From Indica to Jaguar: Ratan Tata's legacy lives on
Ratan Tata
Ratan Tata, the visionary behind Tata Group’s global legacy, died at 86 in Mumbai. The media statement given by N Chandrasekaran, Chairman, Tata Sons, read, ‘It is with a profound sense of loss that we bid farewell to Mr. Ratan Naval Tata, a truly uncommon leader whose immeasurable contributions have shaped not only the Tata Group but also the very fabric of our nation.’
Ratan Tata was admitted to Mumbai Hospital in intensive care. He had just dismissed rumours about his ill health on Monday in a social media post. The post read, ‘I am aware of the recent rumours circulating regarding my health and want to assure everyone that these claims are unfounded. I am currently undergoing medical check-ups due to my age and related conditions.’
Ratan Tata was born on 28 December 1937 and was the great-grandson of Jamsetji Tata, the founder of the Tata Group. He graduated with a degree in architecture, enrolled in Harvard Business School's management program, and joined the family business in 1961. He started from the bottom of the corporate ladder, working on the shop floor of Tata Steel in Jamshedpur.
He took over as the Chairman in 1991 when the company's revenues stood at $5.8 billion. He is credited with transforming Tata Group into a global leader across industries.
Under his leadership:
-Tata acquired global companies like Tetley, Corus, & Jaguar Land Rover
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-Tata Motors launched India’s first indigenously designed (Indica) and cheapest passenger car (Nano)
-Tata Sons acquired VSNL in 2002, paving the way for Tata Communications
The public offering of Tata Consultancy Services (TCS) in 2004 is regarded as the game-changer for the Tata group. Currently, TCS is the largest information technology services company in the nation. It generates more than $4 billion in dividend payments annually, making up 90 per cent of Tata Sons' overall earnings.
This strategic overhaul led to the company touching $100 billion in valuation by 2011. The company’s influence soared in various sectors like steel, automobiles, telecommunications, and information technology. The global footprint is evident from the fact that two-thirds of the company’s revenue now comes from overseas markets. The Tata Sons conferred the honorary title of Chairman Emeritus on Ratan Tata after he retired in December 2012. He has also been honoured with Padma Vibhushan, India’s second-highest civilian award, and the Knight Grand Cross of the Most Excellent Order of the British Empire, to name a few.
Beyond the balance sheets, Ratan Tata is widely acclaimed for his Philanthropy. Approximately 65 per cent of the revenues made by the Tata Group are allocated to charitable trusts that support rural development, healthcare, and education.
Prime Minister Narendra Modi, along with countless other politicians, business leaders, and actors, have expressed grief over the passing of a visionary as revered as Ratan Tata. His business empire is likely to be taken over by his half-brother Noel Tata and his kin. Noel has three children — Maya, Neville, and Leah Tata.