Ratan Tata: A Visionary Who Weathered Turbulence To Build An Ethical Business Empire

Tata's death was announced in a statement by Tata Group Chairman Natarajan Chandrasekaran, who called him "a truly uncommon leader whose immeasurable contributions have shaped not only the Tata Group but also the very fabric of our nation."

For nearly three-and-a-quarter decades, Tata as chairman of the empire started by his ancestor Jamshedji Nusserwanji Tata in 1870, expanded the group into 100 countries and revenues topping US $156 billion as of March 2024.

He was known for thinking big and out of the box, taking the Tatas into areas the venerable house had never before considered and that boldness and vision paid off.

Bold Leadership 

Even in his late 80s, Ratan Tata led the Tata Group into the semiconductor industry, aiming to reduce India’s dependence on foreign technology. Establishing Tata Electronics was a bold step in positioning India as a key player in the global tech space, embodying his belief in India’s potential for innovation.

Earlier this year Tata Electronics’ announced a partnership with Powerchip Semiconductor Manufacturing Corporation (PSMC) of Taiwan to set up India’s first-ever 12-inch semiconductor fabrication plant (commonly called a fab) in Dholera, Gujarat.

With a hefty investment of Rs 91,000 crore (approximately US $11 billion), this giant fab plant will have a monthly capacity to produce 50,000 wafers, which are the building blocks of semiconductor chips. 

However, some of Ratan Tata’s most significant failures were as pronounced as his successes. The Tata Nano, launched as “the world’s cheapest car,” struggled in the market.

His ambitious acquisition of Corus Steel for $13.1 billion in 2007 also faced hurdles due to the 2008 financial crisis, resulting in the eventual sale of significant UK assets.

Yet, his perseverance with global brands like Jaguar Land Rover ultimately consolidated his reputation as an international strategist.

Turbulent Skies

Although bold and ambitious, Ratan Tata's foray into the airline industry has been fraught with turbulence and unmet expectations.

His entry into aviation began with the launch of Vistara, a joint venture with Singapore Airlines, and AirAsia India, a partnership with AirAsia Berhad.

While Vistara aimed to establish a premium brand in the skies and AirAsia India sought to capture the low-cost segment, both struggled to carve out a strong presence in a market dominated by heavyweights like IndiGo.

Critics argued that these ventures diluted focus and stretched resources without yielding the desired results.

The most hotly debated move, however, was the high-profile acquisition of Air India in 2022. The national carrier had long been plagued by inefficiency, debt, and poor service standards. For many it was a symbolic white elephant—a legacy burden for whichever entity took it over.

Despite these concerns, Tata’s emotional attachment to Air India, which J.R.D had initially established before being nationalised, led him to reclaim the airline.

However, strategic changes, an ambitious fleet expansion plan, and the consolidation of Vistara into Air India, may yet give Tata a world class airline which will live up to his legacy  and reputation.

Boardroom Battle

One of the most turbulent chapters in Ratan Tata’s later years was his public and protracted fallout with Cyrus Mistry, his handpicked successor at Tata Sons.

Mistry, who took over the reins as chairman in 2012, was expected to carry forward Tata’s legacy. However, in October 2016, the board’s sudden decision to oust Mistry led to a dramatic and bitter legal battle that gripped India’s corporate world.

Tragically, the saga ended in September 2022 when Cyrus Mistry died in a car accident, bringing a sombre closure to a contentious episode.

Style & Substance

Ratan Tata was often seen in a crisp blue or white shirt paired with an unassuming tie, perfectly tailored suits, and polished shoes that never drew too much attention but subtly spoke of refinement.

With his neatly combed silver hair and disarming smile, his simplicity stood in contrast to the flashy excess often seen in corporate circles.

There was a timeless grace in how he presented himself—whether sitting at high-profile board meetings or driving his own Tata Nano on Mumbai’s bustling streets.

He seemed to embody the quiet elegance of a bygone era that balanced professionalism with humility. This meticulous attention to detail extended to his leadership style, where he led by example, choosing substance over style and value over vanity.

Group Defined By Philanthrophy

Tata group's philathrophic work is legendary - from starting world class hospitals and eductational institutions to running programmes to educate and change the lives of tribal women in states like Jharkhand and Odisha to working on climate change - Ratan Tata and his predecessors have done it all.

Some 66  per cent of Tata Sons’ equity is held by the Tata Trusts and dividends flow directly to support the philanthropic work of the trusts. Tata Sons is the holding company of the huge Tata empire.

Ratan Tata leaves behind a legacy defined not by revenue but by the countless lives he impacted, the ethical path he charted, and his unwavering belief that business, at its core, should serve society.