Ratan Tata, the iconic leader who redefined India’s corporate landscape and took Tata Group to global prominence, passed away at 86 in Mumbai. In a statement released by Tata Sons Chairman N Chandrasekaran, he expressed deep sorrow, saying, “It is with a profound sense of loss that we say goodbye to Mr. Ratan Naval Tata, an exceptional leader whose unparalleled contributions not only shaped Tata Group but also made a lasting impact on the nation.”
Having recently addressed speculation about his health, Ratan Tata had assured the public that the rumors were baseless, stating in a social media post, “I am aware of the concerns about my health and would like to clarify that these claims are unfounded. Due to my age and associated conditions, I am undergoing routine medical check-ups.”
Born on December 28, 1937, Ratan Tata was the great-grandson of Jamsetji Tata, the founder of the Tata Group. He earned a degree in architecture before attending Harvard Business School’s management program. Ratan Tata joined the Tata Group in 1961. He began his journey on the shop floor at Tata Steel in Jamshedpur, starting from the ground up in the company that would eventually grow under his leadership.
In 1991, he took over as Chairman of Tata Group when its revenues were $5.8 billion. Under his visionary leadership, Tata Group emerged as a global force across industries. Key milestones of his tenure include:
– Acquisitions of international brands like Tetley, Corus, and Jaguar Land Rover.
– Tata Motors’ development of the first Indigenous car (Indica) and the world’s cheapest car (Nano).
– Tata Sons’ acquisition of VSNL, which led to the creation of Tata Communications.
One of his most strategic achievements was the public offering of Tata Consultancy Services (TCS) in 2004. Today, TCS is India’s largest IT services company, generating over $4 billion annually in dividends, contributing 90% of Tata Sons’ earnings.
Ratan Tata’s leadership resulted in Tata Group reaching a market valuation of $100 billion by 2011, with two-thirds of its revenue now coming from international markets. After his retirement in December 2012, he was honored with the title of Chairman Emeritus. Among the many accolades Ratan Tata received were India’s second-highest civilian award, the Padma Vibhushan, and the Knight Grand Cross of the British Empire.
Beyond his business achievements, Ratan Tata’s legacy includes a deep commitment to philanthropy. Nearly 65% of Tata Group’s profits are funneled into charitable trusts that support healthcare, education, and rural development.