Ratan Tata, Chairman Emeritus of the Tata Group, passed away at 86 on Wednesday while receiving treatment for age-related medical conditions.
Tata͏͏ Sons͏͏ Chairman͏͏ N͏͏ Chandrasekaran͏͏ confirmed͏͏ his͏͏ demise͏͏ in͏͏ an͏͏ official͏͏ statement.
“It͏͏ is͏͏ with͏͏ deep͏͏ sadness͏͏ that͏͏ we͏͏ bid͏͏ farewell͏͏ to͏͏ Mr.͏͏ Ratan͏͏ Naval͏͏ Tata,͏͏ an͏͏ exceptional͏͏ leader͏͏ whose͏͏ remarkable͏͏ contributions͏͏ have͏͏ shaped͏͏ not͏͏ only͏͏ the͏͏ Tata͏͏ Group͏͏ but͏͏ also͏͏ the͏͏ very͏͏ fabric͏͏ of͏͏ our͏͏ nation.͏͏ On͏͏ behalf͏͏ of͏͏ the͏͏ entire͏͏ Tata͏͏ family,͏͏ I͏͏ extend͏͏ our͏͏ heartfelt͏͏ condolences͏͏ to͏͏ his͏͏ loved͏͏ ones,”͏͏ said͏͏ Chandrasekaran.
According͏͏ to͏͏ India͏͏ TV,͏͏ Tata͏͏ passed͏͏ away͏͏ at͏͏ Breach͏͏ Candy͏͏ Hospital͏͏ in͏͏ Mumbai,͏͏ where͏͏ he͏͏ had͏͏ been͏͏ admitted͏͏ to͏͏ the͏͏ intensive͏͏ care͏͏ unit͏͏ (ICU)͏͏ due͏͏ to͏͏ a͏͏ sudden͏͏ decline͏͏ in͏͏ his͏͏ health͏͏ and͏͏ a͏͏ significant͏͏ drop͏͏ in͏͏ blood͏͏ pressure.
Condoling͏͏ his͏͏ demise,͏͏ Prime͏͏ Minister͏͏ Narendra͏͏ Modi͏͏ said,͏͏ “I͏͏ am͏͏ deeply͏͏ saddened͏͏ by͏͏ his͏͏ passing.͏͏ My͏͏ thoughts͏͏ are͏͏ with͏͏ his͏͏ family,͏͏ friends,͏͏ and͏͏ admirers͏͏ during͏͏ this͏͏ difficult͏͏ time.͏͏ Om͏͏ Shanti.”
Harsh͏͏ Goenka,͏͏ Chairperson͏͏ of͏͏ the͏͏ RPG͏͏ Group,͏͏ tweeted,͏͏ “The͏͏ clock͏͏ has͏͏ stopped͏͏ ticking.͏͏ A͏͏ titan͏͏ has͏͏ passed͏͏ away.͏͏ #RatanTata͏͏ was͏͏ a͏͏ beacon͏͏ of͏͏ integrity,͏͏ ethical͏͏ leadership,͏͏ and͏͏ philanthropy,͏͏ leaving͏͏ an͏͏ indelible͏͏ mark͏͏ on͏͏ the͏͏ business͏͏ world͏͏ and͏͏ beyond.͏͏ He͏͏ will͏͏ always͏͏ soar͏͏ high͏͏ in͏͏ our͏͏ memories.͏͏ R.I.P.”
“I͏͏ cannot͏͏ accept͏͏ the͏͏ absence͏͏ of͏͏ Ratan͏͏ Tata.͏͏ With͏͏ him͏͏ gone,͏͏ our͏͏ only͏͏ option͏͏ is͏͏ to͏͏ commit͏͏ to͏͏ emulating͏͏ his͏͏ example.͏͏ He͏͏ was͏͏ a͏͏ businessman͏͏ who͏͏ believed͏͏ that͏͏ financial͏͏ wealth͏͏ and͏͏ success͏͏ were͏͏ most͏͏ valuable͏͏ when͏͏ dedicated͏͏ to͏͏ serving͏͏ the͏͏ global͏͏ community.͏͏ Goodbye͏͏ and͏͏ Godspeed,͏͏ Mr.͏͏ T,”͏͏ said͏͏ Anand͏͏ Mahindra,͏͏ Chairman͏͏ of͏͏ the͏͏ Mahindra͏͏ Group.
