Ratan Naval Tata: 28 December 1937 - 9 October 2024
Ratan Naval Tata, a highly esteemed businessman and the former chairman of Tata Trusts, which oversees Tata Sons, passed away on October 9, 2024, at Breach Candy Hospital in Mumbai.
Tata’s unwavering commitment to philanthropy and societal development profoundly impacted millions. His initiatives in education, healthcare, and social welfare have left an enduring legacy, ensuring benefits for generations to come. Chandrasekaran, the current chief of Tata Sons, reflected on Tata's genuine humility, stating, “Mr. Tata’s dedication to philanthropy has touched lives deeply, and his humility shone through in every interaction.”
Prime Minister Narendra Modi expressed his condolences on social media, describing Tata as a “visionary leader, compassionate soul, and extraordinary human being.” He praised Tata’s stable leadership of one of India’s oldest and most respected business houses and emphasized the warmth and kindness that endeared him to many.
Upon joining the Tata Group, Ratan Tata quickly set about reorganizing the company, which had revenues of $5.9 billion at the time. His decisive leadership included significant changes in management, a move that was instrumental in repositioning the group for future success.
In the early 2000s, Tata embarked on an ambitious international expansion, leading to substantial investments of $15 billion in acquiring brands like Tetley Tea, Jaguar Land Rover, and Corus Group, the Anglo-Dutch steelmaker. By the time of his retirement in 2012, at the age of 74, the Tata Group's revenue had soared to $100 billion.
Renowned for his pioneering spirit, Tata was unafraid to take bold risks that solidified the Tata brand in Indian households and established its presence on the global stage. His legacy includes the successful reacquisition of Air India, India’s flagship airline, in January 2022.
A landmark achievement for the Tata Group was the public offering of Tata Consultancy Services (TCS) in 2004, which has since become the largest IT services company in India, contributing 90 percent of Tata Sons’ total profits and generating over $4 billion in annual dividends. Tata was also instrumental in modernising corporate governance in India; in 2005, TCS was selected by the Ministry of Corporate Affairs to implement an e-governance project that streamlined corporate filings, making Tata the first businessman to receive a unique eight-digit identification number.
Ratan Tata’s profound influence on business, philanthropy, and society will be remembered as a remarkable chapter in India’s history.