New Delhi: Prime Minister Narendra Modi has expressed his condolences on the death of Ratan Tata, a doyen of industry and philanthropist, calling him "a visionary business leader, a 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," read PM Modi's post on X, formerly Twitter.
The 86-year-old Chairman Emeritus of one of India's biggest conglomerates, Tata Sons, died in Mumbai today after a long ailment. On Monday, he had dismissed speculation about his health in a social media post, saying he was undergoing age-related routine medical investigations.
In his message Tata Sons chairman N Chandrasekharan described him as "a truly uncommon leader whose immeasurable contributions have shaped not only the Tata Group but also the very fabric of our nation".
"Mr. Tata's dedication to philanthropy and the development of society has touched the lives of millions. From education to healthcare, his initiatives have left a deep-rooted mark that will benefit generations to come," he added.
Mr Tata, who inherited the British-period legacy of his grandfather Jamshedji Naoroji Tata, had converted the Tata Group to a global conglomerate that brought under a single umbrella British automotive giants Jaguar and Land Rover, American luxury hotels chain Ritz Carlton, and Italian aerospace manufacturer Piaggio.
Alongside, it brought out Nano, the tiny "lakhtakia" - the Rs 1 lakh car - that carried the weight of the aspirations of urban and rural masses with limited means.
In 22 years as Chairperson of the Tata Group, profits and revenues grew a staggering 50 and 40 times; in 2011-12 the latter breached the $100 billion mark for the first time.
In 2000, Ratan Tata received the Padma Bhushan, the third highest civilian honour in India, which was followed by a Padma Bhushan, the second highest, in 2000.