INDIA Inc today paid rich tribute to the dynamism and vision of Parvinder Singh, chairman and managing director, Ranbaxy Laboratories, who passed away on Saturday in New Delhi.

Business leaders and industry associations applauded Singh’s zeal for research and development and internationalisation that transformed Ranbaxy into a genuine Indian MNC.

Mr Singh’s commitment to corporate ethics and corporate governance, too, came in for special mention. At the same time, his friends and business associates spoke movingly today about his humane qualities while describing him as a “complete and fine human being.”

The Confederation of Indian Industry (CII) said, “Mr Singh’s loss would be felt by both the industrial community and the nation. His vision, dynamism and outward-looking policies took Ranbaxy to great heights and made the company one of the few Indian MNCs to win acclaim all over the world.” Describing Mr Singh as a great proponent of technology as a strategic tool for business development, the CII said, “he built a world-class R&D centre at Gurgaon.

He had received a “businessmen of the year” award in recognition of his outstanding leadership and set a benchmark for corporate governance, CII added.

He had been a member of CII national committee as well as the chairman of its international affairs committee.

The Federation of Indian Chambers of Commerce and Industry (Ficci) also expressed grief on Mr Singh’s demise.

Saying that Singh scripted a “qualitative transformation” in the Indian pharmaceutical sector, Ficci termed him as a “visionary” who had made “impressive and deep” contributions to the corporate world. In its glowing references to the corporate leader, Ficci said he set an example of how Indian companies can globalise by building international connectivities and undertaking fundamental research. It also praised his pioneering effect in molecular research in India. Singh was a leading member of Ficci. OS Kanwar, vice-chairman and managing director, Apollo Tyres, said Mr Parvinder Singh had been a great friend of his over the years and in that sense his death represented a huge personal loss.

“Singh’s contribution to the process of professionalisation and highest standards of corporate ethics and governance would serve as an inspiration for the industrial community in coming years,” he said.

“Singh proved that given determination and an unwavering focus on quality of managerial thought, action and industrial production, Indian companies could emerge as winners in the face of global competition,” Mr Kanwar said. “Our best tribute to him would be to perpetuate his business philosophy through creative and dynamic emulation,” Mr Kanwar added.

Subodh Bhargava, chairman, Eicher group, described Mr Singh as a soft-spoken and gentle person, well-read and well-informed. The Ranbaxy chairman, Mr Bhargava said, had built an empire based not on volumes, but on R&D and globalisation.

Mr Singh was a pioneer with a global vision who was able to transform his company through a strong belief in research and development.