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A distinguished billionaire entrepreneur of India, <keyword id="33278" type="PERSON" weightage="20" keywordseo="Rahul-Bajaj">Rahul Bajaj</keyword> is also a philanthropist and Member of Parliament. Rahul Bajaj hails from the business house established by Jamnalal Bajaj and eventually became the chairman of the most prestigious Bajaj Group, an Indian conglomerate. Here are a few interesting <keyword id="8407225" type="UNKNOWN" weightage="20" keywordseo="facts-about-rahul-bajaj">facts about Rahul Bajaj</keyword> which you might not have known. Rahul Bajaj was born on 10 June 1938. Son of an Indian independence fighter Jamnalal Bajaj, his birth happened in a Marwari family. In 2001, Rahul Bajaj got the highest civilian award in the country Padma Bhushan. Rahul Bajaj spoke at length about the marketing scenario in India in an interview connected with a project entitled Creating Emerging Markets at the Harvard Business School and thoroughly criticized the industrial policies of the country before liberalization in the 1990s. Bajaj did his schooling in Cathedral and John Connon School and studied law at Government Law College, Mumbai. He is an alumnus of Harvard Business School in the US and St. Stephen's College, Delhi. Rahul Bajaj took over the Bajaj Group in 1965 and gave a wonderful leadership to the entity till 2005. Following him, his son Rajiv became the managing director of the Group. He became the CEO of Bajaj Auto in 1968 when he was just 30 years. Rahul Babaj got elected to the Upper House of the Parliament for the period between 2006 and 2010. His wealth is estimated at US$ 4.2 in the year 2019. Earlier in 2016, the Forbes magazine ranked him in the 722nd position in the list of world’s billionaires. Rahul Bajaj has three children. His sons Rajiv Bajaj and Sanjiv Bajaj are managing his establishments. His daughter Sunaina is given in marriage to Manish Kejriwal, the former chairman of Temasek India. The Pune based manufacturer has his stakes in firms including Bajaj Holdings and Investments, an investment company, and Bajaj Finserv, which is a leading insurance and consumer finance group in India. The major chunk of Rahul Bajaj’s wealth comes from the company Bajaj Group that was established in the year 1926 by his grandfather Jamnalal. He has a significant investment in Bajaj Auto, one of the largest makers of two wheelers in the world. In 2018, the company made a revenue of 247 billion rupees. Rahul Bajaj has 10% stake in Bajaj Finserv, an insurance and consumer finance provider and 24% stake in Bajaj Holdings &amp; Investment, the holding company, which fall under the Bajaj Group. His other holdings are 2% stake in Bajaj Finance, 14% stake in Bajaj Electrical, a home appliance maker and 19% stake in Mukand, manufacturer of wire rods, alloy castings and steel bars. Pointing out that business was in his blood, Rahul Bajaj once said in an interview at the Harvard Business School, “Given my family background, I knew I wanted to be a businessman by the time I was about 12”. In 2008, he split the Bajaj Auto into three units for the sake of boosting the shareholder’s returns and provided more control in the management to his sons Rajiv and Sanjiv.

Unknown Facts About padma bhushan Rahul Bajaj

<ul><li><keyword id="33278" type="PERSON" weightage="20" keywordseo="Rahul-Bajaj">Rahul Bajaj</keyword> said Indian businesses are worried about repercussions if they criticise Prime Minister Narendra Modi’s administration. </li><li>Former Prime Minister <keyword id="6359397" type="PERSON" weightage="20" keywordseo="manmohan-singh">Manmohan Singh</keyword> also said there’s a climate of fear and mistrust among various economic participants including industrialists, bankers and policymakers. </li><li>Vodafone Chief Executive Nick Read landed himself with two lawsuits after he hinted at possible collapse in India operation. </li></ul>Industrialist and Bajaj Group chairperson Rahul Bajaj is making waves for his remarks on the Modi government. The 81-year old said Indian businesses are worried about repercussions if they criticise Prime Minister Narendra Modi’s administration. “None of our industrial friends will speak about it, but I’ll say that openly, You’re (Narendra Modi led government) doing a good job, but despite that, we’re not confident you’ll appreciate if we openly criticise you,” said Bajaj. Bajaj alleged that government is creating an environment of fear where people are not allowed to question it The comment comes at a time when the health of India’s economic growth is worse than expected. Its GDP for the second quarter fell to 4.5%. Moreso, unemployment is rising, and the banking sector is in crisis mode. Bajaj earlier too said that times are difficult time for auto sector without neither demand nor investment. In November 2019, his <keyword id="6359783" type="COMPANY" weightage="20" keywordseo="bajaj-auto">Bajaj Auto</keyword> saw a 12% decline in sales,<a href="https://www.google.com/search?q=bajaj+auto+november+2019+sales&amp;rlz=1C1GCEU_enIN864IN864&amp;oq=Bajaj+Auto+november&amp;aqs=chrome.1.69i57j0l4.4855j0j7&amp;sourceid=chrome&amp;ie=UTF-8"> according to ET Auto. </a> Bajaj is among the handful of people who spoke against the government publicly. Former Prime Minister Manmohan Singh <a href="https://www.thehindu.com/business/Economy/45-gdp-growth-rate-unacceptable-worrisome-manmohan-singh/article30117648.ece">too said there’s a climate of fear and mistrust among various economic participants</a> — industrialists, bankers and policymakers. Here are a few others who dared to bell the cat Vodafone Chief Executive Nick Read landed himself with two lawsuits 
 
 
 
 
 
