Titan Of India Inc, No More! Ratan Tata Dies At 86; PM Modi Says 'Was A Visionary Business Leader'

Ratan Tata, the man who needs no introduction, a priceless gem of India and the titan of the country's business world, dies at the age of 86, in late hours of Wednesday, October 9, 2024. The chairman emeritus of Tata Sons, passed away in a hospital in Mumbai where he was receiving critical treatment. Following his death, all Tata Group stocks will be in focus on Thursday, October 10, 2024.

On the death of the philanthropic icon, Tata Sons, Chairman, N. Chandrasekaran said, "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."

"For the Tata Group, Mr. Tata was more than a chairperson. To me, he was a mentor, guide and friend. He inspired by example," Chandrasekaran added.

With an unwavering commitment to excellence, integrity, and innovation, Chandrasekaran said, "The Tata Group under his stewardship expanded its global footprint while always remaining true to its moral compass."

Chandrasekaran further added, "Mr. Tata's dedication to philanthropy, and the development of society has touched the lives of millions. From education to healthcare, his initiatives have left a deep-rooted mark that will benefit generations to come. Reinforcing all of this work was Mr Tata's genuine humility in every individual interaction.

"His legacy will continue to inspire us as we strive to uphold the principles he so passionately championed," Chandrasekaran said.

Also, Prime Minister Narendra Modi through his X handle, expressed sorrow and offered condolences. He said, "Shri Ratan Tata Ji was a visionary business leader, a compassionate soul and an extraordinary human being. He provided stable leadership to one of India's oldest and most prestigious business houses. At the same time, his contribution went far beyond the boardroom."

"He endeared himself to several people thanks to his humility, kindness and an unwavering commitment to making our society better," Modi said.

Born on December 28, 1937, before India's Independence, Ratan Tata was the son of Naval Tata, who was adopted by Ratanji Tata, son of Jamsetji Tata, the founding father of India's largest conglomerate Tata Group.

After his graduation from Cornell University College of Architecture with a bachelor's degree in architecture, Ratan joined Tata Group in 1961, and took his first job on the shop floor of Tata Steel.

He stepped into the shoes of J.R.D in 1991 as chairman after the latter's retirement. Ratan Tata accelerated to become the industrialist and philanthropist of the Tata Group of companies. His last position in Tata was as emeritus chairman. He served as chairman of Tata Group from 1990 to 2012 and also took the role of interim chairman from October 2016 to February 2017.

Read Here: All About Ratan Tata, From Birth To Success!

During his tenure, the Tata Group acquired Tetley, Jaguar Land Rover, and Corus, in an attempt to turn Tata from a largely India-centric group into a global business. Tata is also one of the largest philanthropists in the world, having donated around 60-65% of his income to charity. During the 21 years Tata led the Tata Group, revenues grew over 40 times, and profit over 50 times, as per Wikipedia.

Ratan had continued to head its charitable trusts. He was awarded with prestigious awards such as Padma Vibhushan, the second highest civilian honour in India in 2008, after he received the Padma Bhushan, the third highest civilian honour in 2000.

Not just Tata Group, Ratan Tata believed in sharing his intellectuals and helping build the youth of India's future. So far, he had invested in about 30 start-ups, through his personal capacity and some through his investment company.

The news of Ratan Tata being hospitalized has been circulating since Monday. On October 7, he even assured Indian citizens that there is 'no cause of concern'. He had revealed in a statement that he was receiving medical check-ups due to his age, and medical-related conditions.