KUALA LUMPUR — India’s prominent industrialist and former chairman of the Tata Group, Ratan Tata, has died at the age of 86.
He was described as a “truly uncommon leader whose immeasurable contributions have shaped not only the Tata Group but also the very fabric of our nation,” the company said in a statement to announce his death yesterday.
Sources told Reuters that Tata had been undergoing intensive care at a Mumbai Hospital.
Tata never married and about two-thirds of share capital of Tata Sons, Tata Group’s holding company, is held by philanthropic trusts.
Trained in architecture, the Cornell University graduate began working in 1962 for Tata Group, India’s oldest conglomerate founded by his great-grandfather in 1868.
Making his way through several of the group’s companies, he gained experience in motors and steel, gaining recognition after he was able to help one of the group’s units, National Radio & Electronics Company, to increase its market share.
He rose to lead the group in 1991 and embarked on changes in its human resource management, bring the powers of some company heads in line and imposing retirement age caps, while promoting younger staff to senior positions.
Tata branched the group out into other sectors, such as IT, and also began to look abroad for growth in the 2000s.
The group’s foreign acquisitions included British tea firm Tetley and Anglo-Dutch steelmaker Corus which earned Tata Group the accolade of making the biggest takeover of a foreign firm by an India company.
Other brands acquired by the group were luxury auto brands Jaguar and Land Rover from Ford Motor Co.
Tata also tried his hand at creating India’s first home made car, the Indica, and the Nano, designing initial sketches for both models.
He was also prolific investor in many Indian start-ups including digital payments firm Paytm, Ola Electric and Urban Company.
He received India’s second highest civilian honour, called the Padma Vibhushan, in 2008 for “exceptional and distinguished service in trade and industry”
Tata was also known for his quiet demeanour, modesty and philanthropy. – October 10, 2024
