Indian entrepreneur Ratan Tata, who transformed the group that bears his name into a global conglomerate, has died at the age of 86, the latter announced on Wednesday.
“It is with great regret that we say goodbye to Ratan Navel Tata, a truly extraordinary boss,” wrote the Tata group on X.
Indian Prime Minister Narendra Modi called Tata a “visionary business leader, a compassionate soul and an extraordinary human being.”
At the head of the family empire since 1991
Born in 1937 in Bombay, Ratan Tata wanted to become an architect and was working in the United States when his grandmother, who raised him, asked him to return home to join the family business, founded in 1868.
He cut his teeth in a Tisco workshop (now Tata Steel), near the blast furnaces, living in an apprentice hostel. He took over the family empire in 1991, riding the wave of liberal reforms that India was then implementing.
Tata’s twenty-one years at the helm of this salt-to-steel conglomerate saw the group expand to include British luxury car brands such as Jaguar and Land Rover.
“A brand that will benefit generations to come”
The hard-core bachelor retired in 2012, but then kept an eye on his empire, even taking over the business for a few months four years later. He has since been honorary president.
Companies in the Tata empire achieved more than $165 billion in revenue in 2023-24, surpassing $365 billion in market capitalization at the end of the financial year at the end of March.
The Tata Group said its philanthropic work had “touched the lives of millions”. “From education to healthcare, his initiatives have left a profound mark that will benefit generations to come,” he added.
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