Veteran industrialist Ratan Tata dies at 86

NEW DELHI: Ratan Naval Tata, the former Tata Group chairman who transformed a staid group into India’s largest and most influential conglomerate with a string of eye-catching deals, has died. He was 86.

Tata, who was chairman of the salt to software group for more than two decades, breathed his last at south Mumbai’s Breach Candy Hospital at 11.30 pm on Wednesday.

A Padma Vibhushan recipient, Tata, had been in intensive care at the hospital since Monday.

A top official of the Mumbai police was the first to inform of his death, followed by a confirmation by Tata Group chairman Natarajan Chandrasekaran who called Tata “a truly uncommon leader whose immeasurable contributions have shaped not only the Tata Group but also the very fabric of our nation”.

Educated at Cornell University, Ithaca, New York, the veteran industrialist worked on the shop floor at the family-run group after returning to India in 1962.

He gained experience in several Tata Group firms before being named director in charge of one of them, the National Radio and Electronics Co. in 1971.

He became chairman of Tata Industries a decade later and in 1991 took over as the chairman of the Tata Group from his uncle, JRD, who had been in charge for more than half a century.

Under his stewardship, the conglomerate embarked on a massive expansion drive, snapping iconic British assets including steelmaker Corus and luxury carmaker Jaguar Land Rover.

Its two-and-half-dozen listed firms now make coffee and cars, salt and software, steel and power, run airlines and introduced India’s first super app.

It recently forayed into chip making and is planning an iPhone assembly plant. The conglomerate ended with USD 165 billion in revenue in the last fiscal.

“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,” Chandrasekaran said in a late-night statement.

For the Tata Group, he was more than a chairperson. “To me, he was a mentor, guide and friend. He inspired by example. With an unwavering commitment to excellence, integrity, and innovation, the Tata Group under his stewardship expanded its global footprint while always remaining true to its moral compass,” he said.

Tata’s dedication to philanthropy and the development of society 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,” he said, adding his legacy will continue to inspire. (PTI)