Veteran industrialist and Tata Group's chairman emeritus Ratan Tata passed away at a Mumbai hospital on Wednesday night. He was 86. Tata was hospitalised on Monday owing to age-related issues, and to control his blood pressure, said media reports.

 

Tata was one of India's most internationally recognised business leaders. The Tata Group, the conglomerate which he led for more than two decades, is one of India's largest companies, with annual revenues in excess of $100 billion.

 

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.

 

"His legacy will continue to inspire us as we strive to uphold the principles he so passionately championed."

 

Indian Prime Minister Narendra Modi himself led the nation in mourning the business icon. 

 

PM Modi took to X and expressed deep sorrow over the death of the renowned industrialist. In a heartfelt tribute, PM Modi acknowledged Tata’s unwavering leadership of one of India’s oldest and most prestigious business houses.

 

In an emotional message, Modi hailed Tata as a visionary business leader, compassionate soul and an extraordinary human being.

 

"He provided stable leadership to one of India’s oldest and most prestigious business houses. At the same time, his contribution went far beyond the boardroom. He endeared himself to several people thanks to his humility, kindness and an unwavering commitment to making our society better," PM Modi said.

 

The Prime Minister also praised Tata for his commitment to philanthropy and social causes, particularly in areas such as education, healthcare, sanitation, and animal welfare.

 

"One of the most unique aspects of Shri Ratan Tata Ji was his passion towards dreaming big and giving back. He was at the forefront of championing causes like education, healthcare, sanitation, animal welfare to name a few," he added.

 

President Droupadi Murmu also condoled Tata's death and said that India had lost an icon who blended corporate growth with nation building, and excellence with ethics, reported PTI.

 

"A recipient of Padma Vibhushan and Padma Bhushan, he took forward the great Tata legacy and gave it a more impressive global presence. He inspired seasoned professionals and young students alike," she stated.

 

Maharashtra Chief Minister Eknath Shinde announced that industrialist Ratan Tata will be accorded state funeral.

 

Shinde earlier today arrived at the Breach Candy Hospital in the state capital, where Tata was admitted. Reliance Industries Chairman Mukesh Ambani also arrived at the Mumbai Hospital, stated the report.

 

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, reported BBC.

 

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".

 

"He owns less than 1% of the group that bears his family name. But he is a titan nonetheless: the most powerful businessman in India and one of the most influential in the world," the magazine said.

 

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