Telangana Chief Minister K. Chandrashekhar Rao on Saturday condoled the death of Indian business tycoon and ITC Group Chairman Y.C. Deveshwar.

The Chief Minister conveyed his condolences to the members of the bereaved family.

Deveshwar died on Saturday in a Gurugram hospital. He was 72, and was ITC’s longest serving corporate head.

In a message, Chief Minister KCR recalled Deveshwar’s presence when the TS-IPass was launched in Hyderabad in June 2015 and the way he extended his support to Telangana in that meeting for the industrial development in the state.

TS-IPass was the new industrial policy unveiled by Telangana to speed up clearances for industrial units.

At the launch of the policy, Deveshwar had announced investment of Rs 8,000 crore in Telangana.