Lockdowns to contain the Covid-19 pandemic destroy businesses, jobs and the economy without necessarily controlling the spread of the disease, Rahul Bajaj, former chairperson of Bajaj Auto, said in his last letter to shareholders. The octogenarian retired in May after chairing the company’s board for 49 years.“Let us also hope that we do not react to the epidemic by declaring more lockdowns, as we did the last time,” he said in the company’s latest annual report.Bajaj and his son and Bajaj Auto managing director Rajiv Bajaj have been critical of shutdowns on public fora. The latter had told politician Rahul Gandhi in a widely watched interview last year that the lockdown had flattened the wrong curve in India – the GDP growth rate instead of the Covid-19 infection rate. Rahul Bajaj said he was concerned about the state of the economy in the quarter ending June and what the numerous state-wide lockdowns in the country might do to businesses and economic growth. 84007708Recounting the number of Covid-19 infections and deaths around the world, Bajaj said, “Everything suggests that, in epidemiological terms, things will get worse before getting better.” He pinned his hopes on rapid vaccination as well as the strict enforcement of mask-wearing and social distancing to bring the second wave under control.In his letter, senior Bajaj also highlighted the company’s performance during the pandemic. It posted revenue of Rs 27,133 crore for FY21, which, despite declining by 6.8% over FY20, was the third-highest in Bajaj Auto’s history. “Given the circumstances, I believe that these are creditable results,” he said.Emotional adieu“Your managing director, Rajiv Bajaj, his team and every employee of your company should be collectively congratulated for the tremendous efforts that they have made in the most difficult year that our country has witnessed,” he said.Bajaj also spoke about the electric scooter Chetak, which brought back the brand name that had originally put Bajaj Auto on the automotive map in the 1970s. Bookings for the new, electric Chetak had to be stopped within 48 hours of reopening this April due to “an overwhelming response.” The company hasn’t disclosed the number of bookings.Bidding an emotional adieu to Bajaj Auto’s shareholders, Bajaj said that after 49 years chairing the board it was time to pass the mantle on to a younger person. Cousin and confidant Niraj Bajaj has taken over as the company’s chairperson.