Ratan Tata, the former chairman of Tata Group, who transformed the conglomerate into a global powerhouse, has passed away at the age of 86.
The Tata Group confirmed his death in a statement late on Wednesday, noting that he had been undergoing intensive care at a hospital in Mumbai.
“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,” the company stated.
Indian Prime Minister Narendra Modi expressed his sorrow on social media, calling Tata “a visionary business leader” and a “compassionate soul.”
He extended his condolences to Tata’s family, friends, and admirers during this difficult time.
Ratan Tata, who earned his degree in architecture from Cornell University, began his career in the family business in 1962.
He worked across various Tata companies, significantly improving their performance, before becoming chairman in 1991.
His leadership coincided with a pivotal moment in India’s economic history, marked by liberalization and rapid growth.
Under his stewardship, Tata Group made several landmark acquisitions, including the British tea company Tetley in 2000 and the Anglo-Dutch steelmaker Corus in 2007, which at the time was the largest acquisition of a foreign firm by an Indian company.
In 2008, Tata Motors acquired luxury brands Jaguar and Land Rover from Ford, further establishing the group’s international presence.
Tata was also known for his ambitious projects, including the Tata Indica, the first passenger car designed and manufactured in India, and the Nano, marketed as the world’s most affordable car.
While the Indica was successful, the Nano faced challenges that led to its eventual discontinuation.
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A licensed pilot, Tata was known for his modest lifestyle and commitment to philanthropy, with about two-thirds of Tata Sons’ share capital held by charitable trusts.
His leadership was not without controversy, particularly regarding the ousting of Cyrus Mistry as chairman of Tata Sons in 2016, a move that led to a public feud.
After stepping down, Tata became an influential investor in Indian startups, supporting companies like Paytm and Ola Electric.
His contributions to trade and industry earned him the Padma Vibhushan, India’s second-highest civilian award, in 2008.
Ratan Tata is remembered not only for his business acumen but also for his dedication to social causes and community development.