Ratan Tata, the former Tata Group chairman who put a staid and sprawling Indian conglomerate on the global stage with several high-profile acquisitions, has died.
The 86 year old legendary industrialist who ran the conglomerate for more than 20 years as chairman, had admirers across the globe.
The Tata Group confirmed the news of Ratan Tata’s demise in a statement on Wednesday night.
Treatment In A Mumbai Hospital
Tata had been undergoing intensive care in a Mumbai hospital, sources told Reuters earlier on Wednesday.
The Tata Group Remembers Him As A Truly Uncommon Leader
“It is with a profound sense of loss that we bid farewell to Mr. Ratan Naval Tata, a truly uncommon leader whose immeasurable contributions have shaped not only the Tata Group but also the very fabric of our nation.”
President Droupadi Murmu Led The Nation In Paying Tribute
President Droupadi Murmu, Vice President Jagdeep Dhankhar and Prime Minister Narendra Modi condoled the demise of Ratan Tata.
The President said, “In the sad demise of Shri Ratan Tata, India has lost an icon who blended corporate growth with nation building, and excellence with ethics.”
” A recipient of Padma Vibhushan and Padma Bhushan, he took forward the great Tata legacy and gave it a more impressive global presence.”
“He inspired seasoned professionals and young students alike. His contribution to philanthropy and charity is invaluable,” the President said.
Vice-President’s Tribute
Vice-President Jagdeep Dhankhar said that he is deeply pained by the passing away of Shri Ratan Tata Ji.
The Vice President described Tata as a towering figure of Indian industry.
He said that Tata’s contributions towards building a self-reliant Bharat will forever be an inspiration to entrepreneurs in India and beyond.”
Prime Minister Narendra Modi’s Condolence Message
Ratan Tata “was a visionary business leader, a compassionate soul and an extraordinary human being,” Prime Minister Narendra Modi said on social media platform X.
PM Modi said, “Extremely pained by his passing away. My thoughts are with his family, friends and admirers in this sad hour.”
Tata’s Family And Career
Born in 1937, Ratan Tata was the great-grandson of Tata Group founder Jamsetji Tata
After graduating with a degree in architecture at Cornell University, he returned to India.
In 1962, he began working for the group his great-grandfather had founded nearly a century earlier.
He worked in several Tata companies, including Telco, now Tata Motors Ltd, and Tata Steel Ltd.
He later made his mark by erasing losses and increasing market share at group unit National Radio & Electronics Company.
In 1991, he took the helm of the conglomerate when his uncle J.R.D. Tata stepped down.
Tata Was A Licensed Pilot
A licensed pilot who would occasionally fly the company plane, Ratan Tata never married.
He was known for his quiet demeanour, relatively modest lifestyle and philanthropic work.
Professional Measures
In one of his first steps, Ratan Tata sought to rein in the power of some heads of Tata Group’s companies.
He enforced retirement age, promoted younger people to senior positions and ramped up control over companies.
Business Expansion
He founded telecommunications firm Tata Teleservices in 1996 and took IT firm Tata Consultancy Services, the group’s cash cow, public in 2004.
The group purchased British tea firm Tetley in 2000 for $432 million and Anglo-Dutch steelmaker Corus in 2007 for $13 billion, at the time the biggest takeover of a foreign firm by an Indian company.
Tata Motors then acquired British luxury auto brands Jaguar and Land Rover from Ford Motor Co in 2008 for $2.3 billion.
Pet Projects At Tata Motors
His pet projects at Tata Motors included the Indica – the first car model designed and built in India – and the Nano.
Not only was the Nano the world’s cheapest car, it was also culmination of Tata’s dream to provide an affordable car for Indian masses.
The Nano priced at just 100,000 rupees (about $1,200) was hurt by initial safety issues and bungled marketing.
It was discontinued a decade after its launch.
He contributed initial sketches for both models.
The Indica was a commercial success.
Philanthropic Trusts
About two-thirds of share capital of Tata Sons, the group’s holding company, is held by philanthropic trusts.
Tata’s Leadership
His leadership at Tata was not without controversy.
The most notable was a bitter public feud after the company ousted Cyrus Mistry, a scion of the billionaire Shapoorji Pallonji clan, as chairman of Tata Sons in 2016.
The Tata Group said Mistry had failed to turnaround poorly performing businesses.
Mistry accused Ratan Tata, who was chairman emeritus of the conglomerate, of interfering and creating an alternate power centre at the group.
Investment In Indian Startups
After he stepped back from the Tata Group, Ratan Tata became known as a prominent investor in Indian startups.
He backed several companies including digital payments firm Paytm, Ola Electric, and Urban Company.
Recipient Of India’s second highest civilian honour
Among his many awards, he received the Padma Vibhushan, India’s second highest civilian honour, in 2008 for exceptional and distinguished service in trade and industry.
Care For Animals
He also deeply cared for animals, particularly dogs.
At the Tata Group headquarters, he famously started a tradition of providing shelter for stray dogs during the monsoons.
Tata was the proud owner of two pet dogs, Tito and Maximus.
(With inputs from Reuters)
