Industry giant Ratan Tata will be cremated with full state honours after passing away on Wednesday at the age of 86 in a Mumbai hospital. In addition, Eknath Shinde, the chief minister of Maharashtra, declared a day of mourning for the renowned philanthropist and businessman on Thursday. As a sign of respect, all Maharashtra government offices will fly the national flag at half-mast. Numerous Thursday-related activities have been cancelled.
Today from 10 am to 4 pm, Ratan Tata’s body will be on display at the National Centre for Performing Arts (NCPA) at Mumbai’s Nariman Point, where visitors may pay their final respects. Later in the day, the cremation will happen in the Worli neighbourhood. As Prime Minister Narendra Modi departed for Laos to attend the ASEAN-India and East Asia summits, Home Minister Amit Shah will attend the burial.
With his passing, Mr Tata has brought an end to a chapter in Indian corporate history, one in which he transformed the industrial landscape of his nation and turned his family-run conglomerate into a major player on the world stage.
Mr Tata lives a modest life while being the head of over thirty businesses with operations in more than 100 nations on six continents. He was a man of modest integrity and decency who never made it onto lists of billionaires, even in spite of his enormous wealth and influence.
Mr. Tata was born on December 28, 1937, in Mumbai. His family was one of the most prominent business families in India. His father, Jamsetji Tata, was the great-grandson of the man who founded the Tata Group, a conglomerate of businesses that included steel, salt, cars, software, and even aeroplanes. The corporation started as a small trade concern in 1868.
Mr. Tata’s early experiences with both luxury and adversity influenced him. When he was a little boy, his parents divorced, and he was reared by his grandmother, Lady Navajbai Tata. Before going to the US for further study, he attended the renowned Cathedral and John Connon School in Mumbai. After attending Cornell University, Mr. Tata graduated in 1962 with a Bachelor of Science in Architecture.
Later, he enrolled in Harvard Company School’s Advanced Management Program, but after returning to India in the early 1960s to work in the family company, his ambition to pursue an architectural career was shelved. He was employed at Tata Steel’s Jamshedpur factory on the shop floor. His future leadership style would be largely shaped by this experiential learning methodology.
He was named director-in-charge of National Radio and Electronics Company (Nelco), a financially troubled Tata Group company, in 1971. However, despite his best efforts, the company’s fortunes could not be turned around in the economic context of the 1970s.
Mr Tata replaced his illustrious uncle JRD in 1991. Tata, who serves as the Tata Group chairman. As the conglomerate’s towering leader of more than 50 years, JRD, Mr. Tata encountered scepticism from both inside and beyond the company. But he quickly disproved many who had doubted him.
Additionally, 1991 saw India abandon its protectionist policies and liberalise its economy. Seizing the opportunity, Mr Tata guided the Tata Group into a new phase. The organisation used contemporary management techniques, technical innovation, and worldwide expansion under his direction.
Mr. Tata gained notoriety in 2000 when he paid $431.3 million to acquire Tetley Tea, a British tea producer. This was the group’s first significant overseas acquisition. Tata’s next major venture was the $102 million purchase of Daewoo Motors’ South Korean truck manufacturing facilities in 2004. However, the 2007 acquisition of the Anglo-Dutch steelmaker Corus Group was the crown jewel of Tata’s business. With this $11.3 billion deal, Tata Steel became the fifth largest steelmaker globally and became one of the largest offshore acquisitions by an Indian corporation.
In 2008, Tata Motors acquired British luxury car brands Jaguar and Land Rover for $2.3 billion, leading to a renaissance of JLR. Ratan Tata’s personal project, the Tata Nano, made automobile ownership affordable for millions of Indians. Tata’s philanthropy was largely channelled through the Tata Trusts, which control a majority of shares in Tata Sons, the holding company of the Tata Group. He expanded the group’s influence across sectors, including steel, automotive, and information technology.
Tata Sons chairman, Mr. Tata, stepped down in 2012 but remained involved in mentoring young entrepreneurs and investing in start-ups. His death has sparked grief and tributes from Prime Minister Narendra Modi and business leaders.