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 Vodafone chief executive Nick Read landed himself with two lawsuits. In November 2019, Vodafone CEO hinted to reporters in London about a possible collapse of its Indian operation if the government does not give relief to the massive deferred spectrum dues amounting<a href="https://www.businessinsider.in/business/corporates/news/vodafone-idea-posts-a-historic-50000-crore-loss-over-agr-dues/articleshow/72064458.cms"> to ₹44,150 crore. </a>As soon as the press conference was over, two lawsuits were filed against him, <a href="https://www.scmp.com/week-asia/economics/article/3038987/tax-terrorism-indias-slowing-economy-takes-deadly-turn-modis">reported South China Morning Post</a>. Union Telecom and Communications Minister Ravi Shankar Prasad is known to have “expressed disapproval and displeasure over the tone and tenor” of the comments to <keyword id="6354955" type="PERSON" weightage="20" keywordseo="Kumar-Mangalam-Birla">Kumar Mangalam Birla</keyword>, Vodafone’s JV partner. A day later, Read<a href="https://economictimes.indiatimes.com/industry/telecom/telecom-news/government-unhappy-over-vodafones-biz-uncertainty-remarks-ceo-says-media-distorted-statement/articleshow/72045518.cms?from=mdr"> apologised</a> to the Indian government and blamed the media coverage for distorting his remarks. He further asserted that Vodafone will “<a href="https://economictimes.indiatimes.com/industry/telecom/telecom-news/government-unhappy-over-vodafones-biz-uncertainty-remarks-ceo-says-media-distorted-statement/articleshow/72045518.cms?from=mdr">remain invested” in India.</a> Kumar Mangalam Birla criticised the UPA government 
 
 
 
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 Not just the Modi government, even the UPA was merciless when it came to dealing with dissenters. In 2012, Kumar Mangalam Birla the billionaire promoter of the $48.3 billion Aditya Birla Group, famously gave <a href="https://www.business-standard.com/article/companies/policy-paralysis-has-shaken-investors-confidence-birla-112081800054_1.html">currency to the phrase </a>'policy paralysis' which went on to describe the second five-year term of the Manmohan Singh government. What he didn't know was that soon after the sleuths at CBI would chase him after a surprise raid at a Hindalco office found Rs 5 crore unaccounted cash in its premises. This money got linked to the infamous coal allocation scam. While the firm lost its coal mine <a href="https://www.forbes.com/sites/naazneenkarmali/2013/10/15/billionaire-kumar-birla-dragged-into-indias-coalgate-scandal/#5d145b0e180a">Talbira II in Odisha</a>, Birla himself has since been acquitted in the case of the cash in one of his offices. HDFC chairman <keyword id="6448020" type="PERSON" weightage="20" keywordseo="Deepak-Parekh">Deepak Parekh</keyword> said there's no ease of doing business in India 
 
 
 
 
 
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 A year after Modi’s landslide win in 2014,<a href="https://www.hindustantimes.com/business/pm-had-9-lucky-months-impatience-creeping-in-now-deepak-parekh/story-GYM46n0eEOFUmEA44EXwMJ.html"> Parekh said Prime Minister had a lucky period in these nine months. </a> “The world commodity prices are at all-time low which help India the most. I don’t see ease of doing business changing so far,” <a href="https://www.hindustantimes.com/business/pm-had-9-lucky-months-impatience-creeping-in-now-deepak-parekh/story-GYM46n0eEOFUmEA44EXwMJ.html">he had said</a>. But he had to eat his words, and <a href="https://www.businesstoday.in/opinion/perspective/narendra-modi-govt-nine-months-deepak-parekh/story/220994.html">do a complete U-turn within five months</a>. What transpired behind the scenes is anybody's guess. India has lost confidence of the world: Ratan Tata 
 
 
 
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 In 2016, Ratan Tata the chairman emeritus of the <keyword id="6355725" type="COMPANY" weightage="20" keywordseo="tata-group">Tata Group</keyword> said <a href="https://www.thehindu.com/business/Economy/india-has-lost-confidence-of-the-world-ratan-tata/article5068063.ece">India has lost the confidence of the world </a>and the government has been slow to recognise it. He said the government has “swayed” under the influence of vested interests in the private sector and policies have been “changed, delayed and manipulated”. Tata, who demitted office as Tata group chairman last December, said that Prime Minister Manmohan Singh has held India’s “esteem high but in recent times we have lost it”. Ironically, this was the same year when BJP MP Subramanian Swamy <a href="https://www.businesstoday.in/current/economy-politics/ratan-tata-most-corrupt-chairman-in-history-of-tata-group-says-subramanian-swamy/story/239254.html">filed a complaint against Tata, lobbyist Niira Radia, former Telecom Minister A. Raja and senior Unitech officials for</a> allegedly laundering money to Unitech companies to obtain 2G spectrum licence. Kiran Mazumdar Shaw, an iconic entrepreneur in the pharmaceuticals space, was asked to shut up by a government official 
	
 
 <div type="image" title="Bengaluru: Biocon Chairperson and MD Kiran Mazumdar-Shaw addresses during a pres..." msid="72335493" hostid="261" caption="&amp;lt;p&amp;gt;Biocon Chairperson and MD Kiran Mazumdar-Shaw addresses during a press conference to announce the upcoming event &amp;#39;Bengaluru Tech Summit 2019&amp;#39;, in Bengaluru.Photo) (&amp;lt;/p&amp;gt;"></div>





