A tribute to Ratan Tata
India’s business tycoon, Ratan Tata, recently died at age 86. Tata was one of India's most internationally recognised business leaders. Tata’s dedication to philanthropy and the development of society has touched the lives of millions. From education to healthcare, his initiatives have left a deep-rooted mark that will benefit generations to come.
Tata, who joined the Tata Group in 1962, assumed its leadership in 1991 after his predecessor, J.R.D. Tata, passed away in Geneva, Switzerland. By coincidence or destiny, his taking over coincided with the opening-up of India’s economy and the resulting reforms. By the time he decided to retire in 2012, when he had turned 74, Tata Group’s revenue totaled $100 billion.
One of the country’s most revered business leaders, Tata was a pioneer in business who did not shy away from taking bold bets. Cementing the Tata brand among Indian households and making the country’s largest conglomerate a name outside India will be among his most significant legacy. This culminated when Tata regained control of Air India, the flagship carrier, in January 2022.
The crowning moment for the Tata group since the start of the century was the public offering of Tata Consultancy Services (TCS) in 2004. Today, TCS is the country’s largest information technology services company. It accounts for 90% of Tata Sons’ total profits and returns over $4 billion in dividends every year.
Back in 2005, the Ministry of Corporate Affairs selected TCS to complete the e-governance project that allowed corporate filings to be completed over the web. This saw all directors of companies in India getting a unique eight-digit number. Ratan Tata was the first businessman to get the unique number: Tata’s Director Identification Number is 00000001.
