On 9th October, one of India's most respected industrialists and philanthropists, Ratan Tata, breathed his last breath. One of the key pillars contributing to the legacy of the 150-year-old Tata Group, which was first started in 1868. As the Chairman of the Tata Sons and Tata Group from 1991 to 2012, his 23-year reign made him propel the company to the heights of success and venture into newer avenues. It is estimated that during his stint as the group's Chairman, he generated economic growth and employment in the country, increasing the group's revenue from $5.8 billion to almost $85 billion. Besides this, for many people, he was an emblem of integrity and ethical business practices for which the Tata Group has always been heralded.
With an entrepreneurial heart, he has backed over 50 startups, including big names like Lenskart, Paytm, Ola Electric Mobility, and Upstox. Here's an in-depth look at his life and the legacy he has left behind.
Born in 1937, he was the son of Naval and Soonoo Tata, and soon after their separation, he was primarily raised by his grandmother, Navajbai Tata, in Mumbai. His grandmother has been one of the foremost influences in his life, and her lessons have remained with him till his last day. He subsequently left for the United States to pursue a degree in architecture at the prestigious Ivy League college, Cornell University. He started working in Los Angeles, but upon the call of his ailing grandmother, he returned to India.
Although he had a job offer from IBM, JRD Tata pursued him to join Tata Industries. He worked in different companies like Tata Motors and Tata Steel. His leadership prowess couldn't be ignored, and he soon became the director of National Radio and Electronics (NELCO) in 1971, getting it out of troubled waters. Around 1981, he was appointed Chairman of Tata Industries, and then from 1886 to 1989, he was the Chairman of Air India, gaining even more experience in diverse parts of the conglomerate group.
Two major things happened in 1991: Rata Tata became the Chairman of Tata Sons, and India opened its gates to the world with the Liberalisation, Privatisation, and Globalisation policy. Then, he restructured the group for its global domination. Ushering in the new millennium, he oversaw the acquisitions of several high-profile companies like Tetley, Corus, Jaguar Land Rover, and Daewoo, sealing the group as a big international player.
In 2012, he decided to step down as the Chairman. However, he was appointed the Chairman Emeritus, which meant his guidance and nurturing power would still be intact. As the nation mourned him together, he was surely remembered for his business acumen, but above all, he was remembered for his kind heart and humble personality. He always said, "I don't believe in making the right decisions. I take decisions and then make them right."
Besides his many businesses, he had a particular spot in his heart for healthcare, education, and animal welfare. Here are some of the avenues he touched with his philanthropic side.
Tata Nano, famously known as the "people's car," redefined affordability in the automotive industry. Designed to make car ownership accessible to millions, Nano combines compact design, fuel efficiency, and practicality. Its innovative engineering and cost-effective approach marked a revolutionary chapter in India's mobility story. Tata Nano was born with an ambitious vision to create the world's most affordable car, which would testify to Ratan Tata's far-sightedness and soft corner for innovation.With the base model priced at Rs 1 lakh (ex-factory), this project grabbed headlines worldwide.
Besides this project, Tata Motors was a pioneering setup in India, which Mr Tata aimed to self-produce cars in India, which is still running successfully. Tata Motors is among the world's top 10 most valuable manufacturers.
With a primary focus on providing education to all, Ratan Tata spoke on many occasions about the importance of the same. He wanted to uplift marginalized communities, and in response, the JN Tata Endowment for Higher Education was set up to allow Indians to pursue higher education. In its continuum, the Tata Trusts also aims to provide quality education and is aligned with the United Nations Sustainable Development Goals (SDGs).
An ardent advocate for healthcare in India, Mr Tata supported many initiatives to address various diseases like cancer, malaria, and tuberculosis. Tata Trusts is one such setup that also focuses on public health and improving the quality of healthcare, which they have been actively doing for many years. Under the Tata Cancer Care Foundation (TCCF), established in 2017, many people are provided affordable, high-quality cancer treatment close to their homes.
Another noteworthy one is the Tata Medical Centre in Kolkata, which provides world-class cancer treatments for underprivileged groups. He has also aided in the research of diseases like Alzheimer's.
