Ratan Tata, the former chairman of the Tata Group, passed away at the age of 86, the company announced in a statement on Wednesday. Tata, who had been receiving intensive care treatment in a Mumbai hospital, was remembered as an extraordinary leader whose immeasurable contributions shaped not only the Tata Group but also the nation.
Prime Minister Narendra Modi expressed his profound sadness at Tata's passing, describing him as "a visionary business leader, a compassionate soul and an extraordinary human being."
Ratan Tata assumed leadership of the conglomerate in 1991 from his uncle JRD Tata, just as India embarked on radical economic reforms that opened up the country to the world and ushered in an era of high growth.
Under Tata's leadership, the group expanded its reach beyond Indian shores, acquiring British tea firm Tetley in 2000 for $432 million and Anglo-Dutch steelmaker Corus in 2007 for $13 billion, which was the biggest takeover of a foreign firm by an Indian company at the time. Tata Motors also acquired British luxury auto brands Jaguar and Land Rover from Ford Motor Co in 2008 for $2.3 billion.
Watch: Ratan Tata - Moving the Tata Group beyond India Tata's pet projects at Tata Motors included the Indica, "the first car model designed and built in India," as well as the Nano, "touted as the world's cheapest car." He contributed initial sketches for both models. While the Indica was a commercial success, the Nano faced challenges due to initial safety issues and marketing missteps, leading to its discontinuation a decade after its launch.
Tata pioneered commercial aviation in India when it launched an airline in 1932 that later became Air India. The government later took it over.
Tata Group bought state-owned Air India in 2021. It also started a full-service carrier, Vistara, with Singapore Airlines, but recently merged it with Air India.
Tata companies include Tata Steel, Tata Motors, Tata Power and the information technology company Tata Consultancy Services.
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