Shriram of Usha Intl succumbs to Covid
image for illustrative purpose
New Delhi INDUSTRIALIST and former chairman of Usha International Siddharth Shriram passed away on Monday due to Covid-19, according to people close to the family.
Shriram (76), who served as advisor to the board of Usha International after stepping down from executive role, was admitted to Medanta Hospital in Gurgaon for treatment of Covid-19.
A multi-faceted industrialist, Shriram served as the Chairman of Mawana Sugars Ltd besides being the Chairman of Usha International, known for its sewing machines and home appliances. He had led the Usha Internartional group in forming two joint ventures with Japan's Honda for passenger cars and power products.
However, in August 2012, Usha International exited from its then joint venture Honda Siels Cars India, by selling its entire 3.16 per cent stake to the Japanese partner for Rs 180 crore. Later, last year in April, Honda Motor Co and Usha International terminated their over two-decade old joint venture -- Honda Siel Power Products, thus putting an end to their long relationship.
He was also the chairman of Delhi Policy Group, a think tank with a primary focus on international and strategic issues of critical national interest.
