"We are extremely proud to welcome Ratan to our board of trustees," Harvey V Fineberg, chairman of the board said in a statement yesterday.

"Ratan has an unparallelled knowledge of the global economy, as well as the business sector in one of the world's most important emerging economies," Fineberg said after the announcement.

"He has enormous experience managing large organisations, and I know he will be a tremendous asset for Carnegie," he added.

Welcoming him, Carnegie President Jessica T Mathews said: "We are honoured to welcome Ratan to Carnegie's board."

Finberg expressed hope that having Tata on their Board of Trustees would be an asset for Carnegie in developing it as "the truly global think tank" and would also be helpful in establishing Carnrgie's new South Asia Centre in New Delhi.

Ratan Tata was the chairman of Tata Sons, the holding company of the Tata Group, from 1991 until his retirement at the end of 2012. He was also chairman of the major Tata companies, including Tata Motors, Tata Steel, Tata Consultancy Services, Tata Power, Tata Global Beverages, Tata Chemicals, Indian Hotels, and Tata Teleservices. During his tenure, the group's revenues grew to over USD 100 billion annually.

Tata is chairman of two of the largest private-sector-promoted philanthropic trusts in India. He is also a member of the Indian Prime Minister's Council on Trade and Industry.

Carnegie Endowment for International Peace, the oldest think tank in the United States was established in 1910. It is globally renowned with research centres in Moscow, Beijing, Beirut, and Brussels as well as a program in Almaty, Kazakhstan in addition to its headquarters in Washington, DC.

PTI