Cover Ratan Tata left an indelible influence on not just India, but also the global economy (Photo: Getty Images)
Ratan Tata left an indelible influence on not just India, but also the global economy (Photo: Getty Images)
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He might have been one of the most influential men in India and beyond, but the late Ratan Tata was famously modest. Here are some of the most thought-provoking quotes from the conscious capitalist
On October 10, Ratan Tata, the emeritus chairman of India’s Tata Group passed away aged 86. He was a titan of the industry and played an instrumental role in growing the country’s economic prosperity.
Known for his visionary leadership, ethical business practices and philanthropic endeavours, Tata transformed the Tata Group into a global conglomerate. He spearheaded bold acquisitions, such as Tata Steel’s acquisition of Corus and the landmark purchase of Jaguar-Land Rover, revitalising iconic British brands and demonstrating India’s rising economic power.
His commitment to nation-building extended beyond India’s borders, as seen in his engagement with organisations like Singapore’s Economic Development Board. A firm believer in conscious capitalism, Tata always emphasised giving back to society and paying it forward, a philosophy deeply ingrained in the Tata Group's ethos.
These five quotes offer a window into Tata’s core philosophies.
1. “Those of us who head industrial units ought to really focus on what we can really do to make the world a safer place, maybe 50 or 100 years from now”
Above Tata developed a compact vehicle for India’s masses, saying: ”I had the Indian family in mind when I designed this car, where four people travel together by motorbike. I thought they could travel more safely by car.” (Photo: Getty Images)
Tata developed a compact vehicle for India’s masses, saying: ”I had the Indian family in mind when I designed this car, where four people travel together by motorbike. I thought they could travel more safely by car.” (Photo: Getty Images)
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His commitment to giving back to society is a cornerstone of his legacy. He firmly believed that businesses have a responsibility to contribute to the well-being of the communities they serve and to make a positive impact on the world. Under his leadership, the Tata Trusts, one of India’s oldest and largest philanthropic organisations, expanded its reach and impact significantly. They address a wide range of social issues, including poverty alleviation, education, healthcare, rural development and disaster relief.
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2. “I hope that a hundred years from now, we will spread our wings far beyond India, that we become a global group, operating in many countries, an Indian business conglomerate that is at home in the world, carrying the same sense of trust that we do today”
Above Britain’s largest automotive manufacturer Jaguar-Land Rover has been under Tata Motors since 2008 (Photo: Getty Images)
Britain’s largest automotive manufacturer Jaguar-Land Rover has been under Tata Motors since 2008 (Photo: Getty Images)
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Tata spearheaded a series of bold acquisitions that expanded the Tata Group’s global footprint. The acquisition of Corus Steel in 2007 was a landmark moment, making Tata Steel the fifth-largest steel producer in the world. Similarly, the acquisition of Jaguar-Land Rover in 2008 not only revitalised these iconic British brands but also established Tata Motors as a major player in the global automotive industry.
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Above Former Indian president Pratibha Patil presenting the Padma Vibhushan, a Civilian Honour to Tata in 2008. (Photo: Getty Images)
Former Indian president Pratibha Patil presenting the Padma Vibhushan, a Civilian Honour to Tata in 2008. (Photo: Getty Images)
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3. “Our grandmother taught us to retain dignity at all costs, a value that’s stayed with me until today. It involved walking away from these situations, which otherwise we would have fought back against”
This value was reflected in how Tata handled the highly publicised dispute with Cyrus Mistry, who was ousted as chairman of Tata Sons in 2016. Despite the public acrimony and legal battles, Tata maintained a dignified stance, refraining from personal attacks and focusing on upholding the company’s values and reputation.
This commitment to dignity can be seen in his philanthropic endeavours as well: He has often said that he believes in empowering marginalised communities and providing them with opportunities to live with dignity, rather than giving them hand-outs. Their initiatives in education, healthcare, and poverty alleviation aim to uplift people and enable them to lead fulfilling lives.
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4. “I’d like to be remembered as a person who made a difference. Not anything more, not anything less. A person who was able to make a change, who is able to be responsible for some change in the way we look at things”
One of the most striking examples of Tata’s commitment to making a difference is the development of the Tata Nano, the world’s cheapest car. His vision was to provide affordable and safe transportation for families who previously relied on motorcycles, often leading to accidents. While the Nano faced challenges, it remains a testament to his desire to create a product that could positively impact the lives of millions.
He was also a strong believer in fostering innovation and entrepreneurship. He has personally invested in numerous startups, particularly those working on solutions for social issues and those led by young entrepreneurs. This reflects his desire to support those who are striving to make a difference and to create a better future.
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Above Former Indian president K R Narayanan presenting Padma Bhushan award to Tata in 2000 (Photo: Getty Images)
Former Indian president K R Narayanan presenting Padma Bhushan award to Tata in 2000 (Photo: Getty Images)
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5. “It has to be self-regulating… I want to go to bed at night feeling that I have not done it”
By “it”, Tata was talking about corruption. Tata was vocal in his support for initiatives aimed at combating corruption and promoting good governance. He advocated for stronger regulations and enforcement to create a level playing field for businesses and ensure ethical conduct.
He also championed transparency and accountability within the Tata Group. He emphasised ethical accounting practices, discouraged insider trading and promoted a culture of openness. This commitment to clean governance helped build trust with stakeholders and set a high standard for corporate India.
