Ratan Tata, an Indian business magnate who once headed the Tata Group conglomerate, has died. He was 86 years old.
“It is with a profound sense of loss that we bid farewell to Mr. Ratan Naval Tata, a truly uncommon leader whose immeasurable contributions have shaped not only the Tata Group but also the very fabric of our nation,” the company said in a statement.
“Known for his visionary leadership, Tata transformed the Tata Group into a global powerhouse, leading landmark acquisitions like Tetley Tea, Corus Steel, and Jaguar Land Rover,” the statement continued. “His contributions extended far beyond business, as he was equally renowned for his philanthropy, humility and kindness.”
Tata’s cause of death is unknown. He had reportedly been in the ICU at a hospital in Mumbai.
Tata was born in 1937 and came to America to study architecture and structural engineering at Cornell. He returned to India in 1962 to work at the firm his great-grandfather, Jamsetji Tata, founded in the 19th century. He became chairman of the group in 1991, steering its many companies into the 21st century and expanding its reach beyond India in industries like automobiles and telecommunications.
He stepped down as chairman in 2012 to focus on philanthropy and angel investing while acting as chairman emeritus for the conglomerate.
In a post on social media, Indian Prime Minister Narendra Modi memorialized Tata as “a visionary business leader, a compassionate soul and an extraordinary human being.”
“One of the most unique aspects of Shri Ratan Tata Ji was his passion towards dreaming big and giving back,” Modi wrote. “He was at the forefront of championing causes like education, healthcare, sanitation, animal welfare, to name a few.”
