RCB’s Pravinchandra Gandhi Award for Excellence in Public Life awardee Mr. Niraj Bajaj, Chairman of Bajaj Auto, in conversation with Ms. Devna Vora Gandh
Ms. Devna Vora Gandhi: Welcome, everyone. It is such an honour to be here today. I’m seeing so many people after so many years — many of whom I relentlessly chased during my days at NDTV, including Mr. Bajaj — who were all so kind to me. This is truly an honour. Congratulations on winning this award. What does it mean to you?
Mr. Niraj Bajaj: This is, of course, a great honour. I’m delighted to see so many familiar faces here. I’m coming to Rotary for the first time, and I’m very happy to meet so many people. Rotary does such great work all over the world.
I also had the privilege of knowing Pravin Bhai a little. He was truly a giant of a man — a Padma Bhushan awardee, Chairman of Dena Bank, and Chairman of several newspapers. His contribution of 60 years to the IMC was tremendous. What people may not know is that it was his vision which created the IMC Ramkrishna Bajaj National Quality Award. The total credit goes to him, and today I believe it has become possibly the most prestigious National Quality Award in the country. It was all thanks to him. And of course, now Ram Gandhi is doing a great job at the IMC. So, thank you very much.
We have to dial back to what makes you tick. So much has been said about your sporting achievements, so let’s start there. You’re possibly the only industrialist of your stature who is also an Arjuna Awardee — the highest recognition in Indian sport — for table tennis. How did that journey begin for you? And is it true that you didn’t have a coach for most of your career?
Yes. I don’t know from where you get all your information, but given your past expertise, I’m not surprised! We were always a joint family — my parents, my brothers, and I — and we had a table tennis table at home. Rahul Bhai was the eldest, I was the youngest, and there were brothers in between. They used to play table tennis, and when I was seven years old, I was desperate to play, but nobody would play with me. Elder brothers are usually bullies, so they never played with me.
Sometimes, if I did errands for them, they’d agree to play. If an errand took ten minutes, they’d play for ten minutes. It was hard-earned play, and when a child is deprived of something, he wants it even more. For example, Shekhar Bhai used to love having a head massage. So I had to give him a head massage for ten minutes, and then he’d play with me for ten minutes. And you can see the result — what’s happened to his hair now! That’s a little revenge.
My father used to feel very bad that nobody would play with me, so he got me a coach, Bomi Amalsadvala — a very good coach. He trained me for about a year and a half. Then something very silly happened. My brothers and parents had gone on holiday to East Africa, while I stayed back to play table tennis. Bomi told me to write a letter to them, but I delayed it by two days. He was a very strict coach and said, “I don’t want to talk to you anymore.” I was nine years old and heartbroken.
When my father came back from East Africa and heard the story, he was very upset. He said he would call Bomi and ask how he could treat a nine-year-old like that over a delayed letter. But I told my father not to speak to him. I didn’t want him to take a favour from anyone — to plead on my behalf. I told him, “I’ll go back to him the day he knows I don’t need him anymore.”
And that’s exactly what happened. For ten years, I didn’t have a coach. It was all about thinking, learning, talking to people, watching, and figuring things out from within. Nobody in the family was particularly interested in sports, so it was just me and my determination. People can’t believe how I managed to play world-class table tennis without a coach for ten years.
When I reached my peak — I was captain of the team, an Arjuna Awardee, and part of the ping-pong diplomacy trip to China (the first Indian entry into China after the war, in 1973) — they gave us friendship towels. I came back and sent him one. Both of us cried. I said, “How could you treat a nine-year-old like that?” But that’s how it was. So yes, for ten years I had no coach — but God is great.
Amazing. And how different parenting was in those days! Today, parents, grandparents, kakas, kakis, everyone would line up to plead with that coach. But you took that call yourself, and your father allowed you to take it.
And he respected that, which I think was really great of him.
You’ve had incredible moments over your career, but I want to ask you about the match with the reigning world champion at that time, which you came very close to winning.
Yes, that was against the reigning world champion, Xi Enting — you can still Google him. This was in China, in front of a crowd of 30,000 people, mostly Chinese, in pin-drop silence. No Indian has ever beaten a reigning world champion till today. There were 22 tables, and I still remember — 21 tables stopped playing. They couldn’t believe that a reigning world champion could be losing to an Indian player. I led 20-17 in the decider — it was a 21-point game — and had three match points. And the fact is, I lost. It would have been the greatest moment in the history of Indian table tennis. You can imagine the heartbreak and disappointment. But then you have to get up and play again the next day. It was such a great learning experience for me — it taught me never to give up. You can recover from any setback. That lesson has stayed with me throughout my life — personally and professionally. Sports has given me that strength.
