Indian businessman Ratan Tata, who transformed the group that bears his name into a global conglomerate, has died at the age of 86, the latter announced on Wednesday, October 9.
“It is with a deep sense of loss that we bid farewell to Ratan Navel Tata, a truly extraordinary leader whose immeasurable contributions have shaped not only the Tata Group but also the very fabric of our nation,” the Tata chairman wrote in a statement. Natarajan Chandrasekaran. .
Narendra Modi paid tribute to him for providing “stable leadership to one of India’s oldest and most prestigious companies”, which under his leadership became a growing international business ranging from software to sports cars.
At the head of the family empire in 1991
Born in 1937 in Bombay, Ratan Tata wanted to be an architect and was working in the United States when his grandmother, who raised him, asked him to return home to join the family business, founded in 1868.
He started out in a Tisco (now Tata Steel) workshop, near the blast furnaces, and lived in an apprentice hostel.
He took over the family empire in 1991, riding the wave of liberal reforms India was implementing at the time.
During Ratan Tata’s twenty-one years at the helm of this salt and steel manufacturing conglomerate, the group expanded to include British luxury car brands such as Jaguar and Land Rover.
The staunch bachelor retired in 2012, but then kept an eye on his empire and even took over the business for a few months four years later. Since then he has been honorary president.
More than 165 billion dollars
Companies in the Tata empire achieved more than $165 billion in revenue in 2023-24, surpassing $365 billion in market capitalization at the end of the financial year at the end of March.
The Tata Group said its philanthropic work had “touched the lives of millions”.
“From education to healthcare, their initiatives have left a profound mark that will benefit generations to come,” he added.
Source: BFM TV
