Ratan Tata, a legend of Indian industry and business icon, dies at the age of 86

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NEW DELHI — Thousands of people on Thursday paid their last respects to Ratan Tata — one of India's most influential business leaders — in the country's financial capital ahead of a state funeral later in the day.

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The veteran industrialist, former chairman of the Tata Group, a conglomerate worth $100 billion, died on Wednesday evening in a Mumbai hospital at the age of 86.

Tata's body was flown to the National Center for Performing Arts in Mumbai on Thursday, where audiences, industrialists, government officials and some of India's top figures lined up to pay their last respects to a man seen by many as a legend and industry icon.

Prime Minister Narendra Modi described Tata as a visionary leader and a compassionate and extraordinary man.

“He has provided stable leadership to one of India's oldest and most prestigious business houses. At the same time, his contributions went far beyond the boardrooms,” Modi said on the X social media platform.

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The current chairman of the Tata Group, Natarajan Chandrasekaran, described Tata as his “friend, mentor and guide”. He did not provide the cause of death.

“Through his unwavering commitment to excellence, integrity and innovation, the Tata Group has expanded its global reach under his leadership while always remaining true to its moral compass,” Chandrasekaran said in a statement.

The authorities of the state of Maharashtra, whose capital is Mumbai, announced a one-day mourning in honor of Tata on Thursday, and government buildings flew the national flag at half-mast.

Dad was admitted this week to Breach Candy Hospital in south Mumbai, the city where he lived. On Monday, the Tata Group issued a statement saying there was no reason to worry about his health and he was undergoing check-ups for age-related conditions.

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Google CEO Sundar Pichai said Tata left behind a remarkable business and philanthropic legacy and played a key role in mentoring and developing modern business leadership in India.

“He really cared about making India better,” Pichai said on X.

Cornell University, where Tata earned his bachelor's degree in architecture, said it was the nation's “most generous international donor.”

“We will remember his legacy of transformative giving to Cornell,” the university said in the X program.

Ratan Tata joined the Tata Group in 1961 and succeeded JRD Tata as chairman upon the latter's retirement in 1991. This followed the liberalization of the Indian economy in 1990, which brought massive economic reforms and global investment in the country.

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Under his leadership, the conglomerate grew significantly to encompass a vast group of nearly 100 companies, including Tata Motors, the country's largest carmaker, Tata Steel, the largest private steel company Tata Power and IT firm Tata Consultancy Services. It also expanded around the world, and after his retirement, revenues exceeded $100 billion.

The Tata Group employs over 350,000 people worldwide and is present in over 100 countries.

Its products are ubiquitous in Indian homes and include everyday items such as salt, tea and mineral water.

The Tata Group pioneered commercial aviation in India, launching the airline in 1932 that later became Air India. Later the government took it over. Then in 2021, the Tata Group bought Air India from the government. It also launched full-service carrier Vistara from Singapore Airlines but recently merged it with Air India.

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In June 2008, Tata bought Jaguar and Land Rover from Ford for $2.3 billion. A year earlier, it acquired the British company Corus for USD 12 billion. At that time, Corus' annual steel production was four times that of Tata Steel. However, unlike its success in other projects, Corus was a stumbling block for Tatas as the company failed to recover from the financial crisis.

Tata's Port Talbot steelworks in Wales also suffered a setback, with 2,500 job losses despite a 500 million pound ($654) taxpayer-backed deal with the government.

In 2009, the company surprised the auto industry by launching the Tata Nano, a tiny rear-engine vehicle costing around 100,000 rupees ($2,000 at the time). Advertised as a “people's car”, it could seat up to five adults. Ratan Tata said at the time that it would provide a “safe, affordable, all-weather form of transport” to millions of middle- and lower-income Indian consumers.

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However, due to low sales, the company stopped production of the tiny car in 2018.

Tata was also widely known for his philanthropic work in many areas, including health care, education, skill development, disaster relief and rehabilitation through the Tata Trusts, India's largest private sector philanthropic organization, which he headed until his death.

In December 2012, Tata retired as chairman of the Tata Group. He briefly served as interim chairman starting in October 2016, after the ouster of his successor, Cyrus Mistry. He came back from retirement in 2017 when Chandrasekaran was appointed chairman of the Tata Group. But he was still known in the group as a father figure.

Dad never married and left behind a brother, two half-sisters and a half-brother.

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