In a condolence message, the Chief Minister recalled the laurel brought to Punjab by Munjal, who was credited with bringing a revolution in automobile sector by manufacturing the largest number of motorbikes in the country.
The Centre had conferred prestigious Padma Bhushan award to him in March 2005 for his contribution in trade and Industry.
Describing the death of the business tycoon as a great "personal" loss, Badal said that the state has lost one of its well-known son, who would be ever remembered for his hard work and dedication.
The doyen of Indian two-wheeler industry passed away this evening after a brief illness. He was 92.
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Expressing his sympathies with Munjal's family, the Chief Minister prayed for eternal peace and strength to the family members.
Meanwhile, Congress Deputy Leader in the Lok Sabha Capt Amarinder Singh today condoled the death of Brij Mohan Munjal, one of the great doyens and pioneers of the Indian industry.
In his condolence message, Capt Amarinder said, "With Munjal's death, the country had lost a great visionary and entrepreneur and Punjab had lost a son, who made an indelible mark in industry and entrepreneurship and made all Punjabis feel proud."