 After the unfortunate <a href="https://www.businessinsider.in/Narendra-Modi-has-a-new-problem-big-corporates-and-moneybags-are-angry/articleshow/70450878.cms">death</a> of VG Siddhartha of Cafe Coffee Day, his billionaire friends from Bengaluru chimed in his support blaming aggressive tax officials for the demise of the coffee baron. However, Kiran Mazumdar Shaw, an iconic entrepreneur in the pharmaceuticals space, was asked to shut up by a government official. Shaw revealed <a href="https://www.businessinsider.in/Narendra-Modi-has-a-new-problem-big-corporates-and-moneybags-are-angry/articleshow/70450878.cms">to the Telegraph. </a> See also <a href="https://www.businessinsider.in/Narendra-Modi-has-a-new-problem-big-corporates-and-moneybags-are-angry/articleshow/70450878.cms">Narendra Modi has a new problem – big corporates and moneybags are angry</a>

From Deepak Parekh to Vodafone CEO Nick Read —  5 times corporates criticised Indian government and ran into trouble

New Delhi, Dec 2 () Finance Minister Nirmala Sitharaman has responded to industrialist Rahul Bajaj's statement that India Inc was afraid of criticising the Narendra Modi government, saying spreading one's own impression "can hurt national interest" - a remark that drew sharp reactions on social media.
At The Economic Times' ET Awards event in Mumbai on Saturday evening, Bajaj, chairman of Bajaj Group, had told Sitharaman, Home Minister Amit Shah and Railway Minister Piyush Goyal on dias that people are afraid of criticising the BJP government's policies and added that no one in the business community would speak about this issue.
Shah had responded to him saying there is "no need to fear about anything. The Narendra Modi government has been criticised continuously in media. But, if you are saying that there is such an environment, we need to work to improve this".
Bajaj found support in Biocon chairperson Kiran Mazumdar Shaw who said the government treated India Inc as "pariahs" and doesn't want to hear any criticism of the economy.
"Hope the govt reaches out to India inc for working out solutions to revive consumption n growth. So far we are all pariahs n govt does not want to hear any criticism of our economy," she tweeted on Sunday evening.
Soon after, Sitharaman tweeted a video of the ET event to say: "Home Minister @AmitShah answers on how issues raised by Shri. Rahul Bajaj were addressed. Questions/criticisms are heard and answered/addressed".
"Always a better way to seek an answer than spreading one's own impressions which, on gaining traction, can hurt national interest," she said.
Her remarks drew varied responses with the opposition Congress seizing on it to criticise the government.
Congress leader and former union minister Kapil Sibal said: "Rahul Bajaj only said: Industry fears to criticise government".
"Does national interest lie in praising you!," he tweeted.
His party spokesperson Salman Anees Soz said that "Only an insecure, incompetent, and intolerant government will stoop so low as to characterize government criticism as against the national interest".
Defending the government, Civil Aviation Minister Hardeep Singh Puri alleged there were fake narratives.
"That Mr Rahul Bajaj could stand up to Sh @AmitShah Ji's face, express himself freely &amp; instigate others to join him clearly indicate that freedom of expression &amp; democratic values are alive &amp; flourishing in India. This is exactly what democracy is all about," he tweeted.
Minister of Railways and Commerce Piyush Goyal referred to Shah's response to Bajaj's remarks to say there is no fear.
"See Home Minister @amitshah respond to Rahul Bajaj's claim that people are afraid to express themselves. "After hearing your question I doubt anybody believes this claim that people are afraid," he tweeted.
A day before the ET event, former Prime Minister Manmohan Singh had stated that many industrialists have told him they lived in fear of harassment by government authorities.
Delivering the valedictory speech at the National Economy Conclave, Singh had on Friday warned: "There is a palpable climate of fear in our society today. Many industrialists tell me they live in fear of harassment by government authorities. Bankers are reluctant to make new loans, for fear of retribution. Entrepreneurs are hesitant to put up fresh projects, for fear of failure attributed to ulterior motives. Technology start-ups that are an important new engine of economic growth and jobs, seem to live under a shadow of constant surveillance and deep suspicion". ANZ
BAL

FM on Bajaj's lack of freedom comment: Spreading one's own impression can hurt national interest

New Delhi, Jan 30 () Bajaj Auto's long serving Chairman Rahul Bajaj will step down from executive role to become a non-executive director while continuing to hold his current position, the company said on Thursday.
 Bajaj, who has been a director of the company since April 1, 1970, was last reappointed by the board for a five-year term with effect from April 1, 2015, and his term as executive chairman is expiring on March 31, 2020, the company said in a regulatory filing.
 "Due to certain commitments and other pre-occupation, Rahul Bajaj has decided not to continue as a whole-time director of the company after the expiry of his current term on March 31, 2020," it added.
 Bajaj Auto further said its board of directors in a meeting held on Thursday approved his appointment as non-executive director with the designation continuing as the chairman of the company with effect from April 1, 2020, subject to shareholders' approval. 
 Since Bajaj has already attained the age of 75, approval of shareholders will be taken by special resolution by way of postal ballot for his appointment as non-executive chairman as required under SEBI regulations, the company added.
 After taking charge of the Bajaj Group business in 1965, Rahul Bajaj led the company to its growth path. Under his stewardship Bajaj Auto, the group's flagship company, saw its turnover grow to Rs 12,000 crore from just Rs 7.2 crore with the firm's scooters becoming the mainstay.
 He steered the diversified entity during India's transition from a closed economy to a liberalised one and drove the company to expand its product portfolio with the Bajaj brand finding foothold in global markets. 
 In 2005, Rahul Bajaj started passing the baton of the company to son Rajiv Bajaj, who became the managing director of Bajaj Auto and led the company to become a truly global automobile player. 
 Rahul Bajaj, an Economics graduate from Delhi University as well as an MBA from Harvard Business School, was also a member of Rajya Sabha from 2006-2010. RKL RUJ
RUJ

Rahul Bajaj to step down from executive role, to stay as non-executive Chairman of Bajaj Auto

Forbes magazine has placed India at the fourth place in its list of countries with the highest number of billionaires, and once again <keyword id="6355199" type="CITY" weightage="20" keywordseo="Reliance-Industries">Reliance Industries</keyword> chief <keyword id="3820" type="PERSON" weightage="100" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword> has been named the richest Indian. 
 
