Ratan Tata, Indian industrialist, philanthropist | Life story and events

Early Life

Ratan Tata was born on 28 December in 1937 in one of the richest families in India. He was born to Naval Tata and Sonoo in Gujarat. When Ratan Tata was 10 years old his parents got separated and was brought up by his grandmother Navajbai Tata.

“I had a happy childhood, but as my brother and I got older, we faced a fair bit of ragging and personal discomfort because of our parent’s divorce, which in those days wasn’t as common as it is today. But my grandmother brought us up in every way.”

Ratan Tata completed his schooling at Cathedral and John Connon School. Later he completed his engineering from Cornell University New York in 1962. He went to the seven-week Advanced Management Program of Harvard Business School — an institution which he has since endowed in 1975.

“By the time I finished 6 years in Jamshedpur, architecture had become my hobby — I enjoyed designing homes for myself and my mother, but apart from that, my life was dedicated to the business,” Tata said.

Ratan Tata was always keen about cars since his childhood. He got a job offer from IBM Company but J. R. D. Tata suggested Tata to join Tata steel industry in India. It was when Ratan Tata came back to Jamshedpur and worked in Tata Steel plant in 1961.  He started working as a general worker in Tata Steel.

Career

Later in 1991, J. R. D. Tata resigned from his chairmanship and made Ratan Tata as the chairman of Tata Steel.

“If you were to find the publications of that time, the criticism was personal — JRD got clubbed with nepotism and I was branded as the wrong choice,” he said.

Many board people had opposed him to become the Chairman by saying that he had no experience there and will not be able to handle crores of business. Overhand Ratan Tata proved them they were wrong, as the value of the company increased from 10,000 crores to 6,00,000 crores.

Even after such a development Ratan Tata did not remain among the richest people in India or in the world. As 66% of the profit from Tata’s company was transferred to charity run by Ratan Tata. If Ratan Tata did not run his charity he would be on the top 3^rd richest man in the world.

During his service Ratan Tata has undergone many insults. In 1998, Ratan Tata launched a car named Tata Indica. The car failed in the first year. The board members had suggested Ratan Tata to sell the car to Ford Company which was accepted by him. To sell the car Ratan Tata and his Committee members had gone to America. He was insulted by the Ford Company Chairman Bill Ford by saying “if you don’t know to manufacture the cars then why did you establish a car company.” Without having a deal with them Ratan Tata returned to Mumbai.

After few years Tata Indica was in profits. At that time the ford company launched luxiorious car like Jaguar and Land rover. The Ford was at loss. Ratan Tata offered Ford Company that he was ready to buy the cars. This time Ratan Tata made the Ford committee members to visit Mumbai to talk a deal.

Ratan Tata had a takeover for 9300crores and later he made Jaguar and Land Rover Company into profits. The person who insulted Ratan Tata made the same person come to him. He also bought Corus in Europe, and Tetley Tea that belonged to England and combined to Tata Tea. Now Tata Tea is the second largest tea company in the world. Ratan Tata gave jobs to British people in his company. He also bought 22 international companies and merged to Tata Company and made Tata as an international brand. Tata’s did not aim for India to become an economic super powered company. They aimed for India to become a delighted country. They worked more for middle and lower middle class Indian people.

Launching of TATA Nano

Once Ratan Tata saw a family moving in a two-wheeler vehicle and felt depressed. He decided to build a car for middle class people who can afford it. It was the launch of Tata Nano to India. It had the maximum budget of Rs 1 lakh. Most of the people made fun of him and said he would not be able to build a car with such a budget. But Tata ignored all these and later the car was released. Due to some drawbacks sales of the car were less. Manufacturing of Nano cars there was thousands of crores loss to the company. But he was not ready to stop the manufacturing as it was his dream to provide cars to the middle class Indians who can’t afford it.

