09/10/2024
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09/10/2024
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MUMBAI, Oct 9: Ratan N. Tata, the visionary former chairman of Tata Sons, passed away on October 8 at the age of 86. A towering figure in the Indian industry, Ratan Tata's leadership transformed the Tata Group into a global conglomerate.
Born on December 28, 1937, Tata was the great-grandson of Jamsetji Tata, the founder of the Tata Group. He earned a Bachelor of Architecture from Cornell University in 1962 and soon joined the family business.
In 1991, he assumed the role of chairman during a challenging period for the company, which had revenues of just USD 5.8 billion. Under his leadership, Tata Group expanded significantly, with revenues skyrocketing to nearly USD 85 billion by 2011.
Ratan Tata played a key role in the acquisition of international companies such as Jaguar Land Rover and Corus Steel, cementing Tata Group’s presence in industries like steel, automobiles, telecommunications, and IT. He was also a strong advocate for India’s economic liberalization in the 1980s.
In a 1985 interview with India Today, Tata expressed optimism about the country's newer economic policies, saying, "I feel that the private sector must support and encourage this process. Industry leaders should stand up for this."
Ajay Piramal of Piramal Group credited Tata's "quiet yet impactful leadership" for elevating the Tata Group to its iconic status. “With Ratan driving innovative initiatives, the Group’s revenues increased by more than 40 times during his tenure,” Piramal remarked in 2021.
Ratan Tata was also instrumental in the globalization of the Tata Group, with nearly two-thirds of its revenues coming from overseas markets. He was behind the launch of the Tata Nano, the world’s most affordable car, aimed at making automobile ownership accessible to the Indian masses. Tata once explained, "I had the Indian family in mind when I designed this car, where four people travel together by motorbike. I thought they could travel more safely by car."
After his retirement in December 2012, Tata Sons honored him with the title of Chairman Emeritus.
Beyond his business achievements, Ratan Tata was deeply committed to philanthropy, guiding the Tata Trusts in various community development and social initiatives across India. His efforts focused on improving education, healthcare, and rural development, impacting countless lives.
Ratan Tata’s contributions were widely recognized, earning him prestigious honors such as the Padma Vibhushan, India’s second-highest civilian award, and the Knight Grand Cross of the Most Excellent Order of the British Empire. He was respected for his business acumen and steadfast integrity throughout his life.