The list, called 'World's Billionaires' 2017, has 2,043 names in it, who have a combined net worth of $7.67 trillion. In comparison to last year, this figure is up by a record 18%. 
 
Microsoft co-founder <a href="http://www.businessinsider.in/bill-gates-is-largely-optimistic-about-the-future-but-a-key-tenet-of-the-trump-administration-worries-him/articleshow/57635057.cms">Bill Gates</a> tops the list for the fourth year in a row, with a fortune of $86 billion. Last year, this figure stood at $75 billion. Berkshire Hathaway chief <a href="http://www.businessinsider.in/its-all-mental-with-him-warren-buffetts-late-wife-revealed-why-it-took-the-billionaire-so-many-years-to-start-giving-away-his-fortune/articleshow/56902258.cms">Warren Buffet</a> stands second with a new worth of $75.6 billion. 
 
The third place in the list has been grabbed by Amazon's Jeff Bezos with $72.8 billion net worth. 
 
<a href="http://www.businessinsider.in/11-billionaires-hit-hard-by-demonetisation-mukesh-ambani-still-the-richest/articleshow/57519993.cms">Mukesh Ambani</a>, with $23.2 billion, stands 33rd in the list. His younger brother <a href="http://www.businessinsider.in/anil-ambanis-reliance-capital-sells-paytm-stake-to-alibaba-for-rs-275-crore/articleshow/57513421.cms">Anil Ambani</a>, however, ranks 745th with a net worth of $2.7 billion. 
 
Also read: <a href="http://www.businessinsider.in/mukesh-ambani-knows-what-the-millennials-want-heres-how/articleshow/57390611.cms">Mukesh Ambani knows what the millennials want. Here’s how</a> 
 
Talking of countries, India homes 101 billionaires, crossing the 100 mark with for the first time, standing fourth after USA (565), China (319), and Germany (114). 
 There are only four women billionaires from India, viz. <keyword id="51618" type="PERSON" weightage="20" keywordseo="Savitri-Jindal">Savitri Jindal</keyword> and her family (303rd position), Smita Crishna-Godrej (814th), Biocon founder Kiran Mazumdar-Shaw (973) and Leena Tewari (1030). 
 Other Indians in the list are <keyword id="6419840" type="PERSON" weightage="20" keywordseo="Azim-Premji">Azim Premji</keyword> (72nd), <keyword id="111343" type="PERSON" weightage="20" keywordseo="Gautam-Adani">Gautam Adani</keyword> (250th), <keyword id="33278" type="PERSON" weightage="20" keywordseo="Rahul-Bajaj">Rahul Bajaj</keyword> (544th), Acharya Balkrishna (814th), <keyword id="6398943" type="PERSON" weightage="20" keywordseo="Rakesh-Jhunjhunwala">Rakesh Jhunjhunwala</keyword> (939th), NR Narayana Murthy (1161st), Vivek Chand Burman and <keyword id="44604" type="PERSON" weightage="20" keywordseo="Nandan-Nilekani">Nandan Nilekani</keyword> (tied at 1290th), Vijay Shekhar Sharma and Habil Khorakiwala (1567th), <keyword id="46425" type="PERSON" weightage="20" keywordseo="Anand-Mahindra">Anand Mahindra</keyword> (1567th), Niranjan and Surendra Hiranandani (tied at 1678th), and Rana Kapoor (1795th). 
 
(Image source: <keyword id="375775" type="COMPANY" weightage="20" keywordseo="Forbes-India">Forbes India</keyword>)

India ranks fourth in Forbes list of most billionaires, Mukesh Ambani richest Indian again

Former chairman of the <keyword id="101435" type="General" weightage="20" keywordseo="Bajaj-Group" source="Orion">Bajaj Group</keyword> <keyword id="33278" type="General" weightage="20" keywordseo="Rahul-Bajaj" source="Orion">Rahul Bajaj</keyword> passed away in Pune on Saturday, a company official said. He was 83. Bajaj was not keeping well for quite some time and passed away at around 1430 hrs on Saturday, the official said. His last rites will be held on Sunday. He is survived by two sons, <keyword id="45497" type="General" weightage="20" keywordseo="Rajiv-Bajaj" source="Orion">Rajiv Bajaj</keyword> and <keyword id="68683" type="General" weightage="20" keywordseo="Sanjiv-Bajaj" source="Orion">Sanjiv Bajaj</keyword>, and a daughter <keyword id="788605" type="General" weightage="20" keywordseo="sunaina-kejriwal" source="Orion">Sunaina Kejriwal</keyword>. He resigned from his position of non-executive director and chairman at Bajaj Auto on April 30 last year. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/sebi-bars-reliance-home-finance-anil-ambani-and-3-others-people-from-market-for-alleged-fraud-activities/articleshow/89520549.cms">SEBI bars Reliance Home Finance, Anil Ambani and 3 others people from market for alleged fraud activities</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sports/news/ipl-2022-auction-paused-as-auctioneer-hugh-edmeades-collapses-during-bidding/articleshow/89523643.cms">IPL 2022 auction paused as auctioneer Hugh Edmeades collapses during bidding</a>

