Get All Access for $5/mo

Three Things to Know About Escorts Group Chairman Rajan Nanda The veteran entrepreneur passed away at 76 earlier this week

By Vanita D'souza

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Escorts

Businesses are built and destroyed with time but its an entrepreneur vision to see and conquer the right opportunities and once such man to be celebrated its - Rajan Nanda

After a brief illness, Escorts Group Chairman Rajan Nanda passed away at 76 earlier this week. The second generation entrepreneur is survived by his wife Ritu Nanda along with two children - Nikhil Nanda and Natasha Nanda – and their respective families.

The company presently is one of the leading manufacturers of tractors along with agri-machinery, construction, material handling equipment and railway equipment.

As the world bids adieu to Nanda, Entrepreneur India's glances through the various aspects of the veteran entrepreneur's life:

The Chairmanship

At the age of 23, in 1965, Nanda joined the company to assist his father and the founder of H P Nanda.

In the year, 1995, when his father stepped down after a 50-year long period serving as the founder-chairman, Nanda took over the chairmanship.

Escort's company website describes him as a visionary and astute leader who has navigated the group in times of unprecedented challenges in the domestic economy.

"His focus is on strengthening Escorts foundation by leveraging inherent design and development capabilities, instituting lean manufacturing practices, and better use of assets to move up the value chain," it added.

The Highlights

Under his leadership, in 2010, Escort became the first Indian company to indigenously design Backhoe Loaders, while in 2011 it launched the country's first inverter tractor FT45.

Meanwhile, in 2015, Escort's released Anti-Lift Tractor – India's first lift-resistant tractors for commercial haulage operations.

Additionally, in the same year, the company also partnered with Cognizant to digitally transform business operation with the aim to upgrade its customer experience.

The Bollywood Connection

While most of us are aware the Amitabh Bachchan's Daughter Shweta Bachchan is married to Nanda's Son Nikhil, very few know about his Kapoor-family connection.

Nanda's wife – Ritu is the daughter of Veteran Superstar and Director Raj Kapoor and granddaughter of Prithviraj Kapoor

What Next?

As it's 2022 mission, Escort is aiming at INR 10,000 revenue with 13-14 per cent EBITA. In 2017, Escort registered INR 4167 revenue with 8 per cent EBITA.

While we say goodbye to a magnificent visionary entrepreneur, all eyes are glued at Nikhil Nanda, who is also the managing director of the group, to navigate the Escort's 2022 vision.

Meanwhile, last month, while announcing the company's quarter result, Junior Nanda said, "Escorts has seen a positive momentum in the first quarter of this fiscal with a strong performance in June reflecting both farm optimism as well as a warm reception for Escorts products with innovative technologies. We are in a continuous process of developing solutions that are intelligent, environmentally safer and providing better value to our customers."

Vanita D'souza

Former Senior Correspondent, Entrepreneur India

I am a Mumbai-based journalist and have worked with media companies like The Dollar Business Magazine, Business Standard, etc.While on the other side, I am an avid reader who is a travel freak and has accepted foodism as my religion.

News and Trends

99labels Co-Founder Ishita Swarup Passes Away

Just two years into the business, it raised INR 16 crore from Info Edge and Bikhchandani, but it didn't go well

News and Trends

Reimagining HR: How AI is Leading to Workplace Prosperity

It's proven that the HRTech landscape has traditionally been characterized by tedious and manual processes prone to mistakes, fatigue, and biases. Recruitment, in particular, is a high-stakes area where errors can be extremely costly. These startups are working towards making it efficient

Technology

India Needs Homegrown Product Companies In Semiconductor: Cadence Design's India MD

Most multinationals retain product ownership, key value and intellectual property at their headquarters. As a result, India, despite having a vast pool of design talent, lacks significant Indian product companies in the semiconductor industry, says Jaswinder Ahuja, MD, India Cadence Design Systems.

Business News

How to Be a Billionaire By 25, According to a College Dropout Turned CEO Worth $1.6 Billion

Austin Russell became the world's youngest self-made billionaire in 2020 at age 25.

Growing a Business

3 Branding Strategies That Will Make Any Brand Stand Out

Here's how to differentiate your brand in three essential steps — understanding your unique selling proposition, leveraging storytelling, and valuing feedback.