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Industrialist Siddharth Shriram passes away due to COVID-19

Shriram also led Usha International in forming two joint ventures with Japan's Honda for passenger cars and power products.

twitter-logoBusinessToday.In | May 17, 2021 | Updated 21:55 IST
Industrialist Siddharth Shriram passes away due to COVID-19
After stepping down from executive role at Usha International, Shriram served as an advisor to its board.

Industrialist Siddharth Shriram, former chairman of Usha International, passed away on Monday at the age of 76 years due to COVID-19. He was admitted in Gurugram's Medanta Hospital for treatment.

Born on January 18, 1945, Shriram completed his schooling from Welhem School and the Doon School at Dehradun. He graduated in English Literature from St. Stephens College, Delhi University. He was also a Sloan Fellow at MIT, US.

After stepping down from executive role at Usha International, known for its sewing machines and home appliances, Shriram served as an advisor to its board.

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A multi-faceted industrialist, he also served as the chairman of Mawana Sugars Ltd. Shriram also led Usha International in forming two joint ventures with Japan's Honda for passenger cars and power products.

However, Usha International exited from its the then joint venture, Honda Siels Cars India, by selling its entire 3.16 per cent stake to the Japanese partner for Rs 180 crore in August 2012.

In April last year, Honda Motor Co and Usha International also terminated their over two-decade old joint venture, Honda Siel Power Products, thus putting an end to their relationship.

Shriram was also the chairman of Delhi Policy Group, a think tank with primary focus on international and strategic issues of critical national interest. He also held administrative positions in various sporting and industry associations. He was particularly know for his support to golf.

Also read: Retail inflation since Dec 2020 higher than govt figures: SBI

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