“Y.C. Deveshwar made a strong contribution to Indian industry. His efforts helped ITC become a professionally-run Indian company with a global footprint. Saddened by his demise. My thoughts are with his family, friends and the ITC group in this hour of grief,” Modi said in a tweet.
Deveshwar, 72, and was ITC’s longest serving corporate head.
The cause of his death is not known. He was diagnosed with cancer a few years ago.
He had joined ITC in 1968 and became the executive chairman of the company in 1996. As ITC’s longest serving chief, Deveshwar had led the company’s diversification to an FMCG major.