Mumbai, March 28 Industrialist Vijaypat Singhania, who died in Mumbai at the age of 87 on Saturday, held a unique position in the world of corporate leaders.
His leadership of Raymond since 1980 as chairman and managing director, over a decade before the 1991 economic liberalization, marked the arrival of the Indian consumer, ensuring that the textile brand could withstand pressures unlike many established brands.
Singhania, a passionate adventurer and aviation enthusiast, was a rare corporate leader who took bold risks beyond the boardroom.
His achievements in both business and adventure earned him accolades, including India's third highest civilian honour, the Padma Bhushan, as well as the Tenzing Norgay National Adventure Award.
In November 2005, the then-67-year-old Singhania set a world record by reaching an altitude of approximately 69,000 feet in a hot air balloon. Before that, in 1988, he set a speed-over-time endurance record for microlight aircraft by flying solo from London to New Delhi over 23 days.
In 1994, the Indian Air Force awarded him the honorary rank of Air Commodore in recognition of his over 5,000 hours of flying. In 2006, he was appointed the Sheriff of Mumbai.
On the business front, Singhania expanded Raymond into synthetic fabrics, denim, steel, industrial files, and cement, creating a diversified industrial conglomerate.
In March 2007, Dr. Singhania was appointed as the Chairman of the Governing Council of the Indian Institute of Management, Ahmedabad, a position he held until 2012.
Singhania passed the reins of the Raymond Group to his son, Gautam Singhania, in 2000, but remained active in public life. However, his public appearances had become rare in recent years.
Vijaypat and Gautam Singhania were involved in legal disputes some years back, but it was reported that they had resolved the issues.
