Ratan Tata, the ex-Chairman of the Tata Group of Companies, is a prominent Indian industrialist known for his leadership and philanthropy. With his extensive experience in the family business and his visionary approach, he transformed Tata into a global brand. Under his guidance, the organization achieved remarkable success and expanded its overseas revenues. Additionally, Ratan Tata has played significant roles in various organizations and is recognized as a leading philanthropist. Even after retirement, he continues to be a guiding force for his conglomerate, inspiring with his pioneering ideas and positive outlook.
Quick Facts
- Indian Celebrities Born In December
- Also Known As: Ratan Naval Tata
- Age: 85 Years, 85 Year Old Males
- Family:
- Father: Naval Tata
- Mother: Sooni Tata
- Siblings: Noel Tata
- Hoteliers
- Telecommunication
- Height: 5’10” (178 cm), 5’10” Males
- Founder/Co-Founder: Tata DoCoMo, Tata Teleservices
- Education: Cornell University, Harvard Business School, Harvard University, Bishop Cotton School, The Cathedral & John Connon School, Campion School, Mumbai
- Awards: Padma Bhushan (2000), Medal of the Oriental Republic of Uruguay (2004), Padma Vibhusan (2008), Oslo Business for Peace Award (2010), Honorary Knight Grand Cross of The Order of the British Empire (2014)
Childhood & Early Life
Ratan Tata was born on December 28, 1937 in Surat, India, to Naval Tata and Sonoo. Naval Tata was the adopted son of the Jamsetji Tata’s younger son Ratanji Tata. Jamsetji Tata was the founder of the Tata Group of Companies. Ratan Tata has a brother, Jimmy, and a step-brother, Noel Tata.
When he was ten, his parents got separated and thereafter, he and his brother were brought up by his grandmother, Navajbai Tata. He received his early education from the Campion School, Mumbai and finished his schooling from the Cathedral and John Connon School, Mumbai. In 1962, he obtained his B.S. in architecture with structural engineering from Cornell University, U.S.A. Later, he got enrolled at the Harvard Business School and completed an Advanced Management Program in 1975.
Career
In 1962, Ratan Tata started his career with the Tata Steel division where he shoveled stones and worked with the furnaces along with the blue-collar employees. It was a difficult job but helped him gain a better understanding and respect for his family business.
In 1971, he was appointed as the Director-in-Charge of the National Radio & Electronics Company Limited (NELCO) in order to help its struggling finances. He worked towards building a better consumer electronics division but the economic recession and union strikes prevented him from achieving success.
In 1977, he was moved to Empress Mills, a struggling textile mill within the Tata Group. He proposed a plan for the mill but the other Tata executives rejected it and the mill was shut down. Later, he was moved to the Tata Industries.
In 1991, J.R.D. Tata appointed him as the new Chairman of the Tata Group of Companies. This decision came under scrutiny following objections from other executives of the company and questions were raised regarding his ability to run the corporation. But he succeeded in improving the financial success of the industries and expanded the growth of the organization under his leadership. He transformed the management and vision of the division, and managed to bring in significantly larger dividends.
He also became a member of the Prime Minister’s Council on Trade and Industry. He served on the advisory board of the RAND’s center for Asia Pacific Policy and is also an active participant in India’s AIDS initiative program. He also holds the membership of the international advisory board of the Mitsubishi Cooperation, the American International Group, JP Morgan Chase and Booze Allen Hamilton.
On his 75th birthday, i.e, on 28 December 2012 he resigned from the post of Chairman of Tata Group and was succeeded by Cyrus Mistry, managing director of Shapoorji Pallonji Group. Even after retirement, he is still an active businessman and invests in upcoming promising business ventures.
Major Works
As the Chairman of Tata Group, Ratan Tata was able to achieve international recognition and prestige for his company. The astounding financial success of the company brought the Tata Group to the New York Stock Exchange and under his supervision the corporation became a global brand by acquiring many companies including Tetley, Jaguar Land Rover, and Corus. He was instrumental in the conception and building of Tata Nano and Tata Indica cars.
Awards & Achievements
Ratan Tata has received numerous awards and honors throughout his career. In 2000, he was conferred the Padma Bhushan, the third highest civilian honor awarded by the Government of India. He has also received awards from the governments of Uruguay, Italy, and the United Kingdom. In 2010, he won the Oslo Business for Peace Award presented by the Business for Peace Foundation.
Personal Life & Legacy
Ratan Tata is a bachelor and is known for his low profile lifestyle. He resides in a simple house in Mumbai and drives around in a Tata Sedan. He is also a notable philanthropist and more than 65% of his share is invested in charitable trusts. One of the primary goals of his life has been to raise the quality of life of Indians along with human development.