Mumbai, January 12, 2025 - Esteemed industrialist and legendary figure in Indian business, Ratan Tata, has passed away at the age of 86 in a Mumbai hospital. His demise marks an irreparable loss for the Indian industrial sector. Due to age-related health issues, he was admitted to Breach Candy Hospital and was in the Intensive Care Unit due to his critical condition.
Ratan Tata played a pivotal role in establishing Indian industry on the global stage. For his significant contributions to industry, he was awarded the Padma Bhushan in 2000 and the Padma Vibhushan in 2008 by the Government of India. Not only in India but globally, he was a well-respected industrialist. From prominent industrialists worldwide to notable leaders, he was always held in high regard for his work and dedication. He was honored with the Order of Australia and the British Government's Knight Grand Cross title. Born on December 28, 1937, in a Parsi family, Ratan Tata was the grandson of Tata Group founder Jamsetji Tata. His childhood was challenging due to his parents' separation when he was just seven and his younger brother Jimmy was five, resulting in their upbringing by their grandmother Navajbai Tata.
Ratan Tata began his schooling in Mumbai at Campion School and completed it at Cathedral and John Connon School. He graduated in architecture from Cornell University in 1962 and obtained an advanced management degree from Harvard University in 1975. Additionally, he was a member of the Alpha Sigma Phi fraternity.
Returning to India in 1962, Ratan Tata declined a job offer from IBM and started his career at Tata Steel in Jamshedpur, working on the shop floor alongside other daily wage workers. In 1971, he was appointed Chairman of National Radio and Electronics (NALCO), which was running at a 40% loss and had only a 2% market share. Under his leadership, NALCO's market share grew to 25%, but the emergency and weak economic policies in 1977, along with labor issues, brought NALCO back to its original state. Again, in 1977, he was entrusted with turning around the ailing Empress Mills and successfully ran the operations, but a lack of ₹50 lakh for competitiveness led to its closure in 1986.
In 1981, J.R.D. Tata retired from Tata Industries' top post and named Ratan Tata as his successor. Despite facing severe criticism for his lack of experience, Ratan Tata proved his mettle. In 1991, he took over as Chairman of the Tata Group, and during his tenure, acquisitions of companies like Tetley, Jaguar, Land Rover, and Corus were made, elevating Tata to a global brand (with nearly 65% of revenues from foreign markets). His time also saw the development and progress of popular cars like Indica and Nano. The economic liberalization post-1990 credited Ratan Tata for all the successes of the Tata Group of Companies.
In August 2007, under his leadership, the Tata Group's acquisition of British steel company Corus marked the largest-ever takeover of a foreign company by an Indian firm, making Tata Steel the world's fifth-largest steel producer. Recently, Air India, established by J.R.D. Tata, returned to the Tata Group, a moment of immense joy for Ratan Tata, which he shared on social media.
