Here's why Bajaj Auto chairman, Rahul Bajaj was termed a 'protectionist'

Bajaj Auto chairman Rahul Bajaj does not mince his words, which is something the outgoing batch of ISB Hyderabad recently witnessed. Bajaj, in his key-note address at the convocation ceremony of the institute, spoke about how he was branded as a ‘protectionist’ when he spoke up on the influx of foreign companies post liberalisation in the 1990s.

“You have heard of Unilever...Unilever wants protection from takeovers and is seeking a level-playing field..but when I used the words ‘level-playing field’ in 1995, I was dubbed a ‘protectionist,’” he said.

Bajaj also alluded to the Bombay Club, a lobby of domestic industrialists against removing trade barriers, and how he was left without support.

“It had 15 members, but it was like a one-member club. The government said ‘Shut up’ and they obediently shut up, but not me. It seems that I was 20 years ahead of my time,” he said. Among the audience of rapt listeners was also Adi Godrej, who is the chairman of the ISB board.

The ceremony had its light moments too. While giving an award to the batch topper, Bajaj jokingly took the trophy back from the student, implying that he wouldn’t give it to him, as the audience erupted into laughter.