Legendary Indian tycoon Ratan Tata dies at 86

[Pelican Press 0]

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Legendary Indian tycoon Ratan ***** ***** at 86

STORY: He turned a staid and sprawling Indian conglomerate into a global player.

Now Indian tycoon Ratan ***** has ***** at the age of 86.

The news came in a statement from the ***** Group late Wednesday.

He ran the firm founded by his great-grandfather for over 20 years as chairman.

And worked at several group companies, including what became ***** Motors.

In 1991, he then took the group helm after his uncle stepped down – taking over just as reforms opened up India’s economy to the world.

The new boss went on to win renown for his bold acquisitions.

It began fairly small, with the purchase of British tea brand Tetley in 2000.

But then he bought ********* steelmaker Corus for $13 billion in 2007 – at the time the largest-ever foreign takeover by an Indian firm.

A year later, ***** acquired the Jaguar and Land Rover car brands, then owned by Ford.

**** projects at the autos division included the Indica – the first car model designed and built in India, and a big commercial success.

But ***** also pushed – and even helped design – the ultra-budget Nano car, priced at just $1,200.

Hurt by bungled marketing and safety worries, it was less of a sales hit.

Known for his quiet demeanor, ***** nonetheless faced controversy at times.

That included a bitter public feud with Cyrus Mistry – the scion of another billionaire clan – after he was pushed out of the company in 2016.

After stepping back from control of the group, ***** became known as an investor in Indian startups.

Country Prime Minister Narendra Modi said India had lost “a visionary business leader, a compassionate soul and an extraordinary human being”.

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