So on that note, what lessons do you think sport has taught you about life, business, integrity, and hard work?
Sports teaches you a lot. You don’t have to be a champion for that — just playing sports makes you a better human being. When you play, you don’t differentiate — everybody is equal. There’s no rich or poor, no caste or creed. We’re all players, all equals. That was a great lesson for me throughout my life: treat people with dignity no matter your position or privilege.
The second lesson is about focus. My first All India Championship was the biggest moment for any sportsman. I was 17, unseeded, and I beat the 16th seed, the 8th seed, the 4th seed, and the top seed to reach the finals. From the other side, too, my opponent was unseeded. And I lost to him. I was frustrated — how could I beat all those top players and then lose to an unseeded one? He was a defensive player, and I couldn’t handle his style.
For the next two months during the off-season, every morning at 6:30, I practised for nearly two hours with a defensive player, just to master those shots. I felt so upset about that loss that I wanted to make sure it never happened again. And it worked. For the next five years, until I retired, I never lost to a single defensive player in the world. That taught me the value of deep focus — of going all in on an issue with determination. That lesson has helped me throughout my life.
One more quick lesson: when we do well, we often think it’s all our doing. But when things go wrong, we tend to blame others. The truth is, good things happen because of many factors — luck, fate, blessings of elders, and the contribution of hundreds or thousands of people. It’s never just us.
I remember the first time I became All India Champion — the greatest moment for any sportsperson. I was playing against Dilip Raj Saxena. We had played seven times before, and he had beaten me all seven times. Clearly, he was the better player. In the finals, he won the first game easily. In the second game, I was down 19-15 in a game of 21. I had mentally given up. But somehow, I won the next six points. I don’t even know how. I won that game, and suddenly, from near defeat, I had a chance to become All India Champion. I gave everything I had in the next two games and won. Those next few years were fantastic for me.
As for Dilip Raj Saxena — he was just 30 seconds or a minute away from becoming India’s No. 1 player. That loss broke him. He couldn’t recover and stopped winning. Within a year, he gave up and moved to America. It was heartbreaking to see.
So the lesson is — there’s something beyond us, something higher. Mistakes are ours, yes, but when good things happen, they happen because of blessings, grace, and fate — and the love and goodwill of people like all of you.
I think one of the reasons for the existence of OGQ (Olympic Gold Quest), and your role in it, is to encourage athletes to look beyond just the physical aspects but also to focus on mental health — to help them deal with losses and stress in a competitive environment. But moving on, you grew up in a house full of achievers, visionaries, egos, different ages, and personalities. What was that upbringing like, and how did it shape you?
Everything you said is right, except the ego part. Believe me, the elders were incredibly humble. It was a time of simple living and high thinking, with great discipline. I had a very happy childhood. I was surrounded by good people and role models, and living in a joint family was a blessing. There was so much to learn every day — not through lectures, but by example. You observed how they lived and thought. My uncle and father had grown up in the ashram in Wardha, and their thinking reflected that. I was truly very lucky to be born into this family.
And I think it also instilled in you a deep sense of patriotism. The Bajaj Group, in fact, completes 99 years this year. The combined market capitalisation of the Group’s entities is now almost ₹15 lakh crore — over $167 billion. For the most part, this is still a joint family, with you overseeing the group’s investments. What do you think has contributed to this success — not just as separate companies, but as a united family? What holds you together?
It’s how we were brought up. We were always taught that united we stand and divided we fall. It was just natural for us to think that way. God has given us everything, but what’s the point of all the wealth in the world if you don’t have your family to share it with? So for us, being together as a family has always been the most important thing. None of us is perfect, but we see the good in one another, we learn from each other, and we stay united.
The market cap, ₹15 lakh crore and all, is fine — but the Group never chased market value or financial rankings. What matters more is being together, being happy, doing good for others. Those are the values we grew up with.
