The Rasna Group on Monday said its founder and Chairman Areez Pirojshaw Khambatta has passed away.
Khambatta, 85, who was also the Chairman of Areez Khambatta Benevolent Trust and Rasna Foundation, passed away on Saturday, a statement from the group said.
He was also the former Chairman of WAPIZ (World Alliance of Parsi Irani Zarthostis) and past President of Ahmedabad Parsi Panchayat, Vice President of the Federation of Parsi Zoroastrian Anjumans of India.
"Khambatta has contributed immensely to Indian industry, business, and most importantly societal development through social service," the statement said.
Khambatta is known for creating the iconic home-grown beverage brand Rasna, which is sold at 1.8 million retail outlets in the country.
Rasna is now the world's largest soft drink concentrate manufacturer.
Rasna is now sold across 60 countries around the world and has always been a market leader in a beverage segment dominated by multinational corporations (MNCs).
He created affordable soft drink packs of Rasna in the 1970s as an alternative to soft drink products sold at high costs.
A pack of Rasna of Rs 5 can be converted into 32 glasses of soft drinks, costing a mere 15 paise per glass.
Rasna still enjoys a high recall and the brand's "I love you Rasna" campaign is still fresh in the minds of people who grew up in the 80s and 90s.