Rajan Nanda: End of an era

Nanda was among the rare businessmen who have seen their fortunes flourish, dwindle and then recover

Published: Aug 6, 2018

Rajan is survived by his wife Ritu Nanda and their two children Nikhil and Natasha. The daughter of

Image by : Raajessh Kashyap/Hindustan Times via Getty Images

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Rajan is survived by his wife Ritu Nanda and their two children Nikhil and Natasha. The daughter of legendary film maker Raj Kapoor, Ritu is a prominent insurance advisor.

Rajan Nanda and his son, Nikhil Nanda share a particularly close relationship. Nikhil became t

Image by : Madhu Kapparath

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Rajan Nanda and his son, Nikhil Nanda share a particularly close relationship. Nikhil became the managing director of Escorts in 2013, bringing in a markedly different style to the Escorts culture, with his willingness to empower a new breed of professional managers.

Over the past few years, the Escorts group has been trying to stage a comeback in the Indian tractor

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Over the past few years, the Escorts group has been trying to stage a comeback in the Indian tractor industry. Once the country's largest tractor maker, Escorts is a pale shadow of itself today, with competitors holding considerable sway in the tractor market. The company underwent massive transformation between 2002 and 2007 when it sold many of its business including telecom and hospitals.

Rajan and Nikhil Nanda with Escorts's leadership team. Last year, the company introduced India&#

Image by : Madhu Kapparath

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Rajan and Nikhil Nanda with Escorts's leadership team. Last year, the company introduced India's first electric tractor, and has firmed up plans to evolve into a holistic agri-solutions company, with offerings such as Tracxi (an Uber for tractors) and crop solutions for farmers. "A farmer has now reached the stage where he can dictate terms and not the politician. He is now making enough money through his agriculture," Nanda told Forbes India in March this year.

Nanda with Shailendra Agrawal (seen, extreme right), the chief operating officer and head of researc

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Nanda with Shailendra Agrawal (seen, extreme right), the chief operating officer and head of research and development (R&D) at Escorts, who has been instrumental in introducing new tractor models. Today, Escorts's business spreads across three arms, agri-machinery, railway equipment and construction equipment. The agri-machinery arm contributes 80 percent of the group's revenue of over Rs 5,000 crore and Nanda had reckoned to Forbes India earlier this year that the group's "hands are full" at the moment to venture into new areas.

Rajan Nanda joined Escorts in 1965 at the age of 23, before assuming the charge as chairman and mana

Image by : Madhu Kapparath

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Rajan Nanda joined Escorts in 1965 at the age of 23, before assuming the charge as chairman and managing director in 1993. He oversaw a tumultuous period in the group's history, only to have it rebound much later. "I’d like to say that we’ve not only made money, we’ve earned respect as a company,"Nanda said in his interview to Forbes India.

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