Ratan Tata, the honorary chairman of Tata Sons and a prominent figure in India’s oldest business group, has passed away at the age of 86 in Breach Candy Hospital, Mumbai. He was admitted to the hospital on Wednesday.
During his tenure, Ratan Tata, who received the prestigious Padma Bhushan and Padma Vibhushan awards, led the Tata Group in launching the country’s most affordable car and recently acquired the financially troubled Air India in a cash transaction valued at 18,000 crores. Despite his significant business achievements, Ratan Tata was known for his simplicity, choosing to live in a modest apartment in Mumbai.
Parents separated in childhood
Ratan Tata was born on December 28, 1937, to Naval and Soonu Tata, and he was the great-grandson of Jamshedji Tata, the founder of the Tata Group. He belonged to a Parsi family. His parents separated during his childhood, and he was raised by his grandmother. In 1991, Ratan Tata became the chairman of the Tata Group.
Throughout his life, Ratan Tata came close to marriage on four occasions. He once nearly married while he was in America, but his grandmother called him back home. Due to the outbreak of the Indo-China war, he was unable to return to America, and eventually, the girl he was interested in married someone else.
Succeeded J.R.D. Tata as the head of the group in 1991
Ratan Tata joined the family business in 1962, starting his career on the shop floor of Tata Steel. He steadily advanced through various management positions, and in 1991, he succeeded J.R.D. Tata as the head of the group.
In 2012, upon reaching the age of 75, Ratan Tata stepped down from his executive roles. During his 21 years of leadership, the Tata Group saw its profits increase fifty-fold, with a significant portion of revenue generated from international sales of well-known Tata products, including Jaguar-Land Rover vehicles and Tetley tea.
After stepping down as chairman, he appointed 44-year-old Cyrus Mistry as his successor. His family was the largest individual shareholder in the group. However, over the next few years, tensions grew between Mistry and Tata.
In October 2016, after less than four years, Mistry was ousted from Tata's board with the full support of Ratan Tata. Tata stepped down as chairman until the name of the new successor was announced in February 2017.
After retirement devoted time to hobbies
From a young age, Tata preferred minimal conversation, focusing primarily on formal and important topics. He was an avid reader, particularly drawn to success stories. In an interview, he mentioned that after retirement, he devoted more time to his hobbies, which included a fondness for music from the 60s and 70s.
When it came to cars, Tata expressed a strong passion for them, stating, "I have a fondness for both old and new cars. I have a deep interest in their styling and mechanisms. That is why I buy them, so that I can study them."
A memorable dinner
Shantanu Naidu, a 30-year-old general manager at Tata Group and considered one of Ratan Tata's closest associates, shared various insights about Tata's personality. He recounted a memorable dinner they had together.
On that occasion, Tata drove the car himself and took Shantanu to the 'Thai Pavilion' in Mumbai. During dinner, Shantanu asked Tata if he would attend his graduation ceremony, to which Tata replied that he would do his best—and he indeed made it.
Shantanu also recalled their first meeting, which took place when he was preparing to go to America for an MBA at Cornell University. Noticing Shantanu's injury, Tata jokingly asked, "Did a dog bite you?" He quickly realized the inappropriateness of the joke and immediately apologized, acknowledging it was a poor choice of words.
Was deeply involved in the Tata Trust
Ratan Tata was deeply involved in the Tata Trust, the philanthropic arm of the group. This arm of the Tata Group works in sectors like education, healthcare and rural development.
Throughout his career, Ratan Tata made it a point to ensure that 60-65% of the dividend of Tata Sons is used for charitable causes. Ratan Tata donated Rs 500 crore to fight the COVID-19 pandemic.
Ratan Tata donated $50 million to Harvard Business School, where he studied, to set up an executive center. His contributions have earned him global respect, further enhancing his legacy as a philanthropist and visionary.
Not just the loss of a business icon
Ratan Tata’s passing is not just the loss of a business icon; it is the loss of a visionary leader who prioritized social good alongside corporate success. His life’s work was dedicated not only to growing the Tata Group but also to improving the lives of countless individuals through philanthropy. Tata’s legacy will continue to inspire generations of business leaders and social entrepreneurs, both in India and around the world.
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