Ratan Tata, former Tata group chairman, passes away at 86
Ratan Tata, the chairman emeritus of Tata Sons, one of India’s largest conglomerates, has passed away at the age of 86. Just days earlier, the industrialist had addressed rumors about his health through a social media post, clarifying that he was undergoing routine medical checkups due to his age.
Ratan Tata took over as chairman of the $100 billion Tata Group in 1991, a company established by his great-grandfather over a century ago. He led the group until 2012. In 1996, he launched Tata Teleservices, a telecommunications company, and in 2004, he took Tata Consultancy Services (TCS) public, a major IT success for the group.
He worked in several Tata companies, including Telco, now Tata Motors Ltd, as well as Tata Steel Ltd, later making his mark by erasing losses and increasing market share at group unit National Radio & Electronics Company.
After he stepped back from the Tata Group, Ratan Tata became known as a prominent investor in Indian startups, backing a plethora of companies including digital payments firm Paytm, Ola Electric, a unit of ride hailing firm Ola, and home and beauty services provider Urban Company.
Among his many awards, he received the Padma Vibhushan, India’s second highest civilian honour, in 2008 for exceptional and distinguished service in trade and industry.
Tata Group purchased British tea firm Tetley in 2000 for $432 million and Anglo-Dutch steelmaker Corus in 2007 for $13 billion, at the time the biggest takeover of a foreign firm by an Indian company. Tata Motors then acquired British luxury auto brands Jaguar and Land Rover from Ford Motor Co in 2008 for $2.3 billion.
He founded telecommunications firm Tata Teleservices in 1996 and took IT firm Tata Consultancy Services, the group’s cash cow, public in 2004.
In 2008, the group made headlines by acquiring British car brands Jaguar and Land Rover, an act symbolizing a reversal of colonial roles as an Indian company gained control of iconic British brands.
In 2009, Ratan Tata delivered on his promise to provide an affordable car to the middle class by launching the Tata Nano, priced at just 1 lakh. The Nano became a symbol of innovation and accessibility.
Tata was twice the Chairperson of the Tata Group conglomerate, from 1991 to 2012 and from 2016 to 2017.
With over 13 million followers on X and nearly 10 million on Instagram, he was the ‘most followed entrepreneur’ in India, according to the 360 ONE Wealth Hurun India Rich List 2023.