NEW DELHI: India’s 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.
Prime Minister Narendra Modi, in a tweet, wrote: “Shri YC 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.”
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.
As ITC chairman, Deveshwar transformed the cigarette major into a diversified player with interests in FMCG, hospitality, IT and other sectors.