Noted industrialist Rahul Bajaj passes away at 83

New Delhi, Dec 2 () Biocon Chairperson and Managing Director Kiran Mazumdar Shaw on Monday said India Inc is "neither anti-national nor anti-government", continuing her support for veteran industrialist Rahul Bajaj who stated that India Inc was afraid of criticising the Narendra Modi government.
 Shaw, who had earlier said the government treated India Inc as "pariahs" and doesn't want to hear any criticism of the economy, was responding to Finance Minister Nirmala Sitharman remarks that spreading one's own impression "can hurt national interest" in relation to the statement made by Bajaj on Saturday.
 "Madam we are neither anti national nor anti government. We want you to succeed big time as fastest growing economy n rise to the top of the global league of economies. I am a proud apolitical National n only want the Govt to promote good policies including at State level," Shaw tweeted.
 She was replying to a tweet by Sitharaman who shared a video of The Economic Times' ET Awards event in Mumbai on Saturday where Bajaj, chairman of Bajaj Group, had told Sitharaman, Home Minister Amit Shah and Railway Minister Piyush Goyal on dais that people were afraid of criticising the BJP government's policies and added that no one in the business community would speak about this issue.
 In the tweet, Sitharaman said, "Home Minister @AmitShah answers on how issues raised by Shri. Rahul Bajaj were addressed. Questions/criticisms are heard and answered/addressed. Always a better way to seek an answer than spreading one's own impressions which, on gaining traction, can hurt national interest."
 Supporting Bajaj, Shaw had earlier said, "Hope the govt reaches out to India Inc for working out solutions to revive consumption n growth. So far we are all pariahs n govt does not want to hear any criticism of our economy." RKL MKJ

