Ratan Tata, who ran the Indian conglomerate Tata Group for more than 20 years as chairman, died in a Mumbai hospital on Wednesday aged 86.
“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,” Natarajan Chandrasekaran, chairman of Tata Sons and Tata Group, said in a statement. He praised Mr Tata as a “mentor, guide and friend”.
“He inspired by example,” Mr Chandrasekaran said. “With an unwavering commitment to excellence, integrity and innovation, the Tata Group under his stewardship expanded its global footprint while always remaining true to its moral compass.”
Tata Group is one of the largest companies in India. Last year, the revenue of Tata companies exceeded $165 billion and collectively employed more than 1 million people, according to the company.
India Prime Minister Narendra Modi called Mr Tata a visionary business leader, a compassionate soul and an extraordinary human whose contributions to one of India's most prestigious businesses extended beyond the boardroom.
“He endeared himself to several people thanks to his humility, kindness and an unwavering commitment to making our society better,” Mr Modi said on X.
Mr Tata graduated with a degree in architecture at Cornell University before returning to India in 1962, where he began working at Telco (now Tata Motors) on the shop floor.
He took over Tata Sons in 1991 when JRD Tata resigned as chairman. Mr Tata consolidated power by implementing a retirement age and increasing control over companies.
He made a series of acquisitions that turned the company from a traditional Indian powerhouse to a global enterprise. The acquisitions included auto brands Jaguar and Land Rover for $2.3 billion in 2008, steel maker Corus for $13 billion in 2007 and British tea company Tetley for $432 million in 2000.
He also helped to introduce the Tata Indica, the first vehicle model designed and built in India, in 1998, to success.
Indian businessman Anand Mahindra, chairman of the Mahindra Group, said Mr Tata's legacy played a key role in helping India's economy to stand “on the cusp of a historic leap forward”.
“Hence, his mentorship and guidance at this point in time would have been invaluable,” Mr Mahindra wrote on X.
Mr Tata received the Padma Vibhushan, India's second-highest civilian honour, in 2008 for exceptional and distinguished service. He received the Padma Bhushan, the country's third-highest civilian honour, in 2000.
Mr Tata first resigned from the group in 2012 after turning 75, before being made interim chairman in 2016 after the controversial removal of Cyrus Misty. A selection team, which included Mr Tata, named Mr Chandrasekaran the new chairman in January 2017.
Mr Tata was also considered one of the largest philanthropists in India. Two-thirds of Tata Sons is held by philanthropic trusts that support education, health, livelihood generation and arts and culture, the company said.
The Tata Group also donated $50 million to the Harvard Business School and helped to provide funds to other educational institutions including the Indian Institute of Technology, Mumbai and the University of California, San Diego.
One of his final pet projects was the Small Animal Hospital in Mumbai, which was established in July and covers more than 9,200 square metres.
In a statement, his family said they take comfort in the outpouring of love and respect his admirers have shown him. “While he is no longer with us in person, his legacy of humility, generosity and purpose will continue to inspire for generations,” they said.
