Prime Minister Narendra Modi, several Union ministers and leaders from various parties on Sunday condoled the demise of veteran stock market investor Rakesh Jhunjhunwala, and lauded his contribution to the financial world.

Ace stock market investor Jhunjhunwala — referred to as India's Warren Buffett — died in Mumbai on Sunday morning due to cardiac arrest. He was 62. 

"Rakesh Jhunjhunwala was indomitable. His passing away is saddening. My condolences to his family and admirers. Om Shanti," Prime Minister Narendra Modi tweeted.

Lok Sabha Speaker Om Birla said he was pained to know that business magnate Jhunjhunwala, who promoted several premier enterprises, is no more.  

A host of ministers condoled Jhunjhunwala's demise and hailed his contribution to the financial world.

Home Minister Amit Shah expressed anguish at the passing away of Jhunjhunwala.

BJP chief J P Nadda said he was saddened by the terrible news of the passing away of the veteran investor. 

Defence Minister Rajnath Singh said he was shocked by the sudden demise of Jhunjhunwala.

Starting off his journey in stock markets while still in college with a capital of just ₹5,000, Jhunjhunwala recently teamed up with ex-Jet Airways CEO Vinay Dube and former IndiGo head Aditya Ghosh to launch Akasa Air, India's newest budget carrier.

Condoling Jhunjhunwala's demise, Aviation Minister Jyotiraditya Scindia said he will be remembered for giving India its new airline Akasa Air after more than a decade. Scindia had on August 7 inaugurated Akasa Air's first flight, which operated from Mumbai to Ahmedabad. Scindia said: "Shri Rakesh Jhunjhunwala Ji was not only an astute businessman but also passionately invested in India's growth story." 

Finance Minister Nirmala Sitharaman condoled his demise and said he was a "bold risk taker, masterly understanding of the stock market, clear in communication- a leader in his own right". 

Women and Child Development Minister Smriti Irani said she had lost her "brother" with the passing away if Jhunjhunwala.

Minister for Road Transport and Highways Nitin Gadkari expressed sadness over the passing away of Jhujhunwala and said he had been the part of India's growth story and an inspiration to budding investors.

Minister of Petroleum and Natural Gas and Minister of Housing and Urban Affairs Hardeep Singh Puri said the demise of Jhunjhunwala is deeply saddening. 

In a tweet, Shiv Sena leader Aaditya Thackeray said, “Bidding adieu to the Big Bull of Dalal Street, Rakesh Jhunjhunwala ji”

Another Shiv Sena leader Priyanka Chaturvedi also expressed sadness at Jhunjhunwala’s demise, and said he was not just bullish about the stock market but also about the nation.

Condoling the investor’s death, Congress leader Jaiveer Shergill said his death is a big loss to the financial world and his ability to sense the pulse of the market will always remain unmatched. “A veteran investor & industrialist, his contribution to the Indian Capital Market was immense. The Big Bull of Dalal Street leaves behind an inspiring legacy,” Telegu Desam Party Chief N Chandrababu Naidu said.

Maharashtra Chief Minister Eknath Shinde expressed sadness at the passing of the veteran investor. "India has lost a gem, who made a mark not just on the stock market but on the minds of almost every investor in India," he said.

Maharashtra Deputy Chief Minister Devendra Fadnavis said Jhunjhunwala's contribution to Indian industry and economic development will be remembered forever.

Published on August 14, 2022