He was 77.
Rao, who had been diagnosed with cancer in 2014, breathed his last this afternoon while he was being taken to Nanavati Hospital for a physiotherapy session.
Rao was heading several major trade unions in the city, including the Brihanmumbai Electric Supply and Transport (BEST) union, which runs public transport buses in Mumbai, and Mumbai Autorickshawsmen's Union, which represents majority of auto rickshaw drivers here.
He is survived by his wife Shanta, son Shashank and daughter Shilpa.
"He had been diagnosed with stomach cancer in November 2014, following which he underwent a surgery and his oesophagus was extracted. Since then, a tube had been inserted in his stomach and he was kept on a liquid diet," Rao's son Shashank told PTI.
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Rao had taken over the control of trade unions run by veteran socialist leader George Fernandes after the latter moved to national politics.
"George Fernandes spotted the leadership quality of Sharad Rao and on his request he left his job in Hindustan Lever and joined Mumbai labour union as a secretary," A L Quadros, general secretary of Mumbai Taximen's Union, said in his condolence message.
"He had a huge impact over the working class. Be it BMC employees, BEST workers, autorickshaw and taxi drivers. He stood up for all when they needed him till his last breath. He will be remembered by all," he said.
Rao's body will be kept in Nanavati Hospital till Saturday, after which it will be taken to his residence in the city for family members and associates to pay their last respects.
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