Ratan Tata dies at the age of 86

Topline

Ratan Tata – a former Tata Group chairman who led the Indian mega-company through several major international acquisitions – has died aged 86, the group announced on Wednesday.

Important facts

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Crucial quote

Indian Prime Minister Narendra Modi praised Tata as a “visionary business leader, a compassionate soul and an exceptional human being” in a statement posted on X, formerly known as Twitter. “He ensured the stable leadership of one of the oldest and most renowned business houses in India… Thanks to his humility, kindness and unwavering commitment to the betterment of our society, he endeared himself to several people.”

Big number

165 billion dollars. According to its own information, the Tata Group achieved this much sales in the 2023/24 financial year in all of its companies that employed more than a million people.

Important background

Founded in 1868, the Tata Group is now one of India’s largest conglomerates, comprising more than 30 companies across 10 industries and operating in more than 100 countries. In 2005, he was named Forbes Asian Businessman of the Year, praised for more than doubling his company’s revenue over a decade and leading it into the modern economy. Tata stepped down from his role as group chairman in 2012 but was given the title “chairman emeritus of Tata Sons, Tata Motors, Tata Steel and Tata Chemicals,” according to Indian newspaper Business Today. After stepping down, he briefly returned to serve as interim CEO in 2016, the BBC reported. Reuters first reported on Wednesday that Tata was in intensive care at a hospital in Mumbai after the company said earlier in the week that he had been admitted for routine checks. In a post on his own social media on Monday, Tata thanked people for their concern for him and confirmed that he was undergoing regular check-ups due to his age and “related medical issues.”

Further reading

ForbesStorm in a teapot
BBCIndian tycoon Ratan Tata has died at the age of 86ReutersRatan Tata, former chairman of Tata Group, dies aged 86