Ratan Tata, the previous Tata Group chairman who put the Indian conglomerate on the worldwide stage with a number of high-profile acquisitions, has died aged 86.
Mr Tata — who ran Tata Group for greater than 20 years as its chairman — was admitted to the Breach Sweet Hospital in south Mumbai on Monday.
“It’s with a profound sense of loss that we bid farewell to Mr Ratan Naval Tata, a very unusual chief whose immeasurable contributions have formed not solely the Tata Group but additionally the very material of our nation,” the corporate mentioned late on Wednesday following Mr Tata’s demise from age-related well being circumstances.
Mr Tata “was a visionary enterprise chief, a compassionate soul and a unprecedented human being,” Indian Prime Minister Narendra Modi mentioned on social media platform X, previously Twitter.
“He offered steady management to certainly one of India’s oldest and most prestigious enterprise homes. On the similar time, his contribution went far past boardrooms,” Mr Modi mentioned.
“Extraordinarily pained by his passing away. My ideas are together with his household, pals and admirers on this unhappy hour.”
Tata Sons chairman Natarajan Chandrasekaran confirmed Mr Tata’s demise and described him as his “good friend, mentor, and information”. In the meantime, industrialist Harsh Goenka referred to as Mr Tata a “titan”.
In 2000, Mr Tata acquired the Padma Bhushan, certainly one of India’s most distinguished civilian awards.
In 2018, he was awarded the Padma Vibhushan, India’s second-highest civilian award, for his distinctive contributions to commerce and business.
He was recognized for his quiet manner, comparatively modest way of life, and philanthropic work.
Tata Group is an enormous conglomerate comprising almost 100 firms, together with India’s largest carmaker, its largest non-public metal producer, and a number one international outsourcing agency. The group employs greater than 900,000 individuals worldwide and was based in 1868 by Jamsetji Tata, extensively considered the “father of Indian Business”. He was Mr Tata’s paternal grandfather.
In 2000, Tata Group acquired British tea firm Tetley for $432 million (£330m), adopted by its buy of Corus (an Anglo-Dutch steelmaker) in 2007 for $13 billion (£9.9bn) — on the time, the biggest international acquisition by an Indian firm.
Ratan Tata pictured with then US vp Joe Biden in 2013
AFP by way of Getty Photos
In 2008, Tata Motors purchased British luxurious automobile manufacturers Jaguar and Land Rover from Ford Motor Co for $2.3bn (£1.8bn).
Tata pioneered industrial aviation in India by launching an airline in 1932. This later grew to become Air India when the federal government nationalised it. In 2021, Tata Group regained possession of Air India after buying the state-owned airline. It additionally launched Vistara, a full-service provider in partnership with Singapore Airways, which later merged with Air India.
A few of Tata Group’s main firms embody Tata Metal, Tata Motors, Tata Energy, and the worldwide IT companies chief Tata Consultancy Providers (TCS).
Mr Tata’s notable tasks at Tata Motors included the Indica — India’s first indigenously designed and constructed automobile — and the Nano, marketed because the world’s least expensive automobile. Though the Indica was a industrial success, the Nano, priced at simply 100,000 rupees (£911), confronted issues of safety and advertising challenges, resulting in its discontinuation a decade after its launch.
After stepping down from energetic management of Tata Group, Mr Tata grew to become a outstanding investor in Indian startups, backing firms together with Paytm (digital funds), Ola Electrical (a unit of ride-hailing big Ola), and City Firm (house and sweetness companies).
Was Ratan Tata married with kids?
A licensed pilot who would sometimes fly the corporate aircraft, Mr Tata by no means married or had kids of his personal.
Nonetheless, he nearly tied the knot on a number of events.
“I got here significantly near getting married 4 occasions and every time I backed off in concern or for one motive or one other,” the billionaire as soon as mentioned. “Every event was completely different, however in hindsight after I take a look at the individuals concerned; it wasn’t a foul factor what I did. I feel it could have been extra complicated had the wedding taken place.”
Tata Sons is the holding firm of the Tata Group and is the principal funding firm for the Tata household’s pursuits. It owns a good portion of the working firms throughout the group.
Tata Sons is primarily owned by Tata Trusts, which holds about 66 per cent of its fairness. The most important Tata Trusts embody Sir Dorabji Tata Belief; J.R.D. Tata Belief; Tata Schooling Belief; and Tata Reduction Belief.
In 2012, Mr Tata stepped down as chairman of Tata Sons after 50 years, passing the baton to Mr Chandrasekaran.
As Mr Tata by no means had a spouse or kids, there’s a lot hypothesis about what’s going to occur to his fortune and who is likely to be within the succession line.
Many Tata relations maintain important positions within the firm and may very well be seen as his successors.
Noel Tata, Mr Tata’s half-brother, has acquired lots of consideration and a few stories counsel he may very well be the member of the family who might proceed the household legacy.
His kids have been just lately appointed to the boards of varied philanthropic trusts and are already carving names for themselves within the Tata dynasty.
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