Prime Minister Narendra Modi on Sunday condoled the demise of former Tata Sons chairman Cyrus Mistry and said his passing away is a big loss to the world of commerce and industry.


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Mistry, 54, was killed in a road accident on Sunday after his car hit a divider in Maharashtra's Palghar district, a senior police officer said.


"The untimely demise of Shri Cyrus Mistry is shocking. He was a promising business leader who believed in India's economic prowess," Modi said in a tweet.


"His passing away is a big loss to the world of commerce and industry. Condolences to his family and friends. May his soul rest in peace," the prime minister said.