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Current Affairs-Topics
Ratan Tata: Titan of Industry and Philanthropy Dies at 86
|
Ratan Tata, a renowned Indian businessman and philanthropist, passed away at the age of 86 in Mumbai. Born in 1937, Tata joined Tata Group in 1961 and became Chairman of Tata Sons in 1991. He led Tata Group for 21 years. |
Life and Career Highlights
- Born on December 28, 1937, in Mumbai, India
- Education: Cornell University (Architecture), Harvard Business School (Advanced Management Program)
- Joined Tata Group in 1961, working on the shop floor of Tata Steel
- Became Chairman of Tata Sons in 1991, succeeding J.R.D. Tata
- Led Tata Group for 21 years (1991-2012)
- Briefly returned as interim chairman from October 2016 to February 2017
- Passed away on October 9, 2024, at Breach Candy Hospital, Mumbai, aged 86
Business Achievements and Legacy
- Transformed Tata Group from India-centric to global conglomerate
Key acquisitions under his leadership:
-
- Tetley (2000) for $450 million
- Corus Steel (2007) for £6.2 billion
- Jaguar Land Rover (2008) for $2.3 billion
- Launched Tata Nano, the world's most affordable car
- Expanded Tata Group's presence in IT sector with TCS going public in 2004
- Increased group's revenue from ₹10,000 crore in 1991 to over $100 billion by 2012
- Grew international revenue to 65% of total by 2012
- Established Tata as a globally recognized brand
- Implemented reforms within Tata Group, focusing on succession planning and younger talent
Philanthropic Endeavors
- Heavily involved with Tata Trusts, supporting education, health, and development initiatives
- Donated approximately 60-65% of his income to charity
- Made significant contributions to Cornell University, including a $50 million donation in 2008
- Supported cancer research, rural development, and disaster relief efforts
- Received Assam Baibhav award in 2021 for improving cancer care in Assam
- Known for his commitment to social responsibility over personal wealth accumulation
Honors and Personal Life
- Received Padma Vibhushan (2008) and Padma Bhushan (2000), India's second and third highest civilian honors
- Appointed Knight Grand Cross of the Most Excellent Order of the British Empire
- Awarded Lifetime Achievement Award by the Rockefeller Foundation
- Known for his humble lifestyle and low-profile personal life
- Never married, maintained close ties with family
- Passionate about cars, planes, and architecture
- Respected globally for his business acumen and ethical leadership
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