Synonymous͏͏ with͏͏ Indian͏͏ industry,͏͏ Tata,͏͏ even͏͏ at͏͏ the͏͏ age͏͏ of͏͏ 86,͏͏ commanded͏͏ a͏͏ level͏͏ of͏͏ popularity͏͏ that͏͏ many͏͏ envied͏͏ and͏͏ few͏͏ could͏͏ attain.
A͏͏ Life͏͏ Dedicated͏͏ to͏͏ Business:
Born͏͏ on͏͏ December͏͏ 28,͏͏ 1937,͏͏ to͏͏ Naval͏͏ and͏͏ Soonoo͏͏ Tata,͏͏ Ratan͏͏ was͏͏ raised͏͏ by͏͏ his͏͏ grandmother,͏͏ Navajbai͏͏ R͏͏ Tata,͏͏ in͏͏ a͏͏ baroque͏͏ mansion͏͏ known͏͏ as͏͏ Tata͏͏ Palace͏͏ in͏͏ downtown͏͏ Bombay͏͏ (now͏͏ Mumbai).
He͏͏ completed͏͏ his͏͏ schooling͏͏ at͏͏ Campion͏͏ School͏͏ and͏͏ then͏͏ at͏͏ Cathedral͏͏ and͏͏ John͏͏ Connon͏͏ in͏͏ what͏͏ was͏͏ then͏͏ Bombay.
He͏͏ earned͏͏ a͏͏ bachelor’s͏͏ degree͏͏ in͏͏ Architecture͏͏ from͏͏ Cornell͏͏ University͏͏ in͏͏ the͏͏ US͏͏ in͏͏ 1962͏͏ and͏͏ briefly͏͏ worked͏͏ with͏͏ Jones͏͏ and͏͏ Emmons͏͏ in͏͏ Los͏͏ Angeles͏͏ before͏͏ returning͏͏ to͏͏ India͏͏ later͏͏ that͏͏ year.͏͏ It͏͏ was͏͏ also͏͏ the͏͏ year͏͏ he͏͏ joined͏͏ the͏͏ Tata͏͏ Group.
Nine͏͏ years͏͏ later,͏͏ after͏͏ working͏͏ with͏͏ various͏͏ companies͏͏ within͏͏ the͏͏ Group,͏͏ he͏͏ was͏͏ appointed͏͏ director-in-charge͏͏ of͏͏ the͏͏ National͏͏ Radio͏͏ and͏͏ Electronics͏͏ Company͏͏ Limited͏͏ in͏͏ 1971.͏͏ A͏͏ decade͏͏ later,͏͏ in͏͏ 1981,͏͏ he͏͏ took͏͏ on͏͏ the͏͏ role͏͏ of͏͏ chairman͏͏ of͏͏ Tata͏͏ Industries.
In͏͏ March͏͏ 1991,͏͏ he͏͏ became͏͏ the͏͏ chairman͏͏ of͏͏ Tata͏͏ Sons,͏͏ the͏͏ holding͏͏ company͏͏ of͏͏ the͏͏ Tata͏͏ Group,͏͏ stepping͏͏ into͏͏ the͏͏ shoes͏͏ of͏͏ giants͏͏ like͏͏ Jamsetji͏͏ Tata,͏͏ Dorab͏͏ Tata,͏͏ and͏͏ JRD͏͏ Tata.
