Ratan Tata, Chairman Emeritus of Tata Group, Passes Away at 86

• ByStartupStory     |    October 10, 2024

Ratan Tata, the Chairman Emeritus of the Tata Group and one of India’s most iconic business leaders, passed away on October 9, 2024, at the age of 86. Tata, who was undergoing treatment for age-related ailments, breathed his last at Mumbai’s Breach Candy Hospital. Tata Sons chairman N Chandrasekaran confirmed the news in an official statement.

“It is with a profound sense of loss that we bid farewell to Mr. Ratan Naval Tata, a truly uncommon leader whose immeasurable contributions have shaped not only the Tata Group but also the very fabric of our nation… On behalf of the entire Tata family, I extend our deepest condolences to his loved ones,” Chandrasekaran said.

Ratan Tata had been admitted to the intensive care unit (ICU) at Breach Candy Hospital following a sudden decline in his health, which included a sharp drop in blood pressure, according to India TV.

National Leaders and Industry Icons Pay Tribute

Prime Minister Narendra Modi expressed his grief, stating, “Extremely pained by his passing away. My thoughts are with his family, friends, and admirers in this sad hour. Om Shanti.”

Harsh Goenka, Chairperson of the RPG Group, also mourned Tata’s death, tweeting, “The clock has stopped ticking. The Titan passes away. #RatanTata was a beacon of integrity, ethical leadership and philanthropy, who has imprinted an indelible mark on the world of business and beyond. He will forever soar high in our memories. R.I.P.”

Anand Mahindra, Chairman of the Mahindra Group, shared his sentiments on social media: “I am unable to accept the absence of Ratan Tata. With him gone, all we can do is to commit to emulating his example. Because he was a businessman for whom financial wealth and success was most useful when it was put to the service of the global community. Goodbye and Godspeed, Mr. T.”

A Life Dedicated to the Tata Legacy

Ratan Tata was born on December 28, 1937, to Naval and Soonoo Tata. He was raised by his grandmother, Navajbai R Tata, in Mumbai. After completing his education at the Campion School and Cathedral and John Connon School, Tata pursued a degree in Architecture from Cornell University in 1962. He briefly worked in Los Angeles before returning to India later that year to join the Tata Group.

Ratan Tata’s journey within the Tata Group began in 1962, and by 1971, he was appointed as the director-in-charge of the National Radio and Electronics Company Limited. Ten years later, in 1981, he became the chairman of Tata Industries. By 1991, he had taken over as chairman of Tata Sons, the holding company of the Tata Group.

During his tenure as chairman, Tata spearheaded the conglomerate’s global expansion, increasing its revenues from $5.7 billion in 1991 to nearly $100 billion by 2012, when he stepped down. Under his leadership, the Tata Group acquired high-profile global brands like Tetley, Corus, Jaguar Land Rover, and Daewoo, among others.

Tata’s contributions to the Indian business landscape earned him the Padma Vibhushan, India’s second-highest civilian honor, in 2008.

A Strong Influence on the Indian Startup Ecosystem

Ratan Tata was also a prominent figure in the Indian startup ecosystem. In 2014, he made his first investment in Snapdeal, marking the beginning of his involvement in startups. His backing of early-stage ventures like Paytm, Ola, Urban Company, and CureFit showcased his deep belief in Indian entrepreneurship.

In a 2021 interview, Tata spoke about his fascination with startups, describing his investments as a “learning experience.” He emphasized his belief in founders’ vision and commitment, stating that he was particularly drawn to entrepreneurs who were passionate about building something sustainable and impactful.

Over the years, Ratan Tata invested in over 50 startups and became a mentor and guide to new-age entrepreneurs. His influence went beyond financial support, as many in the industry looked up to him for his sharp business acumen and philanthropic values.

The Nation Mourns a Business Icon

Ratan Tata’s passing leaves a significant void in India’s business landscape. His life and work have left an indelible mark on the country’s industry, governance, and philanthropy. As India mourns the loss of one of its most celebrated business leaders, Ratan Tata’s legacy will continue to inspire generations to come.

His contributions to Indian society and global business will remain unmatched, and his absence will be deeply felt across the world of business and beyond.

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