Tata is recognized as "a truly uncommon leader" and is credited with turning the Tata Group into a multinational corporation.
Ratan Tata, the 86-year-old Indian business magnate and former chairman of the Tata Group, passed away.
Reuters said that Tata, who oversaw the biggest conglomerate in India for more than two decades, was undergoing critical treatment at a hospital in Mumbai.
He was well-known for his massive purchases, which included the $432 million purchase of the British tea business Tetley in 2000 and the $13 billion purchase of the Anglo-Dutch steelmaker Corus in 2007, which at the time was an unparalleled acquisition of a foreign company by an Indian corporation. Then, Tata Motors bought British Jaguar and Land Rover, two of the most recognizable auto brands in Britain, from Ford Motor Co.
"We bid farewell to Mr. Ratan Naval Tata, a truly remarkable leader whose immeasurable contributions have shaped not exclusively the Tata Group but also the very fabric of our nation," the business stated, expressing its deep sorrow over his passing.
Indian Prime Minister Narendra Modi called Tata "a visionary business leader, an sympathetic soul, and an extraordinary human being."
"On behalf of the entire Tata family, I extend our sincerest sympathies to his loved ones," said Natarajan Chandrasekaran, currently serving chairman of Tata Sons, in a statement announcing Tata's passing. We will be motivated by his legacy to maintain the values he so fervently supported in our endeavors.
Tata returned to his native India in 1962, having graduated with a degree in architecture from Cornell University in the United States, and started working for the business that his great-grandfather had started over a century before.
When Ratan Tata succeeded his uncle JRD Tata thirty years later, he ushered in a period of rapid expansion and a global perspective. By imposing retirement ages and elevating young individuals to top positions, he upended the company's structure.
The Indica was the first vehicle type to be developed and manufactured in India, and it was overseen by Tata. In addition, he contributed the first concepts for both models and directed the design of the Nano, which was marketed as the cheapest vehicle in the world.
Commercially, the Indica proved successful. However, a lackluster marketing effort and safety concerns led to the Nano's discontinuation. Tata's goal of creating an inexpensive automobile for every Indian was dashed by it.
He was well-known for being quiet, humble, and an animal lover. He also had a pilot's license. In a 2021 interview, the businessman said, "My love for dogs as pets is ever powerful and is going to continue for as long as I live." He never got married.
Every time one of my dogs dies, I experience an unfathomable sense of loss and swear I would never experience another such loss. However, after two or three years, my house is too quiet and empty for me to live without them, so I buy another dog who receives the same amount of love and care as the last one.
The second-highest civilian honor in India, the Padma Vibhushan, was given to him by the government in 2008.
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