Indian tycoon Ratan Tata has died at the age of 86, the Tata Group, the conglomerate he led for more than two decades, has said.
Tata was one of India’s most internationally recognised business leaders.
The Tata Group is one of India’s largest companies, with annual revenues of more than $100bn (£76.5bn).
In a statement announcing Tata’s death, the current chairman of Tata Sons described him as a “truly unusual leader”.
Natarajan Chandrasekaran added: “On behalf of the entire Tata family, I extend my deepest condolences to his loved ones.
“His legacy will continue to inspire us as we strive to uphold the principles he so passionately defended.”
During his tenure as chairman of the Tata Group, the conglomerate made several high-profile acquisitions, including the purchase of Anglo-Dutch steelmaker Corus, UK-based car brands Jaguar and Land Rover, and Tetley, the world’s second-largest tea company.
British Economy Secretary Jonathan Reynolds said in his honour that Tata was a “titan of business” who “played a major role in shaping British industry”.
A 2011 profile published in the Economist magazine called Tata a “titan” and credited him with transforming the family group into “a global powerhouse”.
“He owns less than 1% of the group that bears his family name. But he is a titan nonetheless: the most powerful businessman in India and one of the most influential in the world,” the magazine said.
In 2012, he retired as chairman of the group and was named honorary chairman of Tata Sons, the group’s holding company.
Indian Prime Minister Narendra Modi praised Tata as a “visionary business leader, a compassionate soul and an extraordinary human being.”
Modi paid tribute on X, formerly known as Twitter, recounting “countless interactions” with Tata and saying he was in “extreme pain” over his death.
Tata — whose body lies in a cultural center in Mumbai for people to pay their respects — will receive a state funeral later on Thursday.
Born in 1937 into a traditional Parsi family, Tata studied architecture and engineering at Cornell University in the US.
In 1962, he joined Tata Industries, the group’s promoter company, as an assistant and underwent six months of training at a factory in Jamshedpur.
He then went on to work for Tata Iron and Steel Company (now Tata Steel), Tata Consultancy Services (TCS) and National Radio and Electronics (Nelco).
In 1991, JRD Tata, who had led the group for more than half a century, appointed Ratan Tata as his successor. “He [JRD Tata] was my greatest mentor… he was like a father and a brother to me – and not enough has been said about that,” Tata later told an interviewer.
In 2008, the Indian government awarded him the Padma Vibhushan, the country’s second highest civilian award.
Peter Casey, author of The Story of Tata, described Tata as a “modest, reserved and even shy man” who had a “stately calm” and “fierce discipline”.
He became embroiled in a rare, smoky controversy in 2016 when his successor as chairman of Tata Sons, Cyrus Mistry, was removed from his post, leading to a bitter management row. Mistry died in a car crash in 2022.
The business magnate also had a lighter side. His love of fast cars and planes was well-known – the Tata Group website describes these as some of his “enduring passions”.
Tata was also a diving enthusiast, a hobby that faded over the years “because his ears could no longer cope with the pressure”.
He was also a dog lover, fondly remembering the many pets that kept him company over the decades.
“My love for dogs as pets is always strong and will continue as long as I live,” the industrialist said in a 2021 interview.
“Every time one of my pets dies, I feel an indescribable sadness and decide that I cannot say goodbye like that again. And yet, two or three years later, my house becomes too empty and too quiet to live without them, so there is another dog that gets my affection and attention, just like the previous one,” he said.
He has also often been praised for his simplicity. In 2022, a video of him in a Nano car went viral on social media, one of the world’s cheapest cars, which is now mainly remembered as one of Tata’s failed dreams.