NEW DELHI: S G Awasthi, a revolutionized businessman man of the Indian small car market in the late 1990s is no more.
SG Awasthi, 79, who was once the chairman and managing director (CMD) of Daewoo Motors India Limited and the managing director of Jaypee Hotels, passed away, at the age of 79.
Awasthi was well-known in the Indian auto industry for his superior managerial and business skills. He is credited with being India's best example of value-based leadership in the 1990s and 2000s.
Awasthi, a graduate of Roorkee College of Engineering, the country's first engineering college, joined the Tata Group in 1966 and rose through the ranks at TELCO in Jamshedpur.
He joined the DCM Group of Companies in 1984, and through sheer will power and perseverance, he worked his way up the success ladder to become the company's managing director in 1991.
By introducing the Daewoo Matiz hatchback variant, he generated buzz in India's small vehicle rivalry. "It will be the trendy, highly useful pair of jeans among automobiles. Don't underestimate us, "Famously, he once stated.
After leaving Daewoo Motors in 2000, Awasthi joined the Jaypee Group as the managing director of Jaypee Hotels Ltd. He then assumed leadership of Jaypee Greens Ltd. as vice chairman.
He resigned from his post in September 2007 due to health issues, but he remained an advisor for the following few years at Jaypee Infratech Limited, a fully owned subsidiary of Jaiprakash Associates Limited.
Until 2017, he was also Bharat Gears Limited's Non-Executive Independent Director. Awasthi served as a board member for a number of other significant committees. In 1995, he served as the chairman of the India-Korea Committee, the CII's Regional Council Committee, the SIAM Committee on Infrastructure, and the SIAM Committee on Project Clean Air & Vehicular Emission. He is survived by his wife and two sons.