Ratan Tata, giant of Indian industry, leaves unforgettable mark on the world
Ratan Tata, former chairman of Tata Sons, the holding company of The Tata Group, passed away late Wednesday night (October 9). He was 86.
His leadership style, strategic vision and a deep sense of social responsibility made him a revered figure not only in India but all over the world.
Under his leadership, Tata Group emerged as a global conglomerate expanding its footprint across various sectors such as steel, automobiles, information technology and aviation.
His historic decisions related to mergers and acquisitions reflected his sharp business acumen. He had overseen some of the significant acquisitions during his period as the chairman. For example, in 2000, Tata Global Beverages acquired the British tea company Tetley for approximately $430 million. The move helped Tatas to significantly improve its hold in the international beverage market and establish itself as a major player. The acquisition spree continued and in 2004, Tata Motors acquired the South Korean firm Daewoo Commercial Vehicle Company to further strengthen its commercial vehicle portfolio. Similarly, Tata Steel acquired Anglo-Dutch steelmaker Corus Group for $12 billion in 2007 and became one of the largest steel-producing companies in the world.
Tata Motors bought Jaguar and Land Rover luxury car brands of Ford in 2008 for $2.3 billion. They were ailing at the time of acquisition, but his visionary leadership helped them regain ground, making Tata Motors a global automotive market.
When Ratan Tata took the helm, group companies went all out to launch landmark products that strengthened its global footprint. For example, when Tata Nano was launched in 2008, it was a car promising affordable movement to millions of Indians. While challenges existed in the Nano project, Ratan Tata underlined his innovative and visionary capabilities by launching a product that could motivate society.
Many believe that his modest beginnings in 1961, when he used to run the shop floor operations for Tata Steel, laid the foundation for his leadership roles within the group. He took charge of the autos to steel conglomerate as chairman in 1991 and then ran the group till 2012. He was the man behind restructuring the Tata Group at a time when the liberalisation of the Indian economy was underway.
In post-retirement period, he found himself embroiled in a battle at the boardroom with his successor Cyrus Mistry, who was sacked as the chairman of Tata Sons on October 4, 2016. He returned as interim chairman of the group when Mistry was overthrown and passed on the baton of the group to N Chandrasekaran in January 2017 and moved into his note of chairman emeritus of Tata Sons.
Even in 2012, when he retired, Tata was a name to reckon with in both the corporate world and social affairs. He remained sought after for advice and continued mentorship for a long time to come for young entrepreneurs.
Besides the popularity he enjoyed in the business world, Ratan Tata was also famous for his philanthropic work, which transformed many sectors of India. For his contribution, he was awarded the second highest civilian award, the Padma Vibhushan in 2008.
Ratan Tata was a towering figure in Indian business. He always promoted innovation and sustainability; perhaps the most enduring aspect that all of India will remember him by is his emphasis on corporate ethics and responsibility. His impact on industry and society, which made the brand name Tata a byword for quality and excellence across India and the world, is an exemplary model for generations to come.
