Ratan Tata (1937-2024): A corporate giant who was guided by his heart

Ratan Tata (1937-2024): A corporate giant who was guided by his heart

Mangalore Today / Deccan Herald

By Arup Roychoudhury

New Delhi, October 10, 2024: Ratan Tata was not an unsentimental, profit-driven, corporate czar. Indeed, as the long-serving chairman and then the Chairman Emeritus of India’s largest conglomerate Tata Sons, he enabled some decisions guided more by the heart than by the head. There were commitments which were purely emotional.

Take the example of Tata Nano, which was supposed to make India a country of car owners, but ultimately sold only around 300,000 units. Or Air India. Pure business sense would tell you not to buy a debt-laden company which operates in a very challenging sector. But for him, it was about bringing a family jewel founded by uncle JRD Tata, home.

But it is these qualities that made Tata, who died in Mumbai late on Wednesday night at the age of 86, one of India’s most admired and respected figures.

“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,” said Tata Sons Chairman N Chandrasekaran, in a statement shortly after Tata’s death.

Tata was under intensive care in a Mumbai hospital.

On social media platform X, Prime Minister Narendra Modi described Tata as “a visionary business leader, a compassionate soul and an extraordinary human being”.

Born in December 1937, Tata completed his education at Cornell University and joined one of the Tata subsidiaries in the 1970s. He worked in several Tata companies, including Tata Motors as well as Tata Steel. His time as Chairman of Tata Sons began in 1991, thus coinciding with the start of liberalisation.

Under his leadership, Tata went from an Indian family-owned corporate business to a global conglomerate with a presence in more than 100 countries. He spearheaded expansion through several notable acquisitions, starting with Tata Tea buying Tetley in 2000.

Over the following years, Tata Motors bought Jaguar-Land Rover and Daewoo Commercial Vehicles, Tata Steel acquired Corus, NatSteel among others, and Tata Chemicals bought Brunner Mond, among many other acquisitions. The acquisition of Corus, for $13 billion in 2007, was at the time the biggest takeover of a foreign firm by an Indian company.

Awarded the Padma Bhushan in 2000 and Padma Vibushan in 2008, Tata was also regarded as one of the largest philanthropists in the world.

Apart from the Nano, his other memorable automotive project was the Indica, the first car completely designed and built in India.

A licensed pilot who would occasionally fly the company plane, Tata never married and was known to live a relatively modest life.

After stepping back from corporate duties, Tata also invested in several Indian startups, including Paytm, Ola Electric, and Urban Company.

Ratan Tata was not an unsentimental, profit-driven, corporate czar. And that was a good thing for India.

"His contribution to charity is invaluable"- President Murmu

President Droupadi Murmu offered her condolences on Thursday to the family of businessman Ratan Tata.

Mr Tata, Chairman Emeritus, Tata Sons, passed away at Breach Candy Hospital in Mumbai on Wednesday evening.

Paying her tributes to the business titan in a post on X, President Murmu said, "In the sad demise of Ratan Tata, India has lost an icon who blended corporate growth with nation building, and excellence with ethics."

President Murmu highlighted Tata’s contributions to philanthropy and charity calling them as "invaluable."

In the sad demise of Shri Ratan Tata, India has lost an icon who blended corporate growth with nation building, and excellence with ethics. A recipient of Padma Vibhushan and Padma Bhushan, he took forward the great Tata legacy and gave it a more impressive global presence.

"He inspired seasoned professionals and young students alike. His contribution to philanthropy and charity is invaluable," she said.

"I convey my condolences to his family, the entire team of the Tata Group and his admirers across the globe," the post added.

Prime Minister Narendra Modi offered condolences on the demise of Ratan Tata

Earlier, Prime Minister Narendra Modi offered condolences on the demise of Ratan Tata and said he was "extremely pained" by his passing away.

"Ratan Tata Ji was 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. Extremely pained by his passing away. My thoughts are with his family, friends and admirers in this sad hour. Om Shanti," PM Modi said in a post on X.

Mr Tata, born on December 28, 1937, in Mumbai, was the Chairman of Ratan Tata Trust and Dorabji Tata Trust, two of the largest private-sector-promoted philanthropic trusts in India. He was the Chairman of Tata Sons, the holding company of the Tata Group, from 1991 until his retirement in 2012.

He was honoured with the country’s second-highest civilian award, the Padma Vibhushan, in 2008.