On Wednesday, 9th October, the Chairman Emeritus of Tata Sons, Ratan Naval Tata passed away at the age of 86 at Breach Candy Hospital following age-related health conditions.
He was known for his brilliant business mind and philanthropy. This business tycoon was known for both his humbleness and strong will as well. Even after being retired from the TATA company, Ratan Tata continued to support Indian start-ups by investing in them.
There’s an interesting story behind Ratan Tata acquiring Jaguar and Land Rover. In 1998, Ratan Tata introduced his dream project named Tata Indica. It was India’s first passenger hatchback car with a diesel engine. Ratan Tata decided to sell Tata motors to Ford.
Ratan Tata met Bill Ford, the chairman of the company. They held a meeting of three hours. During the meeting, Bill Ford humiliated Ratan Tata and asked why did he start the car business when he knows nothing about the passenger car segment. The ford officials said, “You do not know anything, why did you start the passenger car division at all.”
Ford offered a favour to the Indian company and said that they will buy their business. This meeting made Ratan Tata feel humiliated. The deal failed. Rata Tata decided to not sell the business and rejected the offer.
After 9 years, Ford was about to get bankrupted and Tata Motors had become a successful company. Ratan Tata bought Ford’s two big brands Jaguar and Land Rover. Ford thanked Tata for the favour. Ratan Tata acquired Jaguar and Land Rover.
After losing the gem of India on Wednesday late night, N Chandrasekaran, chairman of Tata Sons, shared a heartfelt message in his social media. He wrote, “For the Tata Group, Mr. Tata was more than a chairperson. To me, he was a mentor, guide and friend. He inspired by example. With an unwavering commitment to excellence, integrity, and innovation, the Tata Group under his stewardship expanded its global footprint while always remaining true to its moral compass.”
“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. Reinforcing all of this work was Tata’s genuine humility in every individual interaction,” he further added.