Ratan Tata: ‘Guide and friend’ of global business mourned after lifetime of industry

India's veteran industrialist died on Wednesday, at the age of 86

People pay tribute to Indian business leader Ratan Tata in Mumbai, during a wake. EPA

India is mourning the loss of one of its most internationally recognised business figures, Ratan Tata, who died on Wednesday at the age of 86.

Those who knew and worked with the industrialist – who was chairman of the Tata Group for more than two decades – say that it was not only his shrewd business sense that generated enormous respect, but also his strong sense of ethics and calm and generous character.

“He was the most humble person that you could meet,” recalls Neha Singh, who says she will never forget sitting down with him at Tata's headquarters in Mumbai in 2016, when as a young entrepreneur she approached him to invest in her data start-up Tracxn.

“He had been like a legend for a lot of us growing up and he sort of personifies this larger than life persona. We were obviously a bit nervous and not sure what to expect.”

But his calm demeanour and curiosity about the start-up – in which he became an angel investor – put her at ease, says Ms Singh.

In recent years, Mr Tata had been more focused on investing and philanthropic work, having stepped back from the day-to-day running of the Tata Group in his old age.

(FILES) Chairman of India's Tata Motors, Ratan Tata watches during the unveiling of the Tata Megapixel on March 6, 2012, during a press day ahead of the 82nd Geneva Motor Show in Geneva. Tata, who is credited with transforming the Tata Group into a globally renowned conglomerate, has died at age 86, the company said late on October 9, 2024. (Photo by Fabrice COFFRINI / AFP)

Mr Tata, right, at the UK-India CEO Forum chaired by then-British prime minister David Cameron at Downing Street in 2011. AFP

Mr Tata in the backseat of a US Navy Super Hornet plane at the Aero India 2007 air show in Bengaluru. AFP

Mr Tata and Gujarat's chief minister Narendra Modi, now India's Prime Minister, at a Tata Nano factory in Gujarat in 2010. Reuters

Mr Tata and his successor as Tata chairman, Cyrus Mistry, with Mr Modi in Gandhinagar near Ahmedabad in 2014. AFP

Mr Tata and Mr Mistry, who later resigned from the group and took legal action against his former employer. AFP

Then-US vice president Joe Biden shows a picture of an Indian Air Force Boeing C-17 Globemaster III transport plane to Mr Tata in 2013. AFP

Mr Tata receives an honorary doctorate from the HSNC University in Mumbai in 2022. AFP

Mr Tata speaks to fellow industrialist Jamshed Godrej in Kolkata in 1995. AP

The Mumbai-based Tata Group was founded by Mr Tata's great-grandfather, Jamshetji Tata. The company started out as a trading firm in 1868 and, over the next century and a half, expanded into sectors including hotels, retail, steel, aviation and cars.

Mr Tata ran the group as chairman from 1991, when he took over from JRD Tata. He was at the helm of the group – which has played a key role in India's economic growth story – until his retirement in 2012. In the financial year to the end of March 2024, the conglomerate's revenue reached $165 billion.

It was Ratan Tata who significantly expanded the conglomerate's global footprint. This strategy included the acquisition of the British tea brand Tetley. Under his leadership, the group bought the British car brands Jaguar and Land Rover from Ford in 2008 for $2.3 billion, and set about turning around the business.

Amit Jain, chief executive and co-founder of CarDekho Group, a start-up in which Mr Tata invested in 2015, says he was in awe of the industrialist.

Over the years, Mr Tata became “more than a mentor – he was a guide and friend”, he adds.

“I'll never forget when we reached out to him for advice on growing the company,” say Mr Jain. “He shared his wisdom and experience generously. His support gave us the courage to push through tough times.”

He says that Mr Tata was a “a truly remarkable leader whose influence has shaped not only businesses but also the lives of countless entrepreneurs”.

His “composure, humility and ability to listen” were admirable characteristics that made Mr Tata such a pleasure to work with, says Mr Jain.

One of the things that struck her the most about Mr Tata was his ability to “stay curious and hungry”, Ms Singh says. Even towards the end of his life, he was fascinated by new-age businesses, she adds. She was also impressed by his attention to detail and the fact that he was “hands on” in his approach and did not simply delegate his work to others.

He shared his wisdom and experience generously. His support gave us the courage to push through tough times.

Amit Jain,
CEO and co-founder, CarDekho Group

But making money just for himself was not his ultimate goal.

For Ratan's great-grandfather, giving back to the community was a central part of the company that he founded – and Ratan was eager to continue this legacy.

Philanthropy is a core part of the Tata Group's work, and 66 per cent of the Tata Sons' equity is held by the Tata Trusts, where the money that is earned goes into initiatives that help the community and benefit those who are in need.

Mr Tata embodied this charitable spirit and was well known for his generosity in helping people financially.

He was also an animal lover, providing shelter for stray dogs at Tata's head office in Mumbai.

Mr Tata still played an active role in the conglomerate's philanthropic activities after stepping down as chairman and was very much considered the face of the group. Its leadership would also consult him when it came to major decisions.

“The passing of Mr Ratan Tata is an irreplaceable loss for India,” says George Alexander Muthoot, managing director of Muthoot Finance. “A visionary, a stalwart industrialist, and a compassionate philanthropist, his invaluable contributions not only fuelled India’s economic growth but also uplifted society.”

He says that “conversations with Mr Tata were always an enriching experience that I hold close to my heart” and that “his wisdom and humility inspired me deeply”.

“Though he is no longer with us, we must continue to follow in his footsteps,” he adds.

Sanjay Mehta, deputy director general, IMC Chamber of Commerce and Industry, did not know Mr Tata personally, but he did meet him and he says that the chat they had made a strong impression.

“After our brief conversation, I could understand that he deeply cared about fostering the nation and that he worked to the best interest of the business and humanity,” says Mr Mehta, adding that his demise feels like “a personal loss”.

“While his absence will create a profound emptiness, his spirit and contributions will continue to guide and inspire India,” he says.

In Mumbai on Thursday, thousands of residents from all walks of life flocked to pay their respects to the late Ratan Tata at a cultural arts centre in Mumbai, where his mortal remains were taken ahead of his cremation. People queued patiently in the muggy afternoon heat to bid farewell to a businessman who leaves behind a lasting legacy.