Editorial: India’s Ratan

Ratan Tata symbolised the aspirations of India’s middle class

In a country that nurses cultural bias against businessmen, often treating them with mistrust, Ratan Tata was truly an exception; a national icon and an inspirational business tycoon. He symbolised the aspirations of India’s middle class. What made him a perfect role model was his extraordinary humility, compassion, empathy and his commitment to ethical corporate practices and philanthropy even while reaching the dizzy heights of success as a global business leader. Ratan Naval Tata, who passed away in Mumbai after a brief illness at the age of 86, made contributions that went beyond the boardroom. His demise leaves a vacuum at the helm of the powerful Tata Trusts, a collective of charities that own about 66% of Tata Sons, which in turn controls all the major listed Tata firms. He was credited with transforming the Tata Group from a traditional Indian business house into a global conglomerate. The company grew into a sprawling international enterprise with a portfolio ranging from software to sports cars. One of his last major achievements was the successful reacquisition of Air India in 2021, restoring it to the Tata Group nearly 90 years after it was nationalised. It’s truly remarkable for a business magnate to build an enduring legacy of integrity and innovation in a country that was driven by the socialist model and strict state control before making a delayed tryst with economic liberalisation. Tata’s visionary leadership not only shaped the Tata Group, which expanded its operations to over 100 countries, but also set a global benchmark for ethical business practices.

For most Indians, Tata products form an integral part of their daily lives, starting the day with Tata Tea, surfing the internet with Tata Photon, watching Tata Sky programmes on television, driving Tata cars, and using myriad products made with Tata steel. Though other family-led business enterprises have since overtaken the Tata Group in terms of revenues and valuation, none of the new magnates enjoy the public esteem and respect that Ratan Tata earned. He was renowned for disbursing a majority of his wealth to philanthropy and for his investments in start-up businesses by young, underfinanced entrepreneurs. Tata became chairman of the $100 billion steel-to-software conglomerate in 1991 when his uncle JRD Tata stepped down — the passing of the baton coming just as India started opening up its economy to the world. He stepped down as chairman in 2012 but was later named chairman emeritus of Tata Sons and other group companies, including Tata Motors and Tata Steel. When Tata Group acquired the iconic British brands — Jaguar, Land Rover, Tetley and Corus Steel — it was hailed as a mark of ‘reverse colonialism’. In 2009, Tata fulfilled his promise to make the world’s cheapest car accessible to the middle class. The Tata Nano, priced at Rs 1 lakh, became a symbol of innovation and affordability.