Political and business leaders paid heartfelt tributes to ITC Chairman Y C Deveshwar, who passed away Saturday morning after a brief illness, saying he leaves behind a rich legacy.
Finance Minister Arun Jaitley tweeted: "Saddened by the death of Yogi C Deveshwar, Chairman ITC. Yogi excelled as a corporate professional and an entrepreneur and took his company to great heights. May God render peace to the departed soul & give to his family strength to bear this loss."
West Bengal Chief Minister Mamata Banerjee 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 distinguished captain of industry. Condolences to his family, his colleagues and his admirers," Banerjee said in a tweet.
In a statement, the Confederation of Indian Industry (CII) expressed its condolences at the demise of Deveshwar, terming it a great loss for Indian industry. Deveshwar was the president 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 India was laudable and he led by example," CII President Vikram Kirloskar said.
"For me personally, Mr Deveshwar, Yogi to all, was a warm and generous leader who always found time to engage with all. We will deeply miss his erudite guidance and sage advice. Our thoughts and prayers are with his family at this time, Kirloskar said.
Ambuja Neotia Group Chairman Harsh Neotia said Deveshwar was an extraordinary professional, who steered the company in "troubled times and diversified it from tobacco to FMCG and hospitality. He has been a family friend for two generations."
Condoling his demise, Keventer Agro CMD Mayank Jalan credited Deveshwar for putting Kolkata on the global business map.
"He built a great company like ITC and diversified it into so many areas, all with sustainable long-term business and social models," said CMD of Srei Infrastructure Finance Hemant Kanoria.
Deveshwar (72), who stepped down from executive role as chairman and CEO 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 director on ITC's board on April 11, 1984. He rose to become its chief executive and chairman on January 1, 1996.
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