Important Facts For Prelims
Contributions and Legacy of Ratan Tata
- 10 Oct 2024
- 4 min read
Why in News?
Recently, Ratan Naval Tata, the former chairman of Tata Group who became a symbol of India's economic resurgence in the 21st century, passed away at a Mumbai hospital at the age of 86.
Who was Ratan Tata?
- About:
- Ratan Naval Tata was a respected Indian businessman and former chairman of Tata Group, one of India’s largest conglomerates.
- He was awarded the Padma Bhushan in 2000 and the Padma Vibhushan in 2008.
- He graduated in architecture from Cornell University before returning to India in 1962 to join the Tata Group, founded by his great-grandfather, Jamsetji Tata.
- He was a licensed pilot, known for his quiet demeanour, relatively modest lifestyle and philanthropic initiatives.
- Ratan Tata remained a visionary leader and a compassionate figure, earning widespread respect in both business and social circles.
- Achievements:
- Ratan Tata played a key role in transforming Tata Group into a global powerhouse, with ventures spanning industries such as steel, automobiles, software, and telecommunications.
- Early in his career, he worked with several Tata companies, including Tata Motors (formerly Telco) and Tata Steel, and revitalised the National Radio & Electronics Company.
- In 1991, he succeeded J.R.D. Tata as chairman of Tata Group.
- He implemented significant organizational reforms such as enforcing retirement ages and promoting young talent to leadership roles.
- He was also awarded with:
- Assam Baibhav by Government of Assam in 2021.
- Honorary Officer of the Order of Australia by King Charles III in 2023.
- Honorary Doctor of Science by IIT Bombay in 2008
- Honorary Knight Grand Cross of the Order of the British Empire (GBE) by Queen Elizabeth II in 2014
- Honorary Citizen Award by Government of Singapore in 2008.
- Contributions:
- Tata set up Tata Teleservices in 1996 and took Tata Consultancy Services (TCS) public in 2004, capitalising on the IT boom.
- His leadership marked significant international acquisitions, including:
- The purchase of Tetley Tea in 2000.
- Acquisition of VSNL (Videsh Sanchar Nigam Limited) in 2002.
- The acquisition of Corus Steel in 2007, one of the largest takeovers by an Indian company.
- The acquisition of Jaguar and Land Rover from Ford in 2008.
- Tata played a key role in Tata Group's acquisition of Air India from the government in January 2022.
- He also launched the Tata Nano, a low-cost car aimed at providing affordable transportation to the Indian masses.
- After stepping down from active leadership, Tata became a prominent investor in Indian startups, backing companies such as Paytm, Ola Electric, and Urban Company.
UPSC Civil Services Examination, Previous Year Question (PYQ)
Q. Consider the following statements in respect of Bharat Ratna and Padma Awards:
- Bharat Ratna and Padma Awards are titles under the Article 18(1) of the Constitution of India.
- Padma Awards, which were instituted in the year 1954, were suspended only once.
- The number of Bharat Ratna Awards is restricted to a maximum of five in a particular year.
Which of the above statements are not correct?
(a) 1 and 2 only
(b) 2 and 3 only
(c) 1 and 3 only
(d) 1, 2 and 3
Ans: (d)
