Indian tycoon Ratan Tata dies aged 86

Indian tycoon Ratan Tata has died aged 86, says the Tata Group, the conglomerate he led for greater than 20 years.

Tata was one among India’s most internationally recognised enterprise leaders.

The Tata Group is one among India’s largest corporations, with annual revenues in extra of $100bn (£76.5bn).

In an announcement saying Tata’s demise, the present chairman of Tata Sons described him as a “really unusual chief”.

Natarajan Chandrasekaran added: “On behalf of all the Tata household, I lengthen our deepest condolences to his family members.

“His legacy will proceed to encourage us as we try to uphold the ideas he so passionately championed.”

Throughout his tenure as chairman of the Tata Group, the conglomerate made a number of high-profile acquisitions, together with the takeover of Anglo-Dutch steelmaker Corus, UK-based automobile manufacturers Jaguar and Land Rover, and Tetley, the world’s second-largest tea firm.

A profile revealed within the Economist journal in 2011 known as Tata a “titan”, crediting him with reworking the household group into “a worldwide powerhouse”.

“He owns lower than 1% of the group that bears his household title. However he’s a titan nonetheless: essentially the most highly effective businessman in India and one of the vital influential on this planet,” the journal stated.

In 2012, he retired as chairman of the group and was appointed chairman emeritus of Tata Sons, the group’s holding firm.

Tata was born in a conventional Parsi household in 1937. He studied structure and structural engineering at Cornell College within the US.

In 1962, he joined Tata Industries – the promoter firm of the group – as an assistant and spent six months coaching at an organization plant in Jamshedpur.

From right here, he went on to work on the Tata Iron and Metal Firm (now Tata Metal), Tata Consultancy Companies (TCS) and Nationwide 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 biggest mentor… he was like a father and a brother to me – and never sufficient has been stated about that,” Tata later informed an interviewer.

In 2008, the Indian authorities awarded him the Padma Vibhushan, the nation’s second-highest civilian honour.