Ratan Tata, the former chairman of the Tata Group who elevated the Indian conglomerate onto the global stage through a series of high-profile acquisitions, has passed away at the age of 86, according to a statement from the Tata Group late Wednesday.
Tata had been in intensive care at a Mumbai hospital, as reported by sources familiar with his condition. He led the Tata Group for over 20 years, taking the helm in 1991 after his uncle JRD Tata stepped down, coinciding with a pivotal period of economic reforms in India.
After earning a degree in architecture from Cornell University, Tata began his career in 1962 with the company founded by his great-grandfather nearly a century earlier. He worked across several Tata enterprises, including Tata Motors and Tata Steel, and made significant contributions to National Radio & Electronics Company by turning losses into profits.
Upon becoming chairman, Tata implemented reforms that increased control over the group, introduced retirement ages for senior executives, and promoted younger leaders. He founded Tata Teleservices in 1996 and led Tata Consultancy Services to a public offering in 2004.
Recognizing the need for expansion, Tata spearheaded the group’s acquisitions abroad, including the purchase of British tea company Tetley in 2000 for $432 million and Anglo-Dutch steelmaker Corus in 2007 for $13 billion—then the largest foreign acquisition by an Indian company. Tata Motors also acquired luxury car brands Jaguar and Land Rover from Ford in 2008 for $2.3 billion.
His legacy includes pioneering projects such as the Indica, India’s first domestically designed car, and the Nano, aimed at being the world’s cheapest car. Despite its ambitious vision, the Nano struggled with safety concerns and marketing, leading to its discontinuation.
Known for his modest lifestyle and philanthropic efforts, Tata never married and was a licensed pilot who occasionally flew the company plane. He was deeply involved in philanthropy, with two-thirds of Tata Sons’ share capital held by charitable trusts.
Tata’s tenure was not without controversy, notably a public fallout following the ousting of Cyrus Mistry as chairman in 2016. Despite stepping back from the group, Tata became an influential investor in Indian startups, backing companies like Paytm and Ola Electric.
Among his accolades, he received the Padma Vibhushan in 2008, India’s second-highest civilian honor, for his remarkable contributions to trade and industry.