Ratan Tata, India’s most respected businessman, leaves a rich legacy behind

Ratan Naval Tata, chairman emeritus of Tata Sons, passed away at the age of 86, on Wednesday (Oct 9) after being hospitalised in critical condition in intensive care at a Mumbai hospital.

Earlier on Monday, he said he was undergoing a routine medical investigation due to his age and related medical conditions.

Tata, one of India's most respected businessmen, became chairman of the autos-to-steel conglomerate in 1991 and ran the group, founded by his great-grandfather more than a hundred years ago, until 2012.

He stands out as a prominent business tycoon and philanthropist, whose success has widely impacted India's economy.

He transformed the Tata Group from a primary domestic company into a global powerhouse.

He founded the telecommunications company Tata Teleservices in 1996 and took the IT company Tata Consultancy Services public in 2004.

He led the transformation of Tata Group and his tenure as chairman saw the acquisition of high-profile global brands, like Jaguar Land Rover, Corus Steel, and Tetley Tea, positioning Tata Group on the world stage.

After stepping down as chairman, Ratan Tatawas conferred with the title of chairman emeritus of Tata Sons, Tata Industries, Tata Motors, Tata Steel and Tata Chemicals, according to the company's website.

In 2000, he was awardedthe Padma Bhushan,the third-highest civilian award in India, for his outstanding contributions to trade and industry. Eight years later, he was conferred the Padma Vibhushan, the second highest civilian honour, for his efforts in transforming Tata into a global enterprise.

His philanthropy touched millions of lives and his belief in ethical business practices and unwavering drive to uplift India made him a true icon and respected figure in the boardrooms and in millions of hearts.

The great-grandson of Jamsetji Tata was born on December 28, 1937, in Mumbai to Naval Tata and Sooni Tata.

(With inputs from agencies)