Continue͏͏ Exploring:͏͏ Neville͏͏ Tata͏͏ takes͏͏ charge͏͏ of͏͏ Star͏͏ Bazaar,͏͏ marking͏͏ next͏͏ generation͏͏ leadership͏͏ in͏͏ Tata Group
Over͏͏ the͏͏ next͏͏ two͏͏ decades,͏͏ Ratan͏͏ Tata͏͏ increased͏͏ the͏͏ conglomerate’s͏͏ revenues͏͏ from͏͏ just͏͏ $5.7͏͏ billion͏͏ in͏͏ 1991͏͏ to͏͏ nearly͏͏ $100͏͏ billion͏͏ in͏͏ 2012,͏͏ the͏͏ year͏͏ he͏͏ stepped͏͏ down.͏͏ His͏͏ tenure͏͏ capitalised͏͏ on͏͏ the͏͏ opportunities͏͏ presented͏͏ by͏͏ liberalisation͏͏ and͏͏ the͏͏ wave͏͏ of͏͏ globalisation.
Under͏͏ his͏͏ leadership,͏͏ Tata͏͏ acquired͏͏ prominent͏͏ brands͏͏ such͏͏ as͏͏ Tetley,͏͏ Corus,͏͏ Jaguar͏͏ Land͏͏ Rover,͏͏ Brunner͏͏ Mond,͏͏ General͏͏ Chemical͏͏ Industrial͏͏ Products,͏͏ and͏͏ Daewoo.͏͏ In͏͏ recognition͏͏ of͏͏ his͏͏ contributions͏͏ to͏͏ the͏͏ Indian͏͏ business͏͏ landscape,͏͏ he͏͏ was͏͏ awarded͏͏ the͏͏ Padma͏͏ Vibhushan,͏͏ the͏͏ country’s͏͏ second-highest͏͏ civilian͏͏ honour,͏͏ by͏͏ the͏͏ Government͏͏ of͏͏ India͏͏ in͏͏ 2008.
Beyond͏͏ being͏͏ a͏͏ prominent͏͏ newsmaker,͏͏ Ratan͏͏ Tata͏͏ recognised͏͏ a͏͏ significant͏͏ opportunity͏͏ in͏͏ the͏͏ Indian͏͏ startup͏͏ ecosystem͏͏ as͏͏ early͏͏ as͏͏ 2014,͏͏ when͏͏ the͏͏ term͏͏ “entrepreneurship”͏͏ had͏͏ yet͏͏ to͏͏ become͏͏ a͏͏ buzzword.
Pioneering͏͏ the͏͏ Startup͏͏ Ecosystem:
Notably,͏͏ Tata͏͏ had͏͏ a͏͏ significant͏͏ impact͏͏ on͏͏ the͏͏ Indian͏͏ startup͏͏ ecosystem,͏͏ being͏͏ one͏͏ of͏͏ the͏͏ early͏͏ backers͏͏ of͏͏ major͏͏ players͏͏ like͏͏ Paytm,͏͏ Snapdeal,͏͏ and͏͏ Urban͏͏ Company.
He͏͏ made͏͏ his͏͏ first͏͏ investment͏͏ in͏͏ Snapdeal͏͏ in͏͏ 2014,͏͏ when͏͏ it͏͏ was͏͏ still͏͏ a͏͏ relatively͏͏ unknown͏͏ e-commerce͏͏ startup.͏͏ His͏͏ investment͏͏ is͏͏ believed͏͏ to͏͏ have͏͏ played͏͏ a͏͏ crucial͏͏ role͏͏ in͏͏ helping͏͏ Snapdeal͏͏ remain͏͏ competitive͏͏ in͏͏ the͏͏ Indian͏͏ e-commerce͏͏ industry.
Continuing͏͏ his͏͏ support,͏͏ Tata͏͏ invested͏͏ in͏͏ a͏͏ small͏͏ recharge͏͏ platform͏͏ in͏͏ 2015,͏͏ which͏͏ later͏͏ transformed͏͏ into͏͏ the͏͏ fintech͏͏ powerhouse͏͏ Paytm.
In͏͏ addition,͏͏ he͏͏ supported͏͏ several͏͏ other͏͏ prominent͏͏ Indian͏͏ startups͏͏ in͏͏ the͏͏ following͏͏ years,͏͏ including͏͏ ride-hailing͏͏ giant͏͏ Ola,͏͏ health͏͏ and͏͏ fitness͏͏ startup͏͏ CureFit,͏͏ auto͏͏ marketplace͏͏ CarDekho,͏͏ and͏͏ eyewear͏͏ leader͏͏ Lenskart,͏͏ with͏͏ many͏͏ more͏͏ on͏͏ the͏͏ list.
