OCTOBER 9, 2024
NEW DELHI: Ratan Tata, chairman emeritus of one of India’s biggest conglomerates Tata Group, died at 86 after prolonged illness. He was admitted to the hospital due to his age and related medical conditions.
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Prime Minister Narendra Modi mourned Ratan Tata and called him a visionary business leader, a compassionate soul and an extraordinary human being.
“Shri 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,” PM Modi said in a post on X.
“One of the most unique aspects of Shri Ratan Tata Ji was his passion towards dreaming big and giving back. He was at the forefront of championing causes like education, healthcare, sanitation, animal welfare to name a few,” he added.
Ratan Tata’s legacy – Ratan Tata, who is also known for his charitable work, served as the chairman of the Tata Group from 1991 to 2012. During his tenure, he made significant contributions to the conglomerate founded by his great-grandfather over a century ago.
In 1996, Tata established Tata Teleservices, the telecommunications arm of the group, and in 2004, he led the initial public offering of Tata Consultancy Services, the group’s IT company.
After stepping down as chairman in 2012, Tata retained the honorary title of chairman emeritus for several Tata companies, including Tata Sons, Tata Industries, Tata Motors, Tata Steel, and Tata Chemicals.
Tata was awarded two of India’s highest civilian honors: the Padma Bhushan in 2000 and the Padma Vibhushan in 2008.
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One of India’s most successful business tycoons, he is also renowned for his philanthropic endeavors. His personal involvement in philanthropy began in the 1970s with the initiation of The Aga Khan Hospital and Medical College project, which laid the foundation for one of India’s premier healthcare institutions.
After becoming the chairman of Tata Sons in 1991, Tata’s philanthropic efforts gained new momentum. He actively guided the Tata Trusts, established by his great-grandfather Jamsetji, towards addressing crucial social needs and established institutes of excellence such as the Tata Institute of Social Sciences, while also funding educational initiatives across India.
Despite his reputation for class and elegance, Tata was not immune to controversies. Although the Tata Group was not directly implicated in the 2008 scam involving the allocation of second-generation telecom licences, Tata was drawn into the controversy through leaked recordings of purported phone calls he made to lobbyist Nira Radia. However, he was not implicated in any wrongdoing.
In December 2012, Tata handed over control of Tata Sons to Cyrus Mistry, his deputy at the time. However, the owners had issues with the functioning of the first non-Tata family member, leading to Mistry’s ouster in October 2016. Ratan Tata was said to be one of the shareholders who disagreed with Mistry on several projects, including Mistry’s decision to discontinue the loss-making small car Nano, which was a pet project of Ratan Tata.
Since 2017, Tata has been the emeritus chairman of Tata Sons. During this time, he has taken on a new role, supporting young entrepreneurs of the 21st century by investing in new age tech-driven start-ups that will play a significant role in shaping the future of the country. In his personal capacity and through his investment company RNT Capital Advisors, Tata has invested in over 30 start-ups, including Ola Electric, Paytm, Snapdeal, Lenskart, and Zivame.
One wet monsoon evening not many moons ago, dog-lover Tata had decreed that any strays outside the conglomerate’s HQ in downtown Mumbai be allowed shelter. Some never left but their benefactor is no more.
Courtesy/Source:TOI / PTI
