Ratan Tata, one of India’s most respected business leaders and former chairman of the Tata Group. He was passed away at the age of 86 at Breach Candy Hospital in Mumbai. He was born on 28 December, 1937, in Bombay (now Mumbai). Ratan Tata became a visionary leader in Indian business and playing a major role in expanding and globalizing the Tata Group.
Ratan Tata: Early Life and Education
Ratan Tata was born into the famous Tata family, known for its industrial leadership and philanthropy. He pursued his education at Cornell University in New York and earned a degree in architecture in the year 1962. After completing his studies, he returned to India to work for the family business.
Rising Through the Ranks at Tata Group
Ratan Tata’s journey in the Tata Group began in 1971 when he was appointed the director in charge of National Radio and Electronics Company (NELCO), a Tata subsidiary. A decade later, he became chairman of Tata Industries and eventually succeeded his uncle, J.R.D. Tata, as the chairman of the Tata Group in 1991.
Expanding the Tata Empire
During his tenure, Ratan Tata aggressively expanded the group’s global presence. Some of the most notable acquisitions under his leadership include:
Tetley Tea (2000): Tata Group acquired the London-based tea company for $431.3 million.
Daewoo Motors’ Truck Division (2004): The group bought South Korea’s Daewoo Motors’ truck business for $102 million.
Corus Group (2007): Tata Steel completed a $11.3 billion deal to acquire the Anglo-Dutch steel giant, marking the largest takeover by an Indian company at the time.
Jaguar and Land Rover (2008): Tata Motors bought these iconic British car brands from Ford for $2.3 billion, making it the biggest acquisition by an Indian automotive firm.
Tata Nano – The “People’s Car”
Ratan Tata is also known for his vision of making cars affordable for the masses. In 2009, Tata Motors launched the Tata Nano, a compact car priced around $2,000, aimed at providing safe and affordable transportation for millions of people in India and beyond. The car was hailed as a breakthrough in automotive engineering for its cost-effectiveness, though it did not achieve the expected market success.
Retirement and Legacy
Ratan Tata stepped down as chairman of the Tata Group in December 2012, having led the conglomerate for over two decades. He briefly returned as interim chairman in 2016 after the removal of his successor, Cyrus Mistry, before retiring again in 2017 when Natarajan Chandrasekaran took over the reins.
Throughout his illustrious career, Tata earned numerous honors, including the Padma Bhushan, one of India’s highest civilian awards, in 2000. His leadership, humility, and commitment to ethical business practices have made him an icon in both India and the global business community.
Ratan Tata’s passing marks the end of an era for Indian business, but his contributions and legacy will continue to inspire future generations.