He͏͏ also͏͏ made͏͏ significant͏͏ investments͏͏ in͏͏ startups͏͏ such͏͏ as͏͏ the͏͏ kids-focused͏͏ omnichannel͏͏ marketplace͏͏ Firstcry,͏͏ the͏͏ consumer͏͏ service͏͏ platform͏͏ Urban͏͏ Company,͏͏ B2B͏͏ e-commerce͏͏ leader͏͏ Moglix,͏͏ and͏͏ the͏͏ discount͏͏ brokerage͏͏ platform͏͏ Upstox.
In͏͏ one͏͏ of͏͏ his͏͏ interviews,͏͏ Tata͏͏ famously͏͏ remarked͏͏ that͏͏ he͏͏ considered͏͏ these͏͏ investments͏͏ in͏͏ startups͏͏ to͏͏ be͏͏ a͏͏ “learning͏͏ experience.”
In͏͏ a͏͏ 2021͏͏ interview͏͏ with͏͏ a͏͏ TV͏͏ channel,͏͏ he͏͏ elaborated͏͏ on͏͏ his͏͏ experiences͏͏ as͏͏ an͏͏ investor͏͏ in͏͏ Indian͏͏ startups.͏͏ He͏͏ mentioned͏͏ that͏͏ his͏͏ initial͏͏ interest͏͏ in͏͏ entrepreneurship͏͏ was͏͏ sparked͏͏ during͏͏ his͏͏ early͏͏ days͏͏ at͏͏ Tata,͏͏ when͏͏ he͏͏ encouraged͏͏ the͏͏ company͏͏ to͏͏ explore͏͏ emerging͏͏ computer͏͏ and͏͏ software͏͏ startups͏͏ in͏͏ the͏͏ Bay͏͏ Area.
Regarding͏͏ his͏͏ criteria͏͏ for͏͏ supporting͏͏ new-age͏͏ tech͏͏ companies,͏͏ Tata͏͏ once͏͏ stated͏͏ that͏͏ he͏͏ focused͏͏ on͏͏ entrepreneurs’͏͏ vision͏͏ and͏͏ commitment,͏͏ not͏͏ just͏͏ the͏͏ potential͏͏ of͏͏ a͏͏ business͏͏ model.͏͏ He͏͏ emphasized͏͏ the͏͏ importance͏͏ of͏͏ founders͏͏ who͏͏ were͏͏ genuinely͏͏ passionate͏͏ about͏͏ creating͏͏ something͏͏ sustainable͏͏ and͏͏ impactful,͏͏ rather͏͏ than͏͏ those͏͏ seeking͏͏ a͏͏ quick͏͏ exit.
During͏͏ his͏͏ decade-long͏͏ involvement͏͏ in͏͏ the͏͏ Indian͏͏ startup͏͏ ecosystem,͏͏ Tata͏͏ invested͏͏ in͏͏ over͏͏ 50͏͏ startups.͏͏ However,͏͏ beyond͏͏ his͏͏ investments,͏͏ new-age͏͏ entrepreneurs͏͏ admired͏͏ him͏͏ for͏͏ his͏͏ sharp͏͏ business͏͏ acumen,͏͏ strong͏͏ governance͏͏ practices,͏͏ philanthropy,͏͏ and͏͏ significant͏͏ impact͏͏ on͏͏ society.
For͏͏ now,͏͏ the͏͏ nation͏͏ mourns͏͏ the͏͏ loss͏͏ of͏͏ Ratan͏͏ Tata,͏͏ a͏͏ prominent͏͏ business͏͏ icon͏͏ whose͏͏ absence͏͏ has͏͏ created͏͏ an͏͏ irreplaceable͏͏ void͏͏ within͏͏ India͏͏ Inc.
