Mumbai: Ratan Tata, the iconic industrialist, passed away at the age of 86 in a Mumbai hospital on Wednesday. His cremation will take place with full state honours. Maharashtra Chief Minister Eknath Shinde has declared a day of mourning on Thursday to pay tribute to the legendary businessman and philanthropist.
As a mark of respect, the national flag will be flown at half-mast across government offices in Maharashtra, and many scheduled events for the day have been cancelled.
Ratan Tata’s body will lie in state at the National Centre for Performing Arts (NCPA) in Nariman Point, Mumbai, from 10 am to 4 pm today, allowing the public to pay their final respects. The cremation will follow in the Worli area later in the day. Home Minister Amit Shah is set to attend the funeral, as Prime Minister Narendra Modi is traveling to Laos for the ASEAN-India and East Asia summits.
Mr. Tata’s passing signifies the close of an era in Indian business, where one man transformed the nation’s industrial landscape and elevated his family-owned conglomerate into a global giant.
Though he oversaw more than 30 companies operating in over 100 countries across six continents, Mr. Tata led a humble life. Despite his immense influence and achievements, he never sought a place on billionaire rankings, maintaining a reputation for quiet integrity and dignity.
Born on December 28, 1937, in Mumbai, Mr. Tata belonged to one of India’s most distinguished business dynasties. He was the great-grandson of Jamsetji Tata, the visionary founder of the Tata Group, which started as a small trading firm in 1868 and expanded into a vast empire encompassing industries such as steel, salt, automobiles, software, and airlines.
Mr. Tata’s early life was marked by a blend of privilege and adversity. After his parents separated during his childhood, he was raised by his grandmother, Lady Navajbai Tata. He attended the prestigious Cathedral and John Connon School in Mumbai before pursuing higher education in the United States. In 1962, he graduated from Cornell University with a Bachelor of Science degree in Architecture.
Although he later attended the Advanced Management Program at Harvard Business School, his ambitions to become an architect were set aside when he returned to India in the early 1960s to join the family business.
He began his career on the shop floor at Tata Steel’s Jamshedpur plant, a hands-on experience that would heavily influence his future leadership style.
In 1971, Mr. Tata was appointed director-in-charge of National Radio and Electronics Company (Nelco), a struggling subsidiary of the Tata Group. Despite his best efforts, the company couldn’t overcome the economic challenges of the 1970s.
In 1991, Mr. Tata succeeded his renowned uncle, J.R.D. Tata, as chairman of the Tata Group. Having led the conglomerate for over 50 years, J.R.D. was a towering figure, and Mr. Tata faced skepticism both within and outside the organization. However, he quickly silenced the doubters.
That same year, India began liberalizing its economy, shifting away from protectionist policies. Mr. Tata seized this opportunity to steer the Tata Group into a new era, driving global expansion, embracing technological innovation, and implementing modern management practices.
In 2000, Mr. Tata made waves with the $431.3 million acquisition of the British tea company, Tetley, marking the group’s first major international foray. His next significant move came in 2004 when Tata Group acquired Daewoo Motors’ truck manufacturing operations in South Korea for $102 million. However, the crowning achievement was the acquisition of the Anglo-Dutch steel company, Corus Group, in 2007. This $11.3 billion deal was one of the largest overseas acquisitions by an Indian company, positioning Tata Steel as the fifth-largest steel producer in the world.
In 2008, Tata Motors made another historic move, purchasing the iconic British luxury car brands Jaguar and Land Rover (JLR) from Ford Motor Company for $2.3 billion. Though JLR was struggling at the time, under Mr. Tata’s leadership, it underwent a remarkable turnaround, becoming one of Tata Group’s most profitable divisions.
One of Mr. Tata’s most personal ventures was the Tata Nano, a compact car aimed at making vehicle ownership affordable for millions of Indians. Unveiled in 2008, the Nano, dubbed “the people’s car,” was priced at just ₹1 lakh, making it the world’s cheapest car.
While Ratan Tata was a titan in the business world, he was equally admired for his philanthropy. His charitable work was primarily conducted through the Tata Trusts, a group of foundations established by his great-grandfather, Jamsetji Tata. These trusts hold the majority of shares in Tata Sons, the conglomerate’s holding company, ensuring that a significant portion of its wealth is dedicated to social causes.
After taking over the Tata Group in 1991, Mr. Tata played a key role in its global expansion, leading major acquisitions like Corus and Jaguar Land Rover. He broadened the group’s presence across various sectors, including steel, automotive, and information technology. A recipient of the Padma Vibhushan, India’s second-highest civilian honor, Mr. Tata retired in 2012 but continued to serve as an advisor and remained deeply engaged in philanthropy.
Following his retirement as chairman of Tata Sons, Mr. Tata became a mentor to young entrepreneurs and an active investor in start-ups. Through his investment firm, RNT Capital Advisors, he backed more than 30 start-ups, including Ola Electric, Paytm, and Lenskart.
His passing has led to a wave of tributes from across the nation. Prime Minister Narendra Modi hailed him as a visionary business leader and a compassionate soul. Prominent figures like Gautam Adani, Anand Mahindra, and Sundar Pichai also expressed their condolences.