India Inc neither anti-national nor anti-government: Kiran Mazumdar Shaw

<div class="KonaFilter image-container display-table"><div><div class="image on-image">Courtesy Elisabeth Fall/Fall FotoForesite Capital managing director Vik Bajaj</div></div></div><ul class="summary-list"><li>Vikram Bajaj, a VC and the cofounder of Google Life Sciences, <a href="https://www.businessinsider.com/verily-raises-billion-google-alphabet-ruth-porat-2019-1">now called Verily</a>, is launching an incubator for healthcare and life <keyword id="41551" type="ENTERTAINMENT" weightage="100" keywordseo="science">science</keyword> startups called Foresite Labs.</li><li>Cofounding the new venture is Jim Tananbaum, the CEO of Foresite Capital, the Silicon Valley venture firm where Bajaj serves as managing director.</li><li>Foresite Labs has a star-studded advisory board that includes executives from leading health-tech institutions like Stanford, Harvard, Johnson &amp; Johnson, and the <a href="https://www.businessinsider.com/chan-zuckerberg-research-implantable-brain-device-primates-2018-12">Chan-Zuckerberg</a> Biohub.</li><li>"The lab of the future will be one where scientists are as much behind a computer screen as a lab bench," Bajaj told Business Insider.</li><li><a href="https://www.businessinsider.com/?hprecirc-bullet">Visit Business Insider's homepage for more stories</a>.</li></ul>First, Vikram Bajaj helped create Google's sprawling life science company, now known as <a href="https://www.businessinsider.com/verily-raises-billion-google-alphabet-ruth-porat-2019-1">Verily</a>. Then he joined <a href="https://www.businessinsider.com/grail-raises-more-than-900-million-2017-3">Grail</a>, an ambitious startup spun out of biotech behemoth Illumina to build a cancer-spotting blood test.Now, as the managing director of a Silicon Valley venture capital firm called Foresite Capital, he's launching his next healthcare venture: an incubator for health and life science startups called Foresite Labs.Cofounding the initiative with Bajaj is Foresite Capital CEO Jim Tananbaum. Foresite manages more than $2 billion, and has backed several cancer and genomics biotechs like Loxo Oncology and 10X Genomics along with drug development startups like Insitro.Together, the pair aims to provide nascent companies with mentorship from top researchers and executives and access to a unique data-analytics platform. The data platform will help the companies do everything from design better drugs to learn more about why cancer cells behave the way they do. The team designed the platform to address one of healthcare's biggest problems, Bajaj said, which is that <a href="https://www.businessinsider.com/verily-google-alphabet-ceo-shares-common-theme-behind-projects-2019-1">we lack high-quality, representative data</a>.Today, most of our healthcare information comes from divergent sources. They can't be combined or used to answer any real scientific questions, he said. So Bajaj and Tananbaum created a tool that lets entrepreneurs do just that, he added.Startups promising to analyze data to help discover new medical treatments have been drawing <a href="https://www.businessinsider.com/bezos-startup-gilead-nash-liver-drugs-insitro-2019-4">big investments</a> in healthcare in recent years.<a href="https://www.businessinsider.com/bezos-startup-gilead-nash-liver-drugs-insitro-2019-4">Insitro</a>, a Jeff Bezos-backed startup, gathers data-computing experts and biologists to try to boost the speed and efficiency of traditionally tedious drug-development work. Led by Daphne Koller, the former chief computing officer of Google life-extension spinoff <a href="https://www.businessinsider.com/google-calico-ancestry-dna-genetics-aging-partnership-ended-2018-7">Calico</a>, Insitro recently <a href="https://www.businessinsider.com/bezos-startup-gilead-nash-liver-drugs-insitro-2019-4">inked a deal with $84 billion biotech Gilead</a> to develop drugs for nonalcoholic steatohepatitis (NASH).Spring Discovery, another Silicon Valley drug development startup, is taking a <a href="https://www.businessinsider.com/ben-kamens-anti-aging-spring-discovery-raises-18-million-2018-12">similar approach but focuses on aging</a>.Bajaj, an associate professor of radiology at Stanford and an affiliate scientist at the University of California, Berkeley, expects the bulk of companies who join Foresite Labs will fall into one of three main categories: drug development, healthcare delivery, and early disease detection.But getting access to Foresite Labs' new data platform won't be its biggest draw for many entrepreneurs, Bajaj told Business Insider.Instead, he thinks most will be attracted to the venture's star-studded advisory board, which includes executives from Stanford, Harvard, Johnson &amp; Johnson, and the <a href="https://www.businessinsider.com/chan-zuckerberg-research-implantable-brain-device-primates-2018-12">Chan-Zuckerberg</a> Biohub. All of them, Bajaj said, will be on-hand to provide guidance and mentorship to people who join.Bajaj declined to comment about the financial specifics of the new initiative, such as whether Foresite Labs would take any ownership in the companies it helps start or offer external entrepreneurs financial incentives for joining."An entrepreneur joining the platform will find there's no need to reinvent the wheel," Bajaj said.<h2>Healthcare's giant data problem</h2><div class="KonaFilter image-container display-table"><div><div class="image on-image">ChinaFotoPress / Getty ImagesEven imbued with the power of the most advanced data analytics tools, researchers can't currently reach any real conclusions about how a certain treatment or disease unfolds.</div></div></div>Today, the healthcare industry is awash in data.Information from a <a href="https://www.businessinsider.com/verily-google-alphabet-ceo-shares-common-theme-behind-projects-2019-1">wealth of sources</a>, from clinical trials to fitness trackers to medical apps, gives patients and providers insight into thousands of specific health-related questions.The trouble is, it's difficult to combine or probe that data in a useful way. Even with advanced data analytics tools, researchers often currently struggle to reach any real conclusions about how a certain treatment or disease unfolds. In addition, the hurdles have meant that many science and health researchers focus on rare diseases that impact a small part of the population, rather than big, societal problems like heart disease and cancer, Bajaj said.This issue was one of the reasons that Bajaj and Tananbaum were inspired to create Foresite Labs, Bajaj said."There's a lot of data that exists, but if you try to formulate any problem you want to solve, to accelerate some discovery process - whether it's in basic lab research or clinical medicine - you find the public databases are instructive but incomplete. And they suffer from biases," Bajaj said.Foresite Labs' data-analytics platform will help enable entrepreneurs to overcome some of those obstacles, he added. To create it, they took information from public databases like the UK Biobank (which anonymously tracks the health and well-being of 500,000 volunteer participants) and combined it with internal databases designed by their team. They aim to release the platform publicly at some point."Our intention is to publish it and release it as open-source code," Bajaj said.<h2>'The lab of the future will be one where scientists are as much behind a computer screen as a lab bench'</h2><div class="KonaFilter image-container display-table"><div><div class="image on-image">Courtesy Foresite LabsForesite Labs' scientific advisory board includes people like Jeff Huber, the founding CEO of Grail, a former SVP of Google, and a board member of Illumina.</div></div></div>There's another problem in healthcare that drove Bajaj to create Foresite Labs, he said.Several new ventures have started to put clinicians and computer scientists in the same room in an attempt to try and solve hard healthcare problems, such as the lack of good drugs for common diseases. Yet the individuals in each industry continue to operate in siloed environments, Bajaj said. This bars them from making any sizeable progress, in his view.Foresite Labs' answer to that problem is simple. It aims to create laboratories that combine experts from both universes under one unique company culture, Bajaj said. That will enable experts to think about new ways of approaching scientific problems and coming up with new scientific questions to ask, such as how to take very complex diseases and distill them down to elements we can understand.Helping to ensure that both industries are represented is a scientific advisory board that includes people like Jeff Huber, the founding CEO of Grail, a former SVP of Google, and former board member of Illumina; Mathai Mammen, the global head of research and development for Jannsen Pharmaceuticals and Johnson &amp; Johnson; Paola Arlotta, the chair of Harvard's department of stem cell and regenerative biology; and Euan Ashley, the director of Stanford's center for inherited cardiovascular disease and clinical genomics.Using this type of workflow, clinicians and computer scientists would work together to come up with a hypothesis, design experiments to probe it, and then repeat the cycle, tweaking various components as they go until they come up with either a solution to the original question or a new hypothesis altogether. "The lab of the future will be one where scientists are as much behind a computer screen as they are behind a lab bench," he said.<a href="/intelligence/digital-health?IR=T&amp;itm_source=businessinsider&amp;itm_medium=ctgr_bii&amp;itm_term=ctgr_subscription&amp;itm_content=health&amp;itm_campaign=digital-health-3"></a>Featured Digital Health Articles: - <a href="/telehealth-industry-explained">Telehealth Industry: Benefits, Services &amp; Examples</a> - <a href="/value-based-care-pay-for-performance-healthcare-model">Value-Based Care Model: Pay-for-Performance Healthcare</a> - <a href="/senior-care-market-trends">Senior Care &amp; Assisted Living Market Trends</a> - <a href="/wearable-technology-healthcare-medical-devices">Smart Medical Devices: Wearable Tech in Healthcare</a> - <a href="/artificial-intelligence-healthcare">AI in Healthcare</a> - <a href="/remote-patient-monitoring-industry-explained">Remote Patient Monitoring Industry: Devices &amp; Market Trends</a> <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/the-surprising-origin-of-the-darkest-color-on-earth-2019-10">The darkest color in the world is darker than Vantablack</a></h3> <div> </div> </div>

