Indian tycoon Ratan Tata dies at the age of 86

Indian tycoon Ratan Tata has died at the age of 86, said the Tata Group, which he led for more than two decades.

Tata was one of India’s globally recognized business leaders.

The Tata Group is one of India’s largest companies, with an annual turnover of more than $100bn (£76.5bn).

In a statement announcing Tata’s death, the current chairman of Tata Sons described him as a truly extraordinary leader.

Natarajan Chandrasekaran added: “On behalf of the entire Tata family, I extend our deepest condolences to his loved ones.

“His legacy will continue to inspire us as we strive to uphold the principles he fought so hard for.”

During his tenure as chairman of the Tata Group, the conglomerate made several high-profile acquisitions, including the Anglo-Dutch steelmaker Corus, UK-based Jaguar and Land Rover, and Tetley, a tea company. second largest in the world.

The UK Business Secretary, Jonathan Reynolds, acknowledged that Tata is “a business hub” and “has played a major role in building British industry”.

A profile published in the Economist magazine in 2011 called Tata a “titan”, crediting him with turning the family group into a “global powerhouse”.

“He owns less than 1% of the group that bears his family name. But he is a titan nonetheless: the most powerful businessman in India and one of the most influential in the world,” the magazine said.

In 2012, he retired as the chairman of the group and was appointed as the chairman of Tata Sons, the company that owns the group.

Indian Prime Minister Narendra Modi praised Tata as “a visionary business leader, a compassionate soul and a wonderful person”.

Paying tribute to X, formerly known as Twitter, Modi recounted “many interactions” with Tata and said he was “deeply saddened” by his death.

Tata – whose body lies in state at a cultural center in Mumbai to allow people to pay their respects – will be given a state funeral later on Thursday.

Tata was born into a Parsi family in 1937. He studied civil engineering at Cornell University in the US.

In 1962, he joined Tata Industries – the group’s promoter company – as an assistant and spent six months undergoing training at the company’s factory in Jamshedpur.

From there, he went to work at the Steel and Steel Company (now Tata Steel), Tata Consultancy Services (TCS) and National Radio and Electronics (Nelco).

In 1991, JRD Tata, who had led the group for more than half a century, appointed Ratan Tata to replace him. “He [JRD Tata] he was my biggest mentor… he was like a father and a brother to me – and not enough has been said about that,” Tata later told an interviewer.

In 2008, the Indian government awarded him the Padma Vibhushan, the country’s second highest honour.

Peter Casey, author of The Story of Tata, described Tata as a “modest, reserved and shy man” with a “great calmness” about him and a “fierce discipline”.

He ran into an unusual controversy in 2016, when his successor as Tata Sons chairman, Cyrus Mistry, was ousted from the role, sparking a management dispute. Mistry died in a car accident in 2022.

The wealthy businessman had a light side to him. His passion for fast cars and airplanes was well-known – the Tata group’s website describes these as some of his “most permanent possessions”.

Tata was also an avid scuba diver, a hobby that grew old “as his ears couldn’t take the pressure anymore”.

He was also a dog lover and fondly remembered the many pets that gave him company over the decades.

“My love for dogs as pets remains strong and will continue as long as I live,” the industrialist said in a 2021 interview.

“There’s an indescribable sadness every time one of my pets passes away and I decide I can’t go through another breakup like that. However, two or three years down the road, my home becomes too empty and too quiet to live without them, so- then there is another dog that gets my love and attention, like the last one,” he said.

He was often praised for his simplicity. In 2022, a video of him driving the Nano – one of the cheapest cars, now widely remembered as one of Tata’s failed dreams – went viral on social media.