 "Ratan Tata passes away at 86: A look at his life and enduring legacy | Company News")
FILE PHOTO: Ratan Tata, chairman emeritus of Tata Sons, passed away in Mumbai on October 9, 2024 (Photo: Reuters)
Ratan Naval Tata passed away on Wednesday at Mumbai’s Breach Candy Hospital, leaving behind a legacy of leadership, ethical business practices, and philanthropy.
“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,” said N Chandrasekaran, chairman of Tata Sons, in a statement.
Prime Minister Narendra Modi expressed his condolences on Twitter. “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 himself to several people thanks to his humility, kindness, and an unwavering commitment to making our society better,” he wrote.
As a prominent businessman and chairman of Tata Sons, Tata’s strategic acquisitions and focus on innovation propelled the Tata Group into new markets, establishing it as a respected name worldwide.
Born on 28th December 1937, Ratan Tata led the Tata Group for over two decades. He was chairman from 1991 to 2012 and returned briefly as interim chairman in 2016. Under his leadership, the company grew rapidly. Its Group’s revenue increased from $5.7 billion in 1991 to nearly $100 billion by 2012.
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He played a key role in major global deals. Tata bought Tetley in 2000, Corus in 2007, and Jaguar Land Rover in 2008. Rattan Tata’s leadership also saw Tata Consultancy Services (TCS) rise to global prominence. In 2008, Tata launched the Tata Nano, aiming to create the world’s most affordable car.
Early life and education
Ratan Tata faced personal challenges in his childhood. His parents separated when he was 10, and he was raised by his grandmother, Navajbai Tata. He later went to the US and earned a degree in Architecture from Cornell University. In 1975, he completed an advanced management course at Harvard Business School.
He began his career at Tata Sons in 1962, working on the shop floor. It gave him practical experience in the family business. His early roles included leadership positions at NELCO and Empress Mills. Both companies faced challenges, and despite his efforts, they could not be revived.
Leading the Tata Group
When Ratan Tata became chairman of the Group in 1991, there were questions about his leadership qualities. He quickly dispelled those doubts by modernising the company, expanding into new sectors, and making bold acquisitions. Under his leadership, the Tata Group entered industries like telecoms, steel, and automotive. He also restructured the management and improved the company’s financial health.
Commitment to philanthropy
A large part of Ratan Tata’s legacy lies in his philanthropy. Over 65 per cent of his shares in Tata Sons go to charitable causes. His contributions have funded education, healthcare, and social development projects across the country. Tata’s focus has always been on improving the quality of life for Indians.
Awards and recognition
Ratan Tata has received many awards for his work. These include the Padma Bhushan in 2000 and the Padma Vibhushan in 2008. He was awarded the Oslo Business for Peace Award in 2010. In 2014, Queen Elizabeth II awarded Ratan Tata the prestigious Knight Grand Cross of the Order of the British Empire, one of the UK’s highest civilian honours.
Life after retirement
Even after stepping down in 2012, Tata remains active. He invests in promising start-ups and continues to support charitable causes. Despite his high-profile career, Tata lives a simple life. He was unmarried, resided in a modest home in Mumbai, and loved to drive a Tata sedan.
First Published: Oct 10 2024 | 12:02 AM IST
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