Getty ImagesIndian business tycoon Ratan Tata has died at the age of 86, the Tata Group, the conglomerate he led for more than 20 years, has announced.
Tata was one of India’s most internationally recognized business leaders.
The Tata Group is one of India’s largest companies, with annual revenues of more than $100 billion (£76.5 billion).
In a statement announcing Tata’s death, Tata Sons’ current chairman described him as “a truly rare leader.”
“On behalf of the entire Tata family, I would like to express our deepest condolences to his loved ones,” Natarajan Chandrasekaran said.
“His legacy will continue to inspire us as we strive to uphold the principles he passionately championed.”
During his tenure as Tata Group chairman, the conglomerate made several high-profile acquisitions, including Anglo-Dutch steelmaker Corus, UK-based car brands Jaguar and Land Rover, and the world’s second largest tea company, Tetley. went.
A 2011 profile in The Economist called Tata a “giant” and credited him with turning his family group into a “global powerhouse.”
The magazine said: “The group that bears his family name owns less than 1% of the shares, but he is still a giant: India’s most powerful businessman and one of the world’s most influential businessmen. ” he said.
In 2012, he stepped down as group chairman and was appointed honorary chairman of the group holding company Tata Sons.
Tata was born in 1937 into a traditional Parsi family. He studied architecture and structural engineering at Cornell University in the United States.
In 1962, he joined the group’s promoter company, Tata Industries, as an assistant and was trained for six months at its factory in Jamshedpur.
From here, he went on to work for Tata Steel Company (now Tata Steel), Tata Consultancy Services (TCS), and National Radio and Electronics (Nelco).
In 1991, JRD Tata, who had led the group for over half a century, appointed Ratan Tata as his successor. “He (JRD Tata) was my biggest mentor…He was like a father and a brother to me. It’s not talked about enough,” Tata later told an interviewer. spoke.
In 2008, the Indian government awarded him the Padma Vibhushan, the country’s second highest civilian honor.
