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Famous Indian Businessman And Former Chairman Of Tata Group Ratan Tata Passes Away
Ratan Tata, the Indian entrepreneur who built the Tata Group into a global multinational with a large portfolio in areas ranging from software to sports cars, has died at the age of 87.
“It is with a deep sense of loss that we bid farewell to Ratan Naval Tata, an extraordinary leader whose immeasurable contribution has shaped not only the Tata Group but the very fabric of the Indian nation,” said Tata Group Chairman Natarajan Chandrasekaran.
In response, Indian Prime Minister Narendra Modi wrote that he appreciates Tata for the stable management of one of India’s oldest and most prestigious companies. He described him as a visionary business leader, a compassionate person and an exceptional human being, reports AFP.
Dad was born in 1937 in Mumbai. After that, he worked in the USA and returned to his homeland at the request of his grandmother who raised him. He helped grow the promising family business he took over in 1991 during a period of sweeping reforms that opened the Indian economy to the world.
He led the Tata Group for 21 years and added the prestigious British car brands Jaguar and Land Rover to its diversified portfolio.
Dad controlled over 30 companies operating in over 100 countries on six continents, and he lived a modest life. He was also known for his humanitarian work.
Despite the Tata Group’s financial success, Ratan was left off the list of billionaires due to the group’s unique structure.
On the other hand, each Tata company or enterprise operates independently under the direction of its board of directors. There are 26 Tata public companies with a combined market capitalization of more than $365 billion.
