MUMBAI (The Thursday Times) — Ratan Tata, the former chairman of the Tata Group who transformed the Indian conglomerate into a global powerhouse through several high-profile acquisitions, has passed away at the age of 86, the Tata Group announced late on Wednesday. Tata had been receiving intensive care at a hospital in Mumbai, according to two sources familiar with his medical condition.
In a heartfelt statement, the Tata Group expressed its deep sense of loss. “It is with a profound sense of grief that we bid farewell to Mr. Ratan Naval Tata, a 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
Prime Minister Narendra Modi also paid tribute to Tata, calling him a “visionary business leader, a compassionate soul, and an extraordinary human being.” In a message shared on the social media platform X, Modi added, “I am deeply pained by his passing. My thoughts are with his family, friends, and admirers during this sorrowful time.”
Shri Ratan Tata Ji was a visionary business leader, a compassionate soul 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 the boardroom. He endeared… pic.twitter.com/p5NPcpBbBD
— Narendra Modi (@narendramodi) October 9, 2024
Humble beginnings
Tata’s journey with the conglomerate began in 1962 after earning an architecture degree from Cornell University. Returning to India, he started working for the group, which had been founded nearly a century earlier by his great-grandfather. Over the years, Tata worked with several Tata companies, including Telco (now Tata Motors) and Tata Steel. His early success came in turning around the fortunes of the group’s unit, National Radio & Electronics Company, where he eradicated losses and expanded market share.
In 1991, following the retirement of his uncle J.R.D. Tata, Ratan Tata took over as chairman of the group. His tenure coincided with a pivotal moment in India’s history, as the country was implementing sweeping economic reforms that opened it up to the world and fueled rapid growth.
One of his first acts as chairman was to streamline the management of the conglomerate, establishing retirement ages for senior executives and bringing younger talent into leadership roles. He also strengthened the group’s control over its subsidiaries.
In 1996, he founded Tata Teleservices, marking the group’s entry into the telecommunications sector. His leadership in the technology sector further shone when Tata Consultancy Services (TCS), now the group’s biggest revenue generator, went public in 2004.
Ratan Tata realised that, in order for the group to thrive, it needed to expand beyond India. Under his leadership, the Tata Group embarked on several major international acquisitions. In 2000, the group bought British tea company Tetley for $432 million. This was followed by the acquisition of Anglo-Dutch steelmaker Corus in 2007 for $13 billion, marking the largest foreign acquisition by an Indian company at the time. A year later, Tata Motors purchased the British luxury car brands Jaguar and Land Rover from Ford for $2.3 billion.
From tea to cars
Ratan Tata’s passion for innovation was evident in his contributions to Tata Motors. He was personally involved in the design of the Indica, the first car model designed and produced entirely in India, and the Nano, which was initially touted as the world’s cheapest car. Although the Indica became a commercial success, the Nano struggled due to safety concerns and marketing missteps, ultimately being discontinued a decade after its launch.
Beyond his business acumen, Ratan Tata was also a licensed pilot who occasionally flew the company’s plane. He lived a modest and quiet life and never married. His philanthropic efforts were extensive, with around two-thirds of the share capital of Tata Sons, the conglomerate’s holding company, being held by charitable trusts.
Chairman Emeritus
Tata’s leadership wasn’t without challenges. In 2016, a public feud erupted after the ouster of Cyrus Mistry, the chairman of Tata Sons and a member of the billionaire Shapoorji Pallonji family. The Tata Group cited Mistry’s inability to turn around underperforming businesses as the reason for his dismissal, while Mistry accused Ratan Tata, who remained chairman emeritus, of interfering and creating a parallel power structure within the group.
After retiring from active leadership, Ratan Tata became an influential investor in Indian startups. He supported a range of companies, including digital payment platform Paytm, electric vehicle maker Ola Electric, and Urban Company, which provides home and beauty services.
Ratan Tata was widely recognised for his contributions to industry and trade. In 2008, he was awarded the Padma Vibhushan, India’s second-highest civilian honor, for his exceptional and distinguished service.
Later years
In his later years, Ratan Tata remained an influential figure in Indian and global business circles, becoming a key investor in numerous startups such as Paytm and Ola Electric. His passion for innovation and philanthropy extended well beyond his retirement as chairman of Tata Group.
My last meeting with Ratan Tata at Google, we talked about the progress of Waymo and his vision was inspiring to hear. He leaves an extraordinary business and philanthropic legacy and was instrumental in mentoring and developing the modern business leadership in India. He deeply…
— Sundar Pichai (@sundarpichai) October 9, 2024
Upon his passing at 86, the global business community expressed profound grief. Google CEO Sundar Pichai recalled his last meeting with Tata, discussing autonomous driving technologies like Waymo and lauded Tata for his visionary leadership, which inspired generations of Indian business leaders. Bill Gates also paid tribute, praising Tata’s dedication to improving lives globally through philanthropy and innovation.
