjeev Goenka, said, "Yogi was a and a visionary. I have lost a friend. I am deeply saddened."

Chairman said Deveshwar was an extraordinary professional, who steered the company in "troubled times and diversified it from tobacco to and hospitality. He has been a family friend for two generations."

Keventer Agro CMD credited Deveshwar for putting Kolkata on the global business map.

Srei Infrastructure Finance CMD said, "He built a great company like ITC and diversified it into so many areas, all with sustainable long-term business and social models."

Chairman of Enterprises Harsh said: "A titan, a friend, #YogiDeveshwar passes away making the Indian corporate world poorer"

Kiran Mazumdar Shaw, of Biocon, also condoled the veteran's demise and said she was deeply saddened by the

Yogi Deveshwar was a business icon who will be remembered for Transforming ITC into a diversified behemoth with path breaking innovation in Agritech n other sectors, she said in a tweet.

Deveshwar (72), who stepped down from executive role as in 2017 but remained as a non-executive chairman, breathed his last at a private hospital in Gurugram.

He joined ITC in 1968 and was appointed as a on ITC's board on April 11, 1984. He rose to become its on January 1, 1996.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sat, May 11 2019. 20:11 IST