Ratan Tata, titan of Indian business and philanthropist icon, dies at 86

Ratan Tata death: Ratan Tata, a visionary industrialist and chairman emeritus of Tata Sons, died on Wednesday. He had been undergoing treatment for the past few days.

In Short

• Ratan Tata died at a Mumbai hospital on Wednesday night
• He had been undergoing treatment for the last few days
• PM pays tribute to Ratan Tata, calls him ‘extraordinary human being’

Ratan Naval Tata, a legend of the Indian industry and chairman emeritus of the Tata Group, died late Wednesday night at the age of 86. He had been undergoing treatment for prolonged illness at Mumbai’s Breach Candy Hospital for the last few days.

“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,” Tata Sons Chairman N Chandrasekaran said in a statement.

Calling the tycoon "a mentor, guide and friend", Chandrasekaran said that Ratan Tata was "more than a chairperson for the Tata Group".

"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 added.

Chandrasekaran said Ratan Tata's dedication to philanthropy touched the lives of millions. "From education to healthcare, his initiatives have left a deep-rooted mark that will benefit generations to come," the Tata Sons chairman added.

Prime Minister Narendra Modi paid tribute to Ratan Tata, calling him "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," PM Modi said.

Congress MP Rahul Gandhi also condoled his death. "Ratan Tata was a man with a vision. He has left a lasting mark on both business and philanthropy," Rahul Gandhi tweeted.

STATE FUNERAL FOR RATAN TATA

Ratan Tata would be accorded state funeral, Maharashtra Chief Minister Eknath Shinde said, declaring a day of mourning in the state to pay tribute to the legend.

Tata's body will be kept at the National Centre for Performing Arts (NCPA) in south Mumbai's Nariman Point from 10 am to 4 pm on Thursday for people to pay their respects. At 3.30 pm, his body will be taken to the Worli crematorium for last rites.

'THANK YOU FOR THINKING OF ME'

In his last social media post on October 7, Ratan Tata thanked everyone for thinking of him as he dismissed reports regarding his health. He said that he remained in "good spirits" and was undergoing medical check-ups for his age and related medical conditions.

ARCHITECT OF TATA GROUP's GLOBAL EXPANSION

The business tycoon had led the transformation of the Tata Group into a global powerhouse through several high-profile acquisitions.

After earning a degree in architecture from Cornell University, Ratan Tata returned to India in 1962 to join the company founded by his great-grandfather. Throughout his career, he contributed significantly to several Tata companies, including Tata Motors and Tata Steel. His leadership was particularly impactful in turning around National Radio & Electronics Company.

In 1991, Ratan Tata took over as chairman from his uncle JRD Tata, at a time when India was opening its economy to the world.

One of his early actions as chairman was to implement reforms within the Tata Group, focusing on succession planning, bringing in younger talent, and tightening control over the businesses.

Ratan Tata’s legacy is marked by the group’s global expansion, including the acquisition of iconic international brands. Under his leadership, Tata acquired British tea company Tetley in 2000, Corus Steel in 2007, and Jaguar and Land Rover in 2008.

His vision also extended to the development of Tata Motors’ Indica, the first Indian-designed car, and the Nano, a car intended to be the most affordable in the world.

The government honoured Ratan Tata with its second-highest civilian award, the Padma Vibhushan, in 2008. He was also appointed Knight Grand Cross of the Most Excellent Order of the British Empire and was conferred the Lifetime Achievement Award by the Rockefeller Foundation.