Ratan Tata has been a leader and contributed to India’s GDP. He was born on 28 December 1937 and became the chairman of the Tata Group from 1991 to 2012 and then from 2016 to 2017. He was popularly known for his philanthropy. Ratan Tata received the third highest civilian honour, the Padma Bhushan Award, in 2000. Moreover, he transformed Tata Group into India’s largest conglomerate.
He released the world’s most affordable car, the Tata Nano, with the vision that every household should have a car. In addition to his popularity for making Tata Group popular globally, he was socially responsible and contributed to charitable work. His smart ideas contributed to the success of Tata Group. He led Tata companies, including Tata Sons, Tata Motors, Tata Steel, and Tata Chemicals.
Ratan Tata Death News
After facing age-related illnesses, Ratan Tata passed away on October 9, 2024, in Breach Candy Hospital in Mumbai, Maharashtra, at the age of 86. Due to illness, he was admitted to the hospital in the morning on the same day. After his death, his body was taken to his home in Mumbai. On October 10, 2024, with full respect, they took his body for further cremation process.
He was taken in a funeral hearse decorated with white flowers and a big photo frame of Ratan Tata. To pay tributes to Amit Shah, Mukesh Ambani, Nita Ambani, and other big personalities will attend his last rite. PM Narendra Modi paid tribute to X by calling“visionary business leader, compassionate soul and an extraordinary human being.”
Furthermore, Sachin Tendulkar, Anand Mahindra, Rahul Gandhi, Amit Shah, Gautam Adani, Sundar Pichai, and others have paid tribute to Tata on social media. His assistant, Shantanu Naidu, paid tribute by saying, “Goodbye, my dear lighthouse 🤍” He was seen riding his motorcycle behind the truck carrying Tata’s mortal remains.
Ratan Tata’s Impact on India
With his leadership and strategic vision, he became India’s one of the most respected industrialists. In an interview, he said, “Our grandmother taught us to retain dignity at all costs, a value that’s stayed with me until today.” This is the reason behind Tata Group’s success. Ratan Tata net worth in 2024 was Rs. 3,800 crores; he donates most of his income to charitable work.
The holding company of Tata Group generates a large part of his income. The group has Tata Consultancy Services, Tata Motors, Tata Steel, Tata Power, Titan, Tata Projects, Air India, Indian Hotels Company, Tata Consumer Products, Voltas, Trent, Cromā and BigBasket. He contributed to the Indian economy through commercial growth and technological advancement in India.
Furthermore, with the launch of Tata Nano in 2008, he contributed to the automobile sector. Tata Nano is the world’s most affordable car, so everyone can afford a car, whether it is middle class or lower class. Tata Group expanded their business, and the product reached over 100 countries, which is helpful in India’s GDP.
Contribution to Healthcare
Tata Trust is among India’s oldest charitable institutions. In the healthcare department, Tata has contributed his income’s large portion. In 2010, the Trust donated approximately Rs 220 crore to Kolkata’s medical centre for cancer treatment and research facility.
During the COVID-19 pandemic, Tata Trust and Tata Sons, together, donated over Rs 1500 crore to fight against the deadly virus. Furthermore, Tata Trust donated Rs 500 crore for personal protective equipment (PPE), such as testing kits and medicines.
According to the Financial Year 2023, Tata Trust spent over Rs 456.42 crore. They spent over Rs 397.36 crore on programme grants, Rs 2.24 crore on small grants and individual grants, they spent over Rs 56.82. Every year, Tata Trust spends billions of rupees on healthcare departments.
Contribution to Rural Development
Tata Trust also donated a share of its income to rural development and a better quality of life. The trust especially worked for the areas of Madhya Pradesh, Jharkhand and Chhattisgarh. In Madhya Pradesh, the trust implemented health and nutrition-focused departments in over 342 villages and also provided education facilities in 566 villages.
Furthermore, they started a “Kushal Kisan Abhiyaan” for the agriculture sector, benefiting over 7000 farmers in Jharkhand. For the rapid adoption of commercial agriculture, the trust encouraged 98 agri-entrepreneurs. Similarly, for young youth a career choosing platform was implemented named “Sarthi.” For tribal groups, the trust provided annual funding of Rs 1 billion in Madhya Pradesh. The future goal of the trust is to change over 200 million lives.
Contribution to Tata Industry
When JRD Tata made Ratan Tata, a chairperson of Tata Industry, it was generating $5 billion.
With his ideas and strategies, Ratan Tata transformed a $5 billion company into a $100 billion company. He became the chairperson in 1991, and since then the company has gained profit. In present, Tata Group is operating and providing services in over 100 countries.
Furthermore, from steel to automobiles, his ideas are roaming the world and succeeding in these industries. Tata entered the global market in 2000 when he purchased Tetley, a tea brand. In 2007, he bought Corus, which later became the world’s largest steel producer. In 2008, he bought Jaguar Land Rover, a British car brand, and transformed Tata Motors with this brand. Even after his death, his long-term projects will continue to provide goods to these countries.
Impact of Tata’s Death on Investors
In 1991, Jehangir Ratanji Dadabhoy Tata (JRD Tata) handed Tata Group to his nephew, Ratan Tata. Since then, the Tata Group started growing rapidly. By adding new ventures, he expanded the company globally. However, after Ratan Tata’s demise, company shares may surge by up to 15% on Thursday. The shares of Tata Chemicals and Tata Teleservices rose.
Moreover, investors who invested in Tata Companies are deeply saddened by the sudden demise of their leader. After being chairman for several years, he retired in 2011. However, even after retirement, he kept encouraging young entrepreneurship for India’s innovation. Along with Tata Companies, Tata Technologies also gained shares.
Who Will Take His Legacy Forward?
Behind the success of Ratan Tata, the biggest hand was of Noel Tata, his stepbrother. He played an important role in the Tata Group. After the sudden demise of Sir Ratan Tata, Noel Tata and his children, Leah, Maya, and Neville Tata, are most likely to lead the company forward. The reason behind handling the company by Noel Tata is because Ratan Tata had no children.
Moreover, Tata never married, so he has no children. However, he was so close to getting married four times, yet he did not make it. In an interview, Tata shared that he met a girl when he moved to Los Angeles for a job and eventually fell in love. Due to his grandmother’s poor health, he had to return to India. He asked his girlfriend to join him, but due to the Indo-China war, her parents did not allow it. Like this, their beautiful relationship ended, and he never married anyone.
Bottom Line
Ratan Tata has been the leader of Tata Group and Sons. After retirement from Tata Sons, he was chairperson of Tata Emertuis. Unfortunately, due to age-related health, Sir Ratan Tata died on October 9, 2024. He significantly contributed to the success of Tata Group internationally. Due to his idea, he helped in improving India’s GDP. After his demise, it is most likely that Noel Tata and his children will become the frontmans of the Tata Industry.
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