The man who helped create Google's life sciences venture is launching a biotech hub to help solve healthcare's biggest problem

New Delhi, Dec 20 () Countering veteran industrialist Rahul Bajaj's remarks that people are afraid to criticise the government, Union Commerce and Industry Minister Piyush Goyal on Friday said everybody has a say and the government listens to all.
 At an award function earlier this month, Bajaj had remarked that there is an "atmosphere of fear" and people are afraid to criticise the government.
 He had said people are afraid of criticising the BJP government's policies and added that no one in the business community would speak about this issue.
 However, Goyal, speaking at a conference organised by Assocham, said this is a listening government and it wants to engage more and more to understand what is happening on the ground.
 "Whatever Rahul Bhai may say at the ET Awards, the fact is that everybody has a say, everybody has an opportunity to talk and irrespective of who makes your name or who gave you your name, we listen to you.
 "It does not matter even if an opposition party leader may have given you your name, for us each one of you are equally valuable and equally important," the minister said.
 Addressing the captains of industry, he also emphasised that the government will have to play the role of a facilitator, of an enabler and have to end that harassment that is felt many times at the lower levels of the government.
 Goyal, who is also the Union railways minister, said the railways is looking at investment of Rs 50 lakh crore over the next 12 years largely coming out of partnerships, engagements, joint ventures, and collaborations. RSN NKD HRS

'Everybody has a say', Piyush Goyal on Rahul Bajaj's remarks

Mumbai, Mar 26 () Diversified Bajaj Group on Thursday said it has pledged Rs 100 crore towards the fight against the coronavirus pandemic.Working with the government and group's network of over 200 NGO partners, it will ensure these resources reach those who need the most, Bajaj Group said in a release."In the ongoing fight against coronavirus, we all need to come forward in ways more than ever before, to ensure that all citizens of our country have access to healthcare and other necessities of life. Today we pledge Rs 100 crore to the fight against Covid-19," Bajaj Group head Rahul Bajaj said. The Rs 100-crore fund will be utilised in supporting upgradation of key healthcare infrastructure required to tackle Covid-19 in Pune, which is the company's base, extending immediate support to the most affected- daily wage workers, the homeless and street children and in rural care and livelihood aid, he said. The aid will support the government and identified private sector hospitals to upgrade ICUs, procure additional equipment and consumables including ventilators and personal protection equipment, enhance testing, and set up isolation units. These interventions will support communities in Pune, Pimpri-Chinchwad and rural areas of Pune. "We are also working with organisations in multiple geographies to extend immediate support to the most-affected daily wage workers, the homeless and street children. Bajaj group will support initiatives on food supply, shelter and access to sanitation and healthcare," Bajaj stated. Stating that in the last few weeks, there has been a reverse migration to the villages, he said, "We are thus committing a significant portion of our support towards an economic aid programme in rural areas which includes a direct survival grant, followed by a livelihood intervention using a revolving fund model."The family pays back the loan from the earnings of the livelihood intervention- leading to 80 per cent of funds provided to the family being returned to a community fund for further deployment to others in need within the community, Bajaj added. "We will also work with authorities and partners towards creating awareness on Covid-19 and strengthening health infrastructure in the rural areas, including supporting and strengthening diagnostic centres and isolation facilities," he said. Saluting all the health care, sanitation and emergency support workers and local police who are working tirelessly to contain the situation, Bajaj said the group is committed towards helping them in every possible manner to fight this pandemic. IAS MRMR