That’s remarkable, especially across generations. For that spirit to continue through the second, third, and even fourth generations is truly an incredible achievement for the family. But Rahul Bajaj used to be the force that held the group together, and he entrusted you to take charge after him. That must have been a difficult conversation. How did you get everyone to agree on succession and other arrangements? Did you have to bring in outside consultants? How does it work for a group this large, especially after such a towering figure steps away?
First, let me correct you — I am not the head of the family. After Rahul Bhai, we created something called the Family Council. We meet regularly, and everything — business, personal matters, everything — is discussed openly. It works beautifully.
Let me say this — Rahul Bhai was the greatest person I’ve met in my life. He had immense trust in me and in other family members as well. I learnt so much from him — perhaps a thousand conversations’ worth of wisdom. He used to joke in board meetings that one day everyone would wake up and find that all the money had gone into my account because I held the unlimited power of attorney for everyone in the family! That was the kind of trust and bond we shared.
I still remember telling him once that I felt uncomfortable having this unlimited authority, so I sent him a limited power of attorney instead. He returned it, having changed it back to unlimited. That was his greatness and trust.
Regarding succession, I think it was around 2016 or 2017, none of us were getting younger, and there were many important matters to address — control of the Group, personal wealth, taxation, succession planning, and several other things. I listed about fifteen such issues and told Rahul Bhai that we needed to sort them out.
As one of my responsibilities was managing the family office, I was worried about how complex it would be. So I requested Rahul Bhai that we, the family members, should first discuss everything amongst ourselves. And if any differences arose, we would come to him — because whatever he decided would be final. We wanted to settle everything while he was around.
That’s what we did. I must have spent 700 to 800 hours on this over a year or so. The beauty of it — and this speaks volumes about the grace of our family — is that not once did we have to go back to Rahul Bhai with any disagreement. We discussed everything peacefully and signed the family settlement agreement in 2018. It clarified how we would function as a joint family.
Rahul Bhai was truly remarkable. I could keep talking about him, but I’ll stop here.
There was a funny article last year in The Hindustan Times that stuck with me. It said, “Niraj Bajaj steps out in a ₹5,000 T-shirt to vote, while his family’s net worth is over $20 billion.” You and your wife, Mrs. Minal Bajaj, have always kept a low profile. In fact, she is deeply committed to philanthropy through the Jamnalal Bajaj Foundation. But you both stay quietly behind the scenes. Is that a conscious decision you’ve made?
Yes, we definitely prefer to keep a low profile. We don’t need publicity for ourselves. For the Group, yes — that’s fine, but personally, no. Let me first tell you, Minal does such outstanding work, and she does it very quietly — no big talk, no show-off. The kind of work she does for others, to help the poorest of the poor, is remarkable. God has been very kind to the family — resources are there, the trusts are there, everything is in place. But first, let me correct you about that ₹5,000 shirt — I read that too! It’s actually one of my best shirts, and I’m very proud of it. We had such a good laugh over that article.
You handle investments for the Bajaj Group, are involved with Mukand Ltd., have co-founded or are a partner at UTT (Ultimate Table Tennis), play an integral role at OGQ, not to mention being a proud father and grandfather — and you’re looking incredibly fit, I must say. How do you split your day and your priorities? I also have one final question after that.
My wife and kids often make fun of me. They say, “You should be retiring now!” But I can tell you, I’ve never worked so hard in my life — and I’ve never enjoyed it so much either. Yes, I struggle for time because there are so many roles and responsibilities, but that’s the beauty of it. The best moments of my day, however, are when I spend time with my four-year-old grandson, Aryan. He’s such a joy, such a pleasure. Every morning he comes and jumps on me — that’s how I wake up. Life is beautiful, that’s all I can say.
That’s lovely. Lastly, many grandparents play such a big role in our lives. My children, for instance, have been visiting my mother-in-law every Saturday since they were six months old. In a world where money often seems to define relationships and priorities, and materialism is at its peak, what values do you think are integral today — especially given that you’ve been recognised for excellence in public life?
Of course, the usual values — hard work, honesty, sincerity, integrity — are essential, and all of us try to follow them. But beyond that, the real joy lies in doing good for others. If you’re in a position to help, you must. I remember my father — when we were growing up, we’d often see him hesitate to spend even ₹100 on himself. He would genuinely feel guilty and ask, “Can I avoid this and give it to someone in need instead?” That’s the kind of upbringing we had — the joy of giving, of helping others.
