Ratan Tata , the chairman emeritus of theTata Group has passed away.- He was admitted to the Breach Candy Hospital in Mumbai after his blood pressure dropped.
Tata , aged 86, leaves behind a huge legacy and marks the end of an era for the Tata Group.
“Chairman emeritus of India's Tata Group Ratan Tata Has died,” Tata Group said in a statement.
“It is with a profound sense of loss that we bid farewell to Mr. Ratan Naval Tata, a truly uncommon leader whose immeasurable contributions have shaped not only the Tata Group but also the very fabric of our nation,” said N Chandrasekaran, Tata Sons Chairman.
Prime Minister Modi conveyed his condolences and highlighted the significant loss to the nation. Ratan Tata was a prominent figure in the business world, contributing to India's industrial growth and philanthropic efforts. The Prime Minister acknowledged Tata's enduring legacy and the void his passing leaves in the industry and beyond.
On October 7, Tata Group had dismissed rumours about his health, informing people that he was undergoing medical check-ups due to age-related medical conditions.
Tata, who was born on December 28, 1937, played a pivotal role in transforming the Tata Group into a global powerhouse. Tata studied architecture at Cornell University and also attended the Harvard Business School. He began his career with the group in 1961 and became the group’s chairman in 1991, succeeding J.R.D. Tata.
He ran Tata Sons for over two decades and was responsible for its expansion and diversification. He led the company until his retirement in 2012 and continued to guide the group on key issues. He continued to serve in various capacities, including as a mentor to startups and as a board member for several organizations.
Ratan Tata had been one of India’s most respected and iconic industrialists ever since he took the reins of Tata Group in 1991. He led the conglomerate through a transformative period of a liberal India and expanded its global footprint. His focus on innovation and globalization turned Tata Group into a global powerhouse, but what set him apart was his unwavering commitment to ethics and integrity in business.
Under his guidance, the Tata Group diversified and modernised its operations, venturing into sectors such as telecommunications, information technology, and automobiles. He also led the successful acquisition of Jaguar Land Rover (JLR) in 2008 and Corus Steel in 2007, marking a significant shift in the group's global strategy.
Ratan Tata believed in creating a balance between profitability and social responsibility, a principle that earned him admiration beyond corporate boardrooms. Beyond business, Ratan Tata’s legacy is deeply tied to his philanthropic endeavors. As the Chairman of Tata Trusts, one of the oldest and most significant charitable organizations in India, he has dedicated much of his time to improving healthcare, education, and rural development.
Tata was honoured with the Padma Vibhushan, India’s second-highest civilian award in 2008.
After returning as Chairman of the Tata Group in 2016 after a very public boardroom battle with Cyrus Mistry, he handed over the baton to N Chandrasekaran in January 2017 and became the Chairman Emeritus of Tata Sons.
People across social media have expressed their grief about his demise, including industrialists, global leaders and the common public.