Ratan Tata, one of India’s most influential and revered business leaders, died on Wednesday in Mumbai at the age of 86. Under the patriarch’s astute leadership, the Tata Group grew into a global business powerhouse, leaving an indelible mark on Indian industry and society.
Under him, Tata Group expanded manifold. During his tenure as chairman from 1991 to 2012, the company’s profits increased 50-fold. Tata brands became well-known globally: Jaguar cars, Land Rover vehicles, and Tetley tea. However, none of this appeared to dilute the role Tata played in India. Millions of Indians use some sort of Tata product every day-from Tata tea to Tata cars and Tata Sky television services.
The leadership of Ratan Tata was never confined to business success alone but was entrusted to the integrity, humility, and social responsibility he had envisioned for the values of the nation. Rare among corporate leaders, he was deeply committed to philanthropy. He donated a large part of his fortune to causes like education, healthcare, and poverty alleviation in India. He also supported young entrepreneurs and startup businesses. Much respect flowed his way, not because of his business acumen but because of his genuine care for society.
It further perpetuated the image of Mr. Tata as an entrepreneurial person with a conscience, with a majority of the stakes held by philanthropic trusts. The trusts ensured that the profits went to benefit society at large rather than the shareholders alone.
His personal life was subdued, and Ratan Tata never married, and lived simply, though he was one of the most powerful men in India. Being an extremely shy person, he used to avoid staying in the limelight. He used to drive sports cars, fly planes, and race speedboats during his free time. He was a man who loved simplicity- indeed, he lived a purposeful life.
Ratan Tata was born in Mumbai on December 28, 1937, under British rule. Coming from an influential Parsi family that gained its wealth in diverse industries like textiles and steel. Ratan Tata grew up in a sumptuous residence Tata Palace- in Mumbai and was educated in the U.S. He attended the Riverdale Country School in New York. Then he joined Cornell University and took up a course in architecture. He also enrolled at Harvard University Business School for management courses.
Mr Tata joined the Tata Group in 1962, starting on the shop floor at Tata Steel. He worked his way up through various roles, eventually becoming chairman in 1991. His tenure has not been without hiccups. For the first several years, many people questioned the ability of a group that was not part of the direct line of the Tata family to lead. But he won them soon and began modernizing the group.
He did face a major early setback with Tata’s electronics subsidiary Nelco, which underperformed during an economic downturn, but he continued to forge ahead. At his helm, Tata undertook bold initiatives with the acquisition of British firms like Jaguar, Land Rover, and Tetley Tea. These acquisitions marked the second wave of Tata’s global expansion.
Tata Group revealed the Tata Nano, then the world’s cheapest car, in 2008. For the first time, middle-class Indians could afford to travel by car, while Tata evidenced its commitment to social good.
His leadership also waded through some controversies. In 2016, he became the center of a highly publicized storm during his courtroom tussle with his chosen successor, Cyrus Mistry. The dispute over Mistry’s removal from the helm of affairs in the company created several courtroom dramas and captured the headlines for years. Mr. Tata never lost the aura of integrity that surrounded him, however, with the courts eventually ruling in favor of the man.
Even in his later years, Mr. Tata continued investing in new projects. He invested in more than 50 startup companies, most of them from the digital and e-commerce sectors. One of his latest projects, Goodfellows, aimed to create bonds between senior and young Indians in business and other professions.
Ratan Tata, on the other hand, continued with his commitment to business and philanthropy until later in life. India and the world will remember his service. The Tata Group will forge ahead, always flourishing on the bedrock he built. And his legacy of compassionate leadership will inspire generations to come.
ANI
