India Bids Farewell To Business Icon Ratan Tata

Mumbai: Thousands of people, including corporate leaders, politicians and celebrities, gathered in Mumbai on Thursday to pay their last respects to one of India's most respected business tycoons, Ratan Tata, who died aged 86.

His mortal remains were placed at the National Centre for Performing Arts in Mumbai for people to pay their respects.

His casket was wrapped in the Indian flag and covered with wreaths of white flowers.

Fellow business tycoon Mukesh Ambani, Home Minister Amit Shah and Bollywood star Aamir Khan were among those present to say goodbye.

Also in attendance was Ratan Tata's dog, Goa, accompanied by two Tata employees. The dog was rescued from the streets of Goa state, which gave it its name.

The tycoon, who had a reputation for being modest and shy, was known for his philanthropic work, including animal welfare, health and education.

Maharashtra state declared a day of mourning and his coffin was given a military salute as it was taken away for the funeral rites.

Ratan Tata took over as group chairman in 1991 and is credited with transforming it into a global powerhouse.

Known for his exemplary business acumen and philanthropic nature, as chairman he led various companies under the Tata conglomerate for more than 20 years, which had revenue of $165 billion in 2023-24.

Although in recent years Tata was not as active in the day-to-day running of the group, he was consulted on big decisions by the Tata Sons leadership, a senior company executive told Reuters.

Tata had been in a Mumbai hospital since Monday, but the cause of his death was not immediately made public.

The Tata Group is one of India's largest companies, with annual revenues in excess of $100bn (PS76.5bn), and he was one of India's most internationally-recognised business leaders.

Founded 155 years ago, the group straddles a business empire ranging from Jaguar Land Rover and Tata Steel, to aviation and salt pans.

During his 20-year tenure, the conglomerate made several high-profile acquisitions, including the takeover of Anglo-Dutch steelmaker Corus, UK-based car brands Jaguar and Land Rover, and Tetley, the world's second-largest tea company.

Some of those decisions paid off, while others - including a failed telecom venture and the Nano, which was billed as the world's cheapest car but flopped - lost money.

Tata was born in a traditional Parsi family in 1937. He studied architecture and structural engineering at Cornell University in the US.

In 1962, he joined Tata Industries - the promoter company of the group - as an assistant and spent six months training at a company plant in Jamshedpur.

From there, he went on to work at the Tata Iron and Steel Company (now Tata Steel), Tata Consultancy Services (TCS) and National Radio and Electronics (Nelco).

In 1991, JRD Tata, who had led the group for over half a century, appointed Ratan Tata as his successor. "He [JRD Tata] was my greatest mentor... he was like a father and a brother to me - and not enough has been said about that," Tata later told an interviewer.

In 2008, the Indian government awarded him the Padma Vibhushan, the country's second-highest civilian honour.

Prime Minister Narendra Modi hailed Tata as a "visionary business leader, a compassionate soul and an extraordinary human being".