Ratan Tata, Icon of Indian Industry, Dies at 86
India has lost one of its most influential business leaders with the passing of Ratan Naval Tata, Chairman Emeritus of Tata Sons. Ratan Tata passed away at the age of 86 at Breach Candy Hospital in Mumbai on October 9, 2024, after battling age-related health issues. His passing marks the end of an era in India’s corporate world.
N Chandrasekaran, Chairman of Tata Sons, released a statement expressing profound grief: “We bid farewell to Ratan Tata, a leader whose legacy shaped not just the Tata Group but the fabric of our nation.”
Steering Tata Through Economic Liberalisation
Ratan Tata took over as Chairman of Tata Sons in 1991, coinciding with India’s economic liberalisation. Under his leadership, the Tata Group expanded both domestically and internationally. His tenure saw global acquisitions, such as Tata Tea’s acquisition of Tetley in 2000 and Tata Steel’s purchase of Corus in 2007. His most notable success was Tata Motors’ acquisition of the British car brands Jaguar and Land Rover from Ford in 2008.
Despite challenges, including the Corus acquisition, which was considered a strategic misstep, Tata Group thrived under Ratan Tata’s guidance. JLR’s integration into Tata Motors became one of the most successful milestones of his career.
Transforming Tata: From Family-Run to Global Powerhouse
Ratan Tata’s leadership style was marked by a focus on cohesiveness within the Tata Group, which was previously dominated by powerful individuals who ran their companies as personal fiefdoms. When he assumed the role of Chairman, he set out to restructure the leadership by enforcing a retirement policy for directors over 75. This policy led to the departure of several senior executives, including Russi Mody of Tata Steel and Darbari Seth of Tata Chemicals and Tata Tea.
His relentless efforts helped consolidate the Tata brand, which is today recognised globally for its quality and integrity.
A Visionary in Global Expansion
Tata’s strategy for expansion was both organic and through acquisitions. Under his leadership, the group went on an acquisition spree, acquiring over three dozen companies. Tata Motors was transformed from a commercial vehicle manufacturer into a major player in the passenger car segment, largely due to Ratan Tata’s visionary leadership.
He also spearheaded the listing of Tata Consultancy Services (TCS) on the stock exchange in 2004, a move that made TCS one of the most valuable companies in India.
Cyrus Mistry and Tata’s Leadership Transition
In 2012, at the age of 75, Ratan Tata retired as Chairman of Tata Sons. He was succeeded by Cyrus Mistry, a member of the Pallonji Mistry family, which held an 18% stake in Tata Sons. However, Mistry’s relationship with the Tata Group deteriorated, leading to his ousting in 2016. Ratan Tata returned as interim Chairman before the appointment of N Chandrasekaran, the current Chairman of Tata Sons.
Legacy Beyond Business
Ratan Tata’s influence extended far beyond the boardroom. He was one of India’s most significant philanthropists, known for his contributions to healthcare, education, and community development. His involvement in the Tata Trusts, which control a 66% stake in Tata Sons, helped steer charitable initiatives in diverse fields.
Tata’s legacy of social responsibility and philanthropy earned him numerous accolades, including the Padma Vibhushan, India’s second-highest civilian award, in 2008. He was also appointed Knight Grand Cross of the Most Excellent Order of the British Empire and received the Lifetime Achievement Award from the Rockefeller Foundation.
A Lifelong Commitment to the Tata Group
Ratan Tata’s connection to the Tata Group began in 1962, when he joined the company after earning a degree in architecture from Cornell University. Over the years, he served in various leadership roles, including Chairman of major companies like Tata Motors, Tata Steel, Tata Chemicals, and Tata Consultancy Services.
Despite retiring from active business leadership, Tata continued to mentor new businesses and startups through RNT Capital, an investment platform. He was an early investor in Indian unicorns such as Lenskart, Bluestone, and Ola Electric.
Tributes Pour In for Ratan Tata
Leaders from across the world have paid tribute to Ratan Tata. Prime Minister Narendra Modi described Tata as a “visionary business leader, a compassionate soul, and an extraordinary human being.” Tata’s influence on Indian business is unparalleled, and his contributions to nation-building through the Tata Group and his philanthropic efforts will be remembered for generations.
Ratan Tata’s Lasting Impact
Born on December 28, 1937, Ratan Tata grew up within the Tata family’s long tradition of business and philanthropy. His leadership not only reshaped the Tata Group but also set new benchmarks for corporate governance and ethics in India. His vision for global expansion transformed Tata into one of the most respected names in the international business community.
Ratan Tata’s passing leaves behind a monumental legacy. As the Tata Group continues to grow, it will undoubtedly uphold the values and principles championed by one of India’s greatest industrialists.
