Tata’s Demise Leaves A Void In Indian Industries
FinTech BizNews Service
Mumbai, 9 October, 2024: Mr Ratan Tata, the legendary industrialist and philanthropist, expired today in Mumbai. He died at 86. He breathed his last at the Breach Kendy Hospital.
Ratan N Tata, Chairman Emeritus
Ratan N Tata, Chairman Emeritus, was the Executive Chairman of Tata Sons, one of the two promoter holding companies of the Tata group. Ratan N Tata was the Chairman of Tata Sons, the holding company of the Tata group, from 1991 till his retirement on December 28, 2012. Effective December 29, 2012, Mr Tata was conferred the honorary title of Chairman Emeritus of Tata Sons, Tata Industries, Tata Motors, Tata Steel and Tata Chemicals.
Mr Tata was the 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 and during his tenure, the group’s revenues grew manifold, totaling over $ 100 billion in 2011-12.
Mr Tata served on the international advisory boards of Mitsubishi Corporation and JP Morgan Chase. He was the Chairman of the Tata Trusts which are amongst India's oldest, non-sectarian philanthropic organizations that work in several areas of community development. He was the Chairman of the Council of Management of the Tata Institute of Fundamental Research and also served on the board of trustees of Cornell University and the University of Southern California.
Mr Tata joined the Tata group in 1962. After serving in various companies, he was appointed Director-in-charge of the National Radio & Electronics Company Limited in 1971. In 1981, he was named Chairman of Tata Industries, the group’s other holding company, where he was responsible for transforming it into a group strategy think-tank, and a promoter of new ventures in high technology businesses.
Mr Tata received a BArch degree from Cornell in 1962. He worked briefly with Jones and Emmons in Los Angeles before returning to India in late 1962. He completed the Advanced Management Program at Harvard Business School in 1975.
The Government of India honored Mr Tata with its second-highest civilian award, the Padma Vibhushan, in 2008. He was appointed Knight Grand Cross of the Most Excellent Order of the British Empire and Rockefeller Foundation conferred him with the Lifetime Achievement Award. Among his other achievements, Mr Tata was also an honorary fellow of the Institution of Mechanical Engineers, Royal Academy of Engineering and a foreign associate of National Academy of Engineering. He received honorary doctorates from several universities in India and overseas.
Mukesh Ambani, CMD, RIL:
It is a very sad day for India and India Inc. Ratan Tata's passing away is a big loss, not just to the Tata Group, but to every Indian.
At a personal level, the passing of Ratan Tata has filled me with immense grief as I lost a dear friend. Each of my numerous interactions with him left me inspired and energised and enhanced my respect for the nobility of his character and the fine human values he embodied.
Ratan Tata was a visionary industrialist and a philanthropist, who always strove for society's greater good.
With the demise of Mr Ratan Tata, India has lost one of her most illustrious and kind-hearted sons. Mr Tata took India to the world and brought the best of the world to Bharat. He institutionalised the House of Tata and made it an international enterprise growing the Tata group over 70 times since the time he took over as Chairman in 1991.
On behalf of Reliance, Nita and the Ambani family, I send my heartfelt condolences to the bereaved members of the Tata family and the entire Tata Group.
Ratan, you will always remain in my heart.
Om Shanti.
Anand Mahindra, Chairman & Team member, Mahindra Group, wrote on X (formerly known as Twitter):
I am unable to accept the absence of Ratan Tata. India’s economy stands on the cusp of a historic leap forward. And Ratan’s life and work have had much to do with our being in this position. Hence, his mentorship and guidance at this point in time would have been invaluable. With him gone, all we can do is to commit to emulating his example. Because he was a businessman for whom financial wealth and success was most useful when it was put to the service of the global community. Goodbye and Godspeed, Mr. T You will not be forgotten. Because Legends never die… Om Shanti
Gautam Adani: Chairman, Adani Group:
India has lost a giant, a visionary who redefined modern India's path. Ratan Tata wasn’t just a business leader - he embodied the spirit of India with integrity, compassion and an unwavering commitment to the greater good. Legends like him never fade away. Om Shanti
