The man who innovated Tata Steel dies

Ratan Tata, the Indian entrepreneur who transformed Tata Group into a multi-billion-dollar conglomerate, has passed away at the age of 86. Tata led the company for more than 20 years.

He took over the reins of Tata Group from his uncle in 1991, amid a power struggle within the company’s leadership. Despite the internal challenges, Ratan Tata unified the leadership and set out to modernise the company’s image. His efforts paid off and in 2008 Business Week named Tata Group one of the ten most innovative companies in the world.

Global expansion

Tata expanded the group significantly through international acquisitions, turning it into a conglomerate with more than 100 subsidiaries. In the Netherlands, Tata Group is best known for its 2007 acquisition of the British-Dutch steel company Corus, a successor to Hoogovens. Today, Tata Group remains the primary shareholder of Tata Steel in IJmuiden.

Beloved figure

Ratan Tata was a widely respected figure in India, according to media reports of his death. He was known for his calm demeanour, modest lifestyle and philanthropic work. He stepped down as chairman of Tata Group in 2012 but continued to make a name for himself as a prominent investor in Indian start-ups. In 2008, Tata was awarded the Padma Vibhushan, India’s second-highest civilian honour.
He never married and had no children.