INDIA: Indian tycoon Ratan Tata has died aged 86, says the Tata Group, the conglomerate he led for more than two decades. Tata was one of India’s most internationally recognised business leaders.
The Tata Group is one of India’s largest companies, with annual revenues in excess of $100bn (£76.5bn). In a statement announcing Tata’s death, the current chairman of Tata Sons described him as a “truly uncommon leader”.
Natarajan Chandrasekaran added: “On behalf of the entire Tata family, I extend our deepest condolences to his loved ones.
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“His legacy will continue to inspire us as we strive to uphold the principles he so passionately championed.” During his tenure as chairman of the Tata Group, 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.
UK Business Secretary Jonathan Reynolds said in tribute that Tata was a “titan of the business world” who “played a huge role in shaping British industry”. A profile published in the Economist magazine in 2011 called Tata a “titan”, crediting him with transforming the family group into “a global powerhouse”.