Ratan Tata, former head of the Tata Group, was widely regarded as both a giant of Indian business and a figure of immense virtue.
In a society as diverse as India, his influence and respect crossed boundaries. When he passed away on October 9th at the age of 86, the country mourned deeply. Police blocked traffic in Mumbai, and thousands lined up at the National Centre of Performing Arts, co-founded by his predecessor JRD Tata, to pay their respects. Prime Minister Narendra Modi praised him as “a visionary business leader, a compassionate soul and an extraordinary human being,” while the opposition Congress party hailed him as “a titan of Indian industry and a philanthropist who shaped India’s corporate landscape.”
Often referred to as the "humble business tycoon," Tata led over 30 companies across 100 countries. Yet, despite his immense impact, he never appeared on billionaire lists, as Tata Group’s earnings were directed to Tata Trusts, reflecting a philanthropic tradition that predated modern figures like Bill Gates.
Tata’s journey began in 1962 when, after earning a degree in architecture from Cornell University, he returned to India to join the family business. He started humbly, living in a hostel for apprentices and gaining hands-on experience on the shop floor near blast furnaces. He later reflected that those early days, though tough, provided invaluable lessons. In 1991, Tata succeeded JRD Tata as chairman of Tata Sons and took the conglomerate to new heights.
Now, Noel Tata has been appointed the new chairperson of Tata Trusts. He is the half-brother of Ratan Tata and serves on the boards of several publicly listed Tata companies, including Tata Steel and Voltas. Known for his low-profile leadership style, Noel stands in contrast to Ratan Tata's more prominent public presence.
The legend’s UK connection
If Ratan Tata took any satisfaction in his Indian company acquiring prestigious brands from its former colonial ruler, he never showed it. The reserved and thoughtful Mumbai-based magnate led a wave of “reverse colonisation” in the 2000s, including Tata’s takeover of Tetley Tea for £271 million in 2000, Corus Steel for £6.2 billion in 2007, and Jaguar Land Rover (JLR) for $2.3 billion in 2008.
While UK firms outsourced services like call centres to India, Tata was bringing large segments of British industry into the fold with a straightforward strategy: cut costs by 10%, modernise operations, boost production, expand into Asian markets, and leverage Tata’s vertically integrated model for access to affordable raw materials, insulating the company from fluctuating commodity prices. This approach proved highly successful at Tetley and JLR.
Ratan Tata, the former chairman of the Tata Group, was a towering figure in Indian business, renowned for his strategic global acquisitions, including Tetley, Corus, and Jaguar Land Rover. His vision transformed the Tata Group, propelling Indian businesses onto the world stage and earning him global admiration.
One of Tata's most significant international recognitions came in 2014 when Queen Elizabeth II conferred upon him the Knight Grand Cross of the Order of the British Empire (GBE), making him the first Indian to receive this honour since India became a Republic in 1950. Reflecting on the recognition, Tata expressed his gratitude, stating, "I am deeply touched and feel greatly honoured to receive the recognition so graciously bestowed on me by Her Majesty. It has been a privilege to have our enterprises contribute positively to the growth and standing of the United Kingdom."
Tata had also received the Knight Commander of the Order of the British Empire (KBE) in 2009, acknowledging the vital role his leadership played in strengthening the India-UK relationship. He attributed these achievements to the trust and dedication of the people within Tata's UK enterprises, saying, “None of what we have achieved could have been possible without the unflinching commitment of our teams in the UK.”
The Indian High Commissioner to the UK, Vikram Doraiswami, recently led a moment of silence in his honour during a Diwali reception near the Houses of Parliament on October 10th. Addressing a gathering of parliamentarians, entrepreneurs, and community leaders, Doraiswami paid tribute to Tata’s contributions, stating, "No man has embodied the India-UK partnership quite as much as Ratan Tata did. Mumbai and London were both his home, and his influence, from Air India to Jaguar Land Rover, spanned across the globe."
Lord Karan Bilimoria, co-chair of the India All Party Parliamentary Group and founder of Cobra Beer, also praised Tata’s legacy, describing him as a "fellow Parsi" and a champion of India-UK ties. "Ratan Tata showed how Indian companies could successfully expand their global footprint," Bilimoria remarked.
Chandrajit Banerjee, Director General of the Confederation of Indian Industry (CII), echoed this sentiment, emphasising that Tata’s pioneering global vision had left an indelible mark. He added, “In his memory, it is fitting for the Indian industry to pledge to deepen the India-UK economic and commercial corridor.”
As India and the UK continue to strengthen their economic ties, Ratan Tata’s legacy endures as a powerful symbol of collaboration, innovation, and global leadership.
Message from Richard Hawkes, CEO, British Asian Trust
In the days since Ratan Tata died there have been tributes from across the globe for one of the world’s greatest business leaders – a man who was years ahead of his time in recognising the importance of businesses being run with values and compassion. Not only because it was the right thing to do, but because it would also lead to greater commercial success.
It is an honour for the British Asian Trust to add to these tributes. We have had the huge pleasure of knowing Mr Tata for many years and of enjoying a strategic partnership with Tata Trusts. As a result of this partnership, we have successfully established social finance in India, leading three pioneering Development Impact Bonds that are transforming the way that development programmes are both funded and delivered, as well as providing quality education for children, skilling and job opportunities, especially for women.
But perhaps nothing captures the kind of man Ratan Tata was better than in 2018 when our Royal Founding Patron, His Majesty The King, was going to present Mr Tata with the British Asian Trust Lifetime Achievement Award at a special event at Buckingham Palace. At the last minute, Mr Tata cancelled his trip to the UK after one of his beloved dogs fell critically ill! Now that really is compassion and kindness above self. Perhaps something we could all learn from.
It was a privilege for the British Asian Trust to have enjoyed such a great partnership with Ratan Tata and millions of lives are so much better for it.
