Obituary of Ratan Tata

By Abhirup Roy
(Reuters) – Ratan Tata, the former Tata Group chairman who elevated a traditional Indian conglomerate onto the global stage through numerous high-profile acquisitions, has passed away at the age of 86. The Tata Group announced his death in a statement late on Wednesday.

Tata, who led the conglomerate for over two decades, was in intensive care in a Mumbai hospital at the time of his death, according to sources familiar with his health condition.

Born after his great-grandfather founded the Tata Group nearly a century earlier, Ratan Tata graduated with a degree in architecture from Cornell University and began his career with the group in 1962.

He worked across various Tata companies, including Telco (now Tata Motors), Tata Steel, and played a crucial role in reversing losses and expanding market share at the National Radio & Electronics Company.

In 1991, he succeeded his uncle J.R.D. Tata as chairman, just as India was undergoing significant economic reforms. One of his early initiatives was to enforce retirement ages for some heads of Tata companies, promote younger leadership, and enhance oversight.

In 1996, he founded Tata Teleservices and took Tata Consultancy Services, the group’s key revenue generator, public in 2004. Recognizing the need for global expansion, he led the group into international acquisitions, including the purchase of UK-based Tetley in 2000 and Anglo-Dutch steelmaker Corus in 2007, marking the largest foreign acquisition by an Indian company at that time.

Tata Motors’ acquisitions included British luxury brands Jaguar and Land Rover from Ford in 2008 for $2.3 billion. He initiated projects like the Indica, India's first domestically designed car, and the Nano, aimed at being the world’s cheapest car, though the latter faced setbacks and was discontinued.

Ratan Tata, also an accomplished pilot, maintained a relatively modest lifestyle, remained unmarried, and was committed to philanthropy, with about two-thirds of Tata Sons' share capital held by charitable trusts.

His tenure was marked by a notable controversy surrounding the ousting of Cyrus Mistry as Chairman of Tata Sons in 2016, leading to a public dispute over management issues.

Post-retirement, Tata became a prominent investor in Indian startups, supporting various companies, including Paytm and Ola Electric. Among his accolades, he received the Padma Vibhushan, India’s second-highest civilian award, in 2008 for distinguished service in trade and industry.

($1 = 83.9330 Indian rupees)