Bajaj Group pledges Rs 100 cr for fight against coronavirus

<ul><li><keyword id="2623347" type="PERSON" weightage="20" keywordseo="Biocon-chief-Kiran-Mazumdar-Shaw">Biocon chief Kiran Mazumdar Shaw</keyword> and former Infosys Director <keyword id="6491998" type="PERSON" weightage="20" keywordseo="mohandas-pai">Mohandas Pai</keyword> told a newspaper that they were told hold back their criticism of the Modi government by an official.</li><li><keyword id="33278" type="PERSON" weightage="20" keywordseo="Rahul-Bajaj">Rahul Bajaj</keyword>, chairman of Indian conglomerate Bajaj Group, said that the auto industry’s going through a rough patch because of lack of demand and no private investment. </li><li>Over the months, more and more stock market investors have taken to Twitter to talk about the government’s unfriendly market policies. </li><li>Adi Godrej, chairman of the Godrej group, had said that the Budget presented by Finance Minister Nirmala Sitharaman is not “growth-oriented”.</li></ul>Indian companies have been betting big on PM <keyword id="6354477" type="PERSON" weightage="20" keywordseo="Narendra-Modi">Narendra Modi</keyword>. And why not? In 2017-18, a lion’s share of <a href="https://www.business-standard.com/article/economy-policy/data-shows-bjp-bagged-92-of-corporate-donations-to-political-parties-119011701405_1.html">corporate</a> political donations went to his party, BJP. Now, they are livid. The latest to join the bandwagon of angry corporates is Kiran Mazumdar shaw who made a shocking revelation on Sunday. A government official reportedly told her not to speak of harassment by tax officials in relation to <a href="https://www.businessinsider.in/rip-vg-siddharthas-death-and-why-former-prime-minister-hd-deve-gowda-cried/articleshow/70464431.cms" data-type="tilCustomLink" target="_blank">the unfortunate death of VG Siddhartha</a>, the founder of <keyword id="46195" type="COMPANY" weightage="20" keywordseo="Cafe-Coffee-Day">Cafe Coffee Day</keyword> outlets. "“He just said that ‘please don’t make such statements. Even Mohandas Pai should not. I am telling you as a friend’,” the Biocon chief told The Telegraph. Even Mohandas Pai, the former Infosys director who is currently a private investor who backs startups, chimed in. "Lots of people get such threats," he told the newspaper. Both of them have been avid supporters of Narendra Modi in the past and bitter critics of the Congress-led United Progressive Alliance government that ruled from 2004 to 2014. “I used to speak out always. It doesn’t matter if UPA is in power or the NDA,” Shaw said urging the corporate world to speak up. Earlier, Rahul Bajaj, the chairman of Indian conglomerate Bajaj Group. During his company’s Annual General Meeting, he spoke of the government’s role in the weak sales of the auto industry. Fall from Heavens “There is no demand and no private investment, so where will growth come from? It doesn’t fall from the heavens. The auto industry is going through a very difficult period. Cars, commercial vehicles and two-wheelers are going through a rough patch,” Bajaj added. The Budget has not cheered them either. The government imposed a tax on super rich, and <a href="https://www.business-standard.com/article/markets/sebi-s-separate-fpi-registration-plan-draws-flak-from-investors-119061901134_1.html">Business Standard</a> had reported that market regulator SEBI mandated separate registrations for Foreign Portfolio Investors. The resentment against these rules is rising. The slow pace of economic growth, and their credibility isn’t helping either. Until now, corporate giants stayed out of the debate over credibility of government's growth data between <a href="https://www.businessinsider.in/131-cas-respond-to-letter-from-economists-disputing-govt-gdp-data/articleshow/68463411.cms">108 economists</a> and 131 chartered accountants. But, now they are not holding back. “The government may or may not be saying this but there are clear cut markings from the International Monetary Fund (IMF) and World Bank, which shows a decrease in growth in the last three-to-four years. Like any government they would like to show a happy face, but reality is reality” Rahul Bajai <a href="https://www.moneycontrol.com/news/technology/auto/angry-rahul-bajaj-criticises-centre-for-falling-demand-private-investment-4259711.html">said.</a> Meanwhile, his son Rajiv Bajaj had said government’s policies on<a href="https://www.moneycontrol.com/news/technology/auto/governments-policy-on-electric-vehicles-has-left-everybody-confused-rajiv-bajaj-4252151.html"> electric vehicles</a> had left everyone confused. Complaints in chorus The Bajajs, Kiran Mazumdar Shaw, and Mohandas Pai are not alone. Adi Godrej, chairman of the Godrej group, too <a href="https://www.firstpost.com/business/industry-leaders-reaction-on-budget-2019-adi-godrej-says-budget-is-not-growth-oriented-stock-market-comes-down-considerably-6940161.html">said</a> that the Budget presented by Finance Minister Nirmala Sitharaman is not “growth-oriented”. <a href="https://www.ndtv.com/india-news/adi-godrej-rising-intolerance-hate-crimes-can-seriously-damage-growth-2068996">Godrej also touched upon a sensitive subject </a>saying that rising intolerance in the country is also affecting growth. Investor and author Basant Maheshwari recently took to Twitter to say, “Lowering GST and other charges on Electric Vehicles won’t create demand. There is just no infrastructure. People won’t change preferences like that plus EVs aren’t cheap. However, it will surely lead to a fresh bout of short selling in the frontline auto names? That’s all.” This is an unexpected move for top corporates who had stayed away from government bashing even during demonetisation in 2016. Clearly, the tables have now turned. Porinju Veliyath, founder and CEO of Equity Intelligence, after the Budget said, “India dreams a $5 trillion, graft-free, double-digit, free-market-driven, rule-based and liberal economy by 2025! This is very much doable, but I am afraid parts of the Budget - the direction it points, can take us back to 4% GDP growth rate!” Center of the Left Veliyath had even written a letter to his investors, explaining the poor performance of his portfolio. "Some of the budget provisions did not acknowledge the cardinal principles of a free-market economy," Veliyath said in his letter on Thursday (July 18) adding that the positives of the continuity in government <a href="https://www.businessinsider.in/india-market-news-porinju-veliyath-blames-the-budget-for-bear-market-in-smaller-stocks/articleshow/70277012.cms">has been lost with the market unfriendly provisions in the Budget. </a> When big money backed Modi with hopes of market reform, they made a bad bet on a party whose ideology is rooted in ‘Swadeshi’, which can be loosely translated to home-grown conservatism. As the commentator and author <a href="http://www.newindianexpress.com/opinions/columns/shankkar-aiyar/2019/jul/21/the-bjps-socialistic-conservatism-2006971.html">Shakar Aiyar argued recently</a>, “In popular perception, the BJP was seen as the home of right of centre economics. And the centre continues shifting to the left.” SEE ALSO: <a href="https://www.businessinsider.in/rip-vg-siddharthas-death-and-why-former-prime-minister-hd-deve-gowda-cried/articleshow/70464431.cms" data-type="tilCustomLink" target="_blank">A former Prime Minister cried on national TV for VG Siddhartha-- the untold tales of politics and privilege may die with India’s coffee baron</a> <a href="https://www.businessinsider.in/cafe-coffee-day-founder-vg-siddhartha-letter-to-board-of-directors/articleshow/70443951.cms" data-type="tilCustomLink" target="_blank">Full text of the letter written by Cafe Coffee Day founder VG Siddhartha before he went missing</a>

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