Indian billionaire tycoon Ratan Tata has died aged 86.
The Tata Group, the conglomerate he led for more than two decades, made the announcement.
Ratan Tata died at a Mumbai hospital late on Wednesday (October 9, 2024).
Tata was admitted to the Breach Candy Hospital in south Mumbai on Monday (October 7, 2024) owing to age-related issues, and to control his blood pressure.12 mins ago
In a statement announcing Tata’s death, Natarajan Chandrasekaran, the current chairman of Tata Sons, said: “On behalf of the entire Tata family, I extend our deepest condolences to his loved ones. His legacy will continue to inspire us as we strive to uphold the principles he so passionately championed.”Indian Prime Minister Narendra Modi hailed Tata as a “visionary business leader, a compassionate soul and an extraordinary human being.”
Tata was one of India’s most internationally recognised business leaders, and the Tata Group is one of the country’s largest companies.
During his time as chairman the firm bought high-profile brands such as UK-based car maker Jaguar Land Rover and the world’s second-largest tea company Tetley.
Tata retired as chairman of the Tata Group in 2012, though he later served in an interim capacity for a few months; he was chairman emeritus at the time of his death
A former chairman of Tata Group, he ran the conglomerate for more than 20 years and is credited with putting the business on the global stage with several high-profile acquisitions, including UK-based car brands Jaguar and Land Rover and Tetley, the world’s second-largest tea company.
The Tata Group is one of the country’s largest companies, with annual revenues in excess of $100 billion.
Tata was also a huge supporter of startups and invested in several ventures, including Paytm – the company that revolutionised digital payments in India.
Others have spoken of his mild-mannered and modest personality and fondly remembered his love for dogs and flying planes.
Tata’s body has been kept at a cultural centre in Mumbai for people to pay their tributes until 15:30 India time (10:00GMT).
He will be given a state funeral on Thursday evening.