That’s why many of us in the family spend a lot of time thinking about how we can contribute. For instance, last year, as a group, we announced that over the next five years we will spend ₹5,000 crore — about ₹1,000 crore a year — solely on skilling, because employability is such a critical issue, especially for the youth. We’ve worked out the details, and we are determined to succeed. The goal is to positively impact the lives of two crore youngsters. That’s what gives us joy. These are the real perks, if I may say so, of being born into such a family.
Thank you so much, Mr. Bajaj, and congratulations once again on winning the Pravinchandra Gandhi Award for Excellence in Public Life.
Thank you so much.
ROTARIANS ASK
Given that you are a leading Indian business group, and we all see you as Hamara Bajaj, and one of the biggest proponents of 100% Make in India — considering where China stands today in manufacturing, where do you see India progressing on that scale?
I think, whether we like it or not, China is very far ahead of us, and we really have to do much more. Each one of us can make a contribution — it’s not just the government’s job; it’s a partnership across all levels. We’ve progressed a lot as a country and have done very well, but China’s growth over the last 15-20 years has been extraordinary. They’ve become the manufacturing capital of the world. We have much to learn from them, and we must ultimately aim to become self-sufficient.
The world is changing rapidly — every country today is acting in its own interest. Globalisation, as we once knew it, is gone. So, India has to ensure that we are not dependent on any other country. We can’t trust or rely on others anymore. We must do better, work harder, and strengthen ourselves from within.
As a group, given the changing global dynamics and the US stance towards India, does that influence your strategy over the next few years?
Not really. Bajaj Auto exports about 50% of its production to 108 countries, and America is one of them. Challenges like these are part of global business. For instance, the issue with rare earth magnets — essential for our EVs — China is currently restricting their movement. Such challenges will always exist, and we have to face them. Everyone in this room faces obstacles in their own ways, and we just have to fight through them and keep going.
First of all, hats off for all your achievements across fields. You mentioned your love for sports earlier, and I could sense your passion when you spoke. I have to ask — was the Chinese player you lost to using a penholder grip or a shake-hand grip?
(laughs) He actually used the shake-hand grip. Normally, Chinese players use the penholder grip, but Xi Enting, the reigning world champion in 1973, used the shake-hand style. Traditionally, Chinese and Japanese players preferred the penholder grip, but we Indians and Europeans mostly played the shake-hand grip. Over time, the shake-hand grip has proven to be more effective and easier to play with. Still, at that time, seeing world champions using the penholder grip made me wonder if that style was superior.
As an entrepreneur, how much do you believe in work-life balance for your team members? And beyond commercial benefits and bonuses, what do you think truly creates a culture of happiness and balance in your organisation?
First of all, as a family, we’ve always believed that we shouldn’t be workaholics. We’re not running a race. Work-life balance starts with us, and all of us try to maintain it — some more successfully than others.
Across our Group companies, we have over 100,000 employees, not counting agents and partners. We want them to live balanced lives as well. Being a workaholic doesn’t improve results; in fact, it can harm productivity. Their health and mental well-being are very important to us. We don’t see them merely as employees — they’re partners, part of the larger Bajaj family. Their happiness, welfare, and that of their families, matter greatly to us.
Of course, we have to balance that with being competitive globally. We must strive to be world-class in whatever we do — whether we succeed or fail, that’s always the effort. We don’t enter a business just for the sake of it; we ask ourselves how we can create something the country can be proud of.
I fondly remember watching you play at the YMCA when I was young — you on Table No. 1 and me on Table No. 3. Whenever you played, I stopped to watch, as did everyone else! Given how other sports like badminton and cricket have advanced, do you think table tennis has stagnated, or do you see India emerging as a global force again?
I think table tennis in India is moving in the right direction. We’re progressing well. In fact, if I may say so, the queen of table tennis in India — who’s done so much to promote the sport — is sitting right here, Vita Dani.
But you don’t create world champions overnight. It’s a long and difficult process. For example, in the last Paralympics, under OGQ, India won 29 medals — 25 of them by OGQ-supported athletes. In the regular Olympics, India won seven medals, four of which were also supported by OGQ, and six athletes came in fourth place. So yes, progress is being made, but it takes time, effort, and patience.
In table tennis, the Chinese are still a dominant force, but we are getting closer. We now have more Indian players ranked in the world’s top 100 — both men and women — than ever before. So we’re definitely on the right track.