He wanted to come up with a low cost car that would attract Indians who relied on motorcycles for transportation. Ratan Tata had to suffer lots of issues during his service. The Nano car manufacturing plant was ready in West Bengal, but the local peoples protested there. Ratan Tata did not want people to get hurt, so he transported the automobile plant to Gujarat. They felt very difficult and uncomfortable to transport. In 2005, when it was first available customers could purchase the Nano for just $2,200. But the price has almost doubled now. The car is terribly undersold according to the Tata group’s high expectations. Ratan said that the car had great potential in the developing world. The early opportunities were wasted due to some problems. Later there was a terrorist attack on Taj hotel and he faced many problems.

Personal Life

Ratan Tata did not get married. He said that he had come close to marriage 4 times but had backed out of each relationship each time out of fear. In an interview he said that, He was in love with a girl when he stayed in America. After his studies he had to come back to India and his lover tried to visit India but the war between India and China was announced. She was unable to visit India and later she got married to another person. Thereafter he did not think of marriage.

“So I came back to visit her and thought that the person I wanted to marry would come to India with me, but because of the 1962 Indo-China war, her parent’s weren’t okay with her making the move anymore, and the relationship fell apart,” he added.

Resignation

After taking the company to a greater height Ratan Tata resigned from all his responsibilities in the year 2012. He resigned on his 75^th birthday. His responsibilities were reassigned to Cyrus Mistry, son of Pallonji Mistry. He takes up to serve as a chairman of some of the major trusts of Tata Group. He has also been a member of the Prime Minister’s council in Trade and Industry. Ratan has now focused primarily on his charitable interest.

Even during his 80’s Ratan Tata was very active. His hobby was to drive Falcon planes, helicopters and sports cars. Ratan is a trained pilot and has been known to fly the various aircraft owned by the Tata group. He became the first Indian civilian to fly an F-16 Falcon. The plane is proficient at flying at Mach 2 at 1500 miles per hour and can reach altitudes in excess of 50,000 feet. He flew in the aircraft on March 1^st and reached an altitude of 18000 feet during his 40 minute flight time.

Ratan Tata invested in Paytm, Snapdeal, CarDekho, Ola and many more and always encouraged them. Tata group did aim to make money or to become rich. It is the only company in the world who gives 66% of the profit to charity. Not only Ratan Tata but also his parents and grandparents were doing the same. This made Tata the most trusted brand in India.

Rewards and Achievements

In 2018 Ratan Tata gave 1,000 crore to cancer patients in India. Because of his donations and services the government Of India awarded him Padma Bhushan in the year 2000. He also gained the prestigious honorary Padma Vibhushan award in the year 2008. Some universities around the world treated him with doctorates. He has been given numerous honorary doctorates from higher learning institutions around the world. It included the University of Amsterdam, Carnegie Mellon University, the University of New South Wales, Singapore Management University, University of Cambridge, the Indian Institute of Technology, the Asian Institute of Technology and Ohio State University. He is the first Indian since India became republic to be awarded an honorary Knighthood in 2014. His investments in the UK and his philanthropic work made him achieve this.

Tata found companies and a few charities to join together to donate $50 million for Harvard Business School in 2010. It was given for the construction of an executive center. After construction the building was named Tata Hall in honor of the Indian businessman. The building is found in the Northeast corner of the campus. It is the center of Harvard’s executive education program. 

We Indians must be proud to have such personalities in our country. He was said that he was useless for work and got insulted by many but he wasn’t ready to give up. The wealth of 10,000crores was increased to 6,00, 000 crores during his service. He had spread the name of the Tata group all over the world and was able to create Tata as an international brand. Ratan extended his company to different fields like Tata Steels, Tata motors, Tata Tea, Tata Consultancy Services, Tata Chemicals Limited, Tata Teleservices Limited, Tata Power, Tata electronics, hotels, Tata Life Insurance and many more.

He leads a very simple life and stays away from popularity. Ratan may not be the richest man in the world, but a good kind-hearted man like him will be very rare. Even today no single person hates him, due to his kind, soft simplicity attitude and his works. World saw the Tata group rise to new horizons through his excellent vision and leadership. A true businessman with a clear plan, vision and commitment. He stands as an example of success.