MUMBAI: 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.
“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.
Born in 1937 in Bombay, now Mumbai, Ratan Tata originally planned to be an architect and was working in the United States when his grandmother, who raised him, asked him to return home and join the sprawling family business.
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He started out in 1962 at TISCO, now known as Tata, staying in a hostel for apprentices and working on the shop floor near blast furnaces.
He took over the family empire in 1991, riding the wave of the radical free-market reforms India had just unleashed that year.
The Tata Group said his philanthropy work “touched the lives of millions.”
“From education to healthcare, his initiatives have left a deep-rooted mark that will benefit generations to come,” the company added.
Indian Prime Minister Narendra Modi hailed Tata as a “visionary business leader, a compassionate soul and an extraordinary human being”.
Paying tribute on X, formerly known as Twitter, Modi recounted “countless interactions” with Tata and said he was “extremely pained” by his death.