Published: October 10, 2024 6:17 am
Author: RT
The country’s top political and business leaders have expressed grief over Tata’s passing, calling it the “end of an era”
Ratan Tata, one of the world’s most influential industrialists and the former chairman of Tata Group, one of India’s oldest and largest conglomerates, has died at the age of 86.
Tata was admitted to Mumbai’s Breach Candy hospital in a critical condition on Wednesday, Reuters reported. Earlier this week, reports emerged in the Indian media that Tata had been hospitalized following a significant drop in blood pressure. He then took to social media, stating that his hospital visit was for a routine checkup related to his age and health condition.
However, the Tata Group confirmed his passing on Wednesday night, writing: “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.”
— Tata Group (@TataCompanies) October 9, 2024
Ratan Tata joined the family business, started by Indian industrialist and philanthropist Jamsetji Nusserwanji Tata in the 1870s, after earning a degree in architecture from Cornell University in 1962. After serving in various companies, he was appointed director-in-charge of the National Radio and Electronics Company in 1971. In 1981, he was named Chairman of Tata Industries, the group’s other holding company, where he was responsible for transforming it into a group strategy think tank and a promoter of new ventures in high-technology businesses.
Tata then ran the conglomerate as chairman for more than two decades, from 1991 to 2012, after which he became chairman emeritus of Tata Sons, a principal investment holding company and promoter of Tata companies. Tata is credited with transforming what was initially an influential family company into a multinational corporation with a global footprint. During his tenure, the group’s revenues grew manifold, totallng over $100 billion in 2011-12.
Tata Group, popularly referred to in India as a “salt-to-software” conglomerate, unites over 100 companies, including India’s largest automaker, largest private steel company, leading business processes outsourcing firm, and the country’s top brands in energy sectors, consumer retail, and electronics. The companies employ more than 350,000 people worldwide.
READ MORE: India’s Tata set to become first local iPhone maker as Taiwanese company exits
In 2020, just a few years into his role as chairman of the group, Ratan Tata closed a $432 million deal for the acquisition of Tetley, the renowned British tea company and inventor of the tea bag. In 2008, Tata bought Jaguar and Land Rover from Ford for $2.3 billion. In total, Ratan Tata orchestrated more than 60 acquisitions, according to Times of India.
Indian Prime Minister Narendra Modi described Tata as a visionary leader, and a compassionate and an extraordinary human being. “He provided stable leadership to one of India’s oldest and most prestigious business houses. At the same time, his contribution went far beyond boardrooms,” Modi posted on X (formerly Twitter). In his tribute, the prime minister also noted Tata’s philanthropy work: “Tata endeared himself to several people, thanks to his humility, kindness and an unwavering commitment to making our society better.”
My mind is filled with countless interactions with Shri Ratan Tata Ji. I would meet him frequently in Gujarat when I was the CM. We would exchange views on diverse issues. I found his perspectives very enriching. These interactions continued when I came to Delhi. Extremely pained… pic.twitter.com/feBhAFUIom
— Narendra Modi (@narendramodi) October 9, 2024
Mukesh Ambani, chairman and managing director of Reliance Industries, the country’s largest company as per market capitalization, called Ratan Tata’s death “a big loss, not just to the Tata Group, but to every Indian.” Gautam Adani, chairman of Adani Group, another prominent conglomerate, said “India has lost a giant, a visionary who redefined modern India’s path.” Industrialist Harsh Goenka called Ratan Tata a “titan.”
India has lost a giant, a visionary who redefined modern India’s path. Ratan Tata wasn’t just a business leader – he embodied the spirit of India with integrity, compassion and an unwavering commitment to the greater good. Legends like him never fade away. Om Shanti 🙏 pic.twitter.com/mANuvwX8wV
— Gautam Adani (@gautam_adani) October 9, 2024
Google CEO Sundar Pichai said Ratan Tata left behind an extraordinary business and philanthropic legacy and was instrumental in mentoring and developing modern business leadership in India. “He deeply cared about making India better,” Pichai said.
Indian Minister of External Affairs Subrahmanyam Jaishankar described Tata’s passing as “the end of an era.” “He was deeply associated with the modernisation of Indian industry. And even more so with its globalisation. Was my privilege to have interacted with him on numerous occasions. And benefitted from his vision and insights,” he wrote.
The government of Maharashtra, where Tata Group is headquartered, has declared a day of mourning on Thursday to pay tribute to the industrialist. His body will be kept at Mumbai’s National Centre for Performing Arts (NCPA), one of India’s most celebrated cultural centers, founded in the 1970s with the support of Tata Group, on Thursday for people to pay their respects, after which the last rites will be performed.
