Ratan Tata, former chairman of Tata Sons, pays homage to Jamsetji Tata, the founder of the Tata group, in Jamshedpur. (File Photo)(PTI)
Ratan Tata, one of India’s most respected and influential business leaders, passed away on Wednesday, October 9, 2024. He was 86 years old. Tata had been in critical condition for several days in the intensive care unit at Mumbai’s Breach Candy Hospital. His death marks the end of an era for the Tata Group and India’s corporate world. Known for his humility, business acumen, and deep commitment to philanthropy, Ratan Tata was more than a business tycoon—he was a symbol of ethical leadership and a visionary who shaped the future of India’s industries.
Born on December 28, 1937, Ratan Tata was a member of the Tata family, one of India’s most prominent business dynasties. His father, Naval Tata, was adopted by Ratanji Tata, the son of Jamsetji Tata, who founded the Tata Group in 1868. After completing his education at Cornell University, where he earned a degree in architecture, Ratan Tata joined the Tata Group in 1961. He began his career working on the shop floor of Tata Steel, where he gained valuable insights into the business from the ground up.
In 1991, Ratan Tata became the chairman of Tata Sons, succeeding his mentor, JRD Tata. This was a turning point not only for the Tata Group but also for India’s corporate landscape. Ratan Tata’s leadership style was a combination of tradition and innovation. He managed to modernize the group’s operations while keeping the values that had guided the company for more than a century. Under his leadership, the Tata Group expanded its footprint across the globe, acquiring well-known international brands like Tetley Tea, Jaguar Land Rover, and Corus Steel. These strategic acquisitions helped the Tata Group become one of the most diversified and globalized conglomerates in the world.
One of Ratan Tata’s most notable contributions was the launch of the Tata Nano in 2008. Marketed as the world’s cheapest car, the Nano was a testament to Tata’s belief in making technology and products accessible to the average Indian. While the Nano didn’t achieve commercial success, it solidified Ratan Tata’s reputation as a leader who was deeply committed to improving the lives of ordinary people.
Throughout his career, Ratan Tata remained a champion of ethical business practices. He was known for his integrity and commitment to social responsibility, traits that set him apart in the often cutthroat world of business. In 2000, he was awarded the Padma Bhushan, India’s third-highest civilian honor, and in 2008, he received the Padma Vibhushan, the country’s second-highest civilian award. These honors recognized not only his business achievements but also his contributions to philanthropy.
Ratan Tata was a philanthropist at heart. He believed that businesses should play a significant role in the development of society. Over the years, the Tata Group has donated billions to causes like education, healthcare, and rural development. Through the Tata Trusts, of which he was a trustee, he ensured that a large portion of the group’s wealth was used for social welfare. It is estimated that Tata donated 60-65% of his wealth to charitable causes, making him one of the world’s largest philanthropists.
In his personal life, Ratan Tata was known for his simplicity and humility. He never married and kept a relatively low profile despite being one of India’s wealthiest individuals. He was often seen as a mentor and guide to many young entrepreneurs and business leaders. His investments in startups like Ola, Snapdeal, and Paytm demonstrated his belief in the potential of India’s entrepreneurial spirit.
Even after his official retirement in 2012, Ratan Tata continued to be a guiding force for the Tata Group. In 2016, he briefly returned as the interim chairman of Tata Sons after the ousting of his successor, Cyrus Mistry. His final major achievement came in 2021 when Tata Sons regained control of Air India, the country’s national airline, which had originally been founded by JRD Tata before being nationalized by the government in 1953. This move was seen as a fitting tribute to the legacy of the Tata family.
Ratan Tata’s death has left a deep void in India’s business community. N Chandrasekaran, the current chairman of Tata Sons, said in a statement, “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.” He went on to praise Tata’s vision, leadership, and dedication to philanthropy, noting that his legacy would continue to inspire future generations.
Condolences have poured in from across the country and the world. Prime Minister Narendra Modi expressed his grief, calling Ratan Tata a visionary leader with an unwavering commitment to society. Other business leaders, including Anand Mahindra and Uday Kotak, also paid tribute to the man who had redefined Indian business and philanthropy.
As India mourns the loss of one of its greatest business icons, Ratan Tata’s legacy will continue to influence the corporate world for years to come. His leadership, generosity, and vision have left an indelible mark not only on the Tata Group but on the entire nation.
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