THE MAGNETIC MAGNATE

A BENEVOLENT HEART AND A RAZOR-SHARP BRAIN

‘‘If my country is in danger, I am ready to donate the whole of my property’’, said Ratan Tata, one of India’s most successful and revered businessmen, after donating a massive amount of Rs. 1500 crores to the PM CARES funds. He is looked up to by many as someone who has set the standards for India’s businessmen and is a stellar example of how nationalism and capitalism can go hand in hand. This piece of writing is a humble attempt to give you a glimpse of his captivating and inspiring life.


Ratan Tata was born on the 28th of December in the year 1937 in Mumbai. He was chiseled by JRD Tata, who named him his successor to lead the Tata Group of Companies. Ratan is credited with multiplying the revenue of the Tata Group by about 40 times in a matter of just 25 years.

EARLY LIFE AND EDUCATION:

Mr. Ratan’s childhood was not a bed of roses. His parents divorced when he was just 10 and was raised in the loving lap of his grandmother Navajbai Tata. He did his schooling in India and in New York. He then graduated in architecture from the prestigious Cornell University. He also went on to attend a seven week- long  programme on Advanced Management at the globally acclaimed Harvard Business School.

STEPPING INTO THE TATA GROUP:   
                                                                                  When Ratan was appointed as the Chairman of the Tata Group in 1991, the decision faced  callous criticism and many slammed the move calling it a wrong choice. But, Ratan took his critics by surprise by announcing aggressive decisions in the company. A few of his masterstrokes are setting a retirement age for heads of companies, roping in young talents into the group and prioritizing innovation and creativity. During his tenure, people witnessed the transformation of the Tata Group into a salt-to-software conglomerate which had been done with the intention of making the group fit to take on globalization.

A KEEN PROMISE-KEEPER

Tata Nano is regarded as the brainchild of Ratan Tata. In 2009, he promised that Tata Motors would set its focus on manufacturing a model car that would be affordable for the middle-class Indians and put in the best of his efforts to make it a success. Though the car model did not manage to achieve the kind of success it was intended for, the idea and the intention behind the project is laudable.

PHILANTHROPY

Apart from being one of  the country’s most successful business magnates, he is also a very generous philanthropist. This quality of his has always set him apart from other businessmen in the country. He spends as much time and energy on philanthropy as he does on business. When bestowing the prestigious Padma Bhushan on him, the then President of India Shri. K. R. Narayanan declared that he was able to pursue education only due to the Tata Scholarship. Mr. Tata ascribes his quality of being generous to the love of his grandmother. In 2010, the Tata group of companies donated a huge sum of 50 million dollar to the Harvard Business School for the setting up of an executive center. The group also contributed 28 million dollars to support the Indian students studying at the varsity. Despite being a highly successful industrialist, Mr. Tata’s name does not feature on the list of billionaires since he spends a big percentage of his assets on philanthropy.

In a nutshell¸ Ratan Tata has set standards for aspiring businessmen to emulate so that the nation’s economy flourishes in the shade of their firms.