The former chairman of Tata Group, who was widely credited with transforming the company into one of the world's largest conglomerates, has passed away in Mumbai.

Ratan Tata, the former chairman of India's vast Tata Group conglomerate, passed away on Wednesday at the age of 86, as confirmed by a statement from the Tata Group.

"It is with a profound sense of loss that we bid farewell to Mr. Ratan Naval Tata, a truly uncommon leader whose immeasurable contributions have shaped not only the Tata Group but also the very fabric of our nation," N. Chandrasekaran, Chairman of Tata Sons, wrote in a statement.

Earlier, on Monday, Tata had shared on social media that he was undergoing routine medical examinations at a Mumbai hospital due to his age and unspecified health conditions.

Indian Prime Minister Narendra Modi paid tribute to Tata, calling him a visionary leader 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 boardrooms," Modi said on X.

Google CEO Sundar Pichai highlighted Tata's deep care for India, praising his business and philanthropic achievements, especially his role in nurturing modern business leadership in the country. Mukesh Ambani, Chairman and Managing Director of Reliance Industries, referred to Tata’s death as a loss felt by every Indian.

Ratan Tata was born in Bombay (now Mumbai) in 1937, into a Zoroastrian Parsi family. He pursued architecture at Cornell University in the United States before returning to India in 1962 to join the family business, which had been founded under British colonial rule. Tata began his career working in Tata steel and motor concerns. His early experiences of living in a hostel for apprentices and working on the shop floor near blast furnaces gave him firsthand insight into life "hand-in-hand with the workers."

Tata assumed leadership of Tata Group in 1991, succeeding his uncle. His tenure coincided with a transformative period when the Indian economy embraced free-market reforms.

The Tata Group, originally founded in 1868 as a trading firm by Jamsetji Tata, recorded $165 billion (€150.85 billion) in revenue for 2023-24. The conglomerate now operates more than 30 companies across 10 sectors, in over 100 countries, employing over 1 million people, as per the company’s website.

During his more than 20 years at the helm, Tata was credited with steering the company toward global markets. Under his leadership, the group made significant acquisitions as India began to open up to the world economy. Notable among these was the purchase of British tea company Tetley in 2000. In 2007, Tata orchestrated India’s largest-ever takeover of a foreign firm at the time, acquiring Anglo-Dutch steelmaker Corus for $13 billion (€12 billion).

Tata also had to navigate internal opposition from older board members, which led him to institute a mandatory retirement age policy within the company. His forward-looking leadership was not always welcomed, but he pushed forward with his vision.

In 2021, the Tata Group acquired state-owned Air India, the airline the company had originally launched in 1932 before it was nationalized. The group later merged its other full-service carrier, Vistara, which it had started in partnership with Singapore Airlines, with Air India.

Reflecting on his leadership style, Tata remarked in a 2013 interview with the Stanford Graduate School of Business, "It was the quest for growth and changing the ground rules to say that we could grow by acquisitions which earlier we had never done." He was also behind the creation of the Indica, the first car designed and built in India. Additionally, Tata introduced the Tata Nano, which became the world’s cheapest car, priced at around $1,200. Although initially marketed as an affordable option for the masses, the Nano was discontinued after 10 years due to safety concerns.

Tata officially retired as chairman of Tata Sons on his 75th birthday in December 2012. He was succeeded by Cyrus Mistry, who was later removed. However, Tata returned in 2016 to serve as interim chairman until N. Chandrasekaran was appointed as a permanent successor in early 2017.

Post-retirement, Ratan Tata, a lifelong bachelor, focused on leading the Tata Group's charitable initiatives and investing in some of India’s most promising start-ups.

Over the course of his life, Tata was honored with numerous awards, including the Padma Bhushan in 2000 and the Padma Vibhushan in 2008, two of India's highest civilian honors.