Ratan Tata passes away at 86; business tycoons mourn his death

New Delhi: Tata Group’s chairman emeritus and veteran industrialist Ratan Tata passed away Wednesday evening.

Tata, who led the salt-to-software conglomerate to new heights, was 86.

A recipient of Padma Vibhushan, he breathed his last at south Mumbai’s Breach Candy Hospital at 11.30 pm.

“It is with a profound sense of loss that we bid farewell to Ratan Naval Tata, a truly uncommon leader whose immeasurable contributions have shaped not only the Tata Group but also the very fabric of our nation,” Tata Sons chairman N Chandrasekaran said in a statement subsequently.

Chandrasekaran said Tata, a friend, mentor and guide, led by example and had an unwavering commitment to excellence, integrity, and innovation.

Under Tata’s leadership starting in 1991, the Tata Group expanded its global footprint while always remaining true to its moral compass, he added.

Chandrasekharan added that Ratan Tata’s dedication to philanthropy and the development of society touched the lives of millions and will benefit future generations.

Prime Minister Narendra Modi paid rich tributes to Tata, describing him as a visionary business leader, a compassionate soul and an extraordinary human being.

"One of the most unique aspects of Shri Ratan Tata Ji was his passion towards dreaming big and giving back. He was at the forefront of championing causes like education, healthcare, sanitation, animal welfare to name a few," he said on X.

Ratan Tata led the Tata Group from March 1991 to December 2012 as Chairman of Tata Sons, the holding company of the conglomerate.

"There is no cause for concern. I remain in good spirits," read his last social media message.

India's top tycoons mourned the death of legendary industrialist Tata, with RIL Chairman and Managing Director Mukesh Ambani calling him one of India's most illustrious and kind-hearted sons.

Besides Ambani, billionaire Gautam Adani as well as auto legend Anand Mahindra mourned Tata's demise.

"It is a very sad day for India and India Inc. Ratan Tata's passing away is a big loss, not just to the Tata Group, but to every Indian," Ambani said in his condolence message. "At a personal level, the passing of Ratan Tata has filled me with immense grief as I lost a dear friend."

Recalling his numerous interactions with Tata that left him "inspired and energised", he said Ratan Tata was a visionary industrialist and philanthropist who always strove for society's greater good.

Interactions with him "enhanced my respect for the nobility of his character and the fine human values he embodied," Ambani said in a statement.

"With the demise of Mr Ratan Tata, India has lost one of her most illustrious and kind-hearted sons. Mr Tata took India to the world and brought the best of the world to Bharat. He institutionalised the House of Tata and made it an international enterprise growing the Tata group over 70 times since the time he took over as Chairman in 1991," he added.

"Ratan, you will always remain in my heart." Adani said India has lost "a giant, a visionary who redefined modern India's path".

"Ratan Tata wasn't just a business leader; he embodied the spirit of India with integrity, compassion and an unwavering commitment to the greater good. Legends like him never fade away. Om Shanti," he said in a post on X.

Anand Mahindra said India's economy stands on the cusp of a historic leap forward and Tata's "life and work have had much to do with our being in this position".

"Hence, his mentorship and guidance at this point in time would have been invaluable," he said.

"With him gone, all we can do is commit to emulating his example. Because he was a businessman for whom financial wealth and success was most useful when it was put to the service of the global community." 

Bidding adieu, Mahindra said, "Goodbye and Godspeed, Mr. T. You will not be forgotten. Because Legends never die." 

Recalling his last meeting with Tata where they talked about the progress of Waymo, Google CEO Sundar Pichai said, "He leaves an extraordinary business and philanthropic legacy and was instrumental in mentoring and developing the modern business leadership in India. He deeply cared about making India better. Deep condolences to his loved ones and Rest in Peace Shri Ratan Tata Ji."