NEW DELHI: The Tata name is well-known throughout India. In the vehicles that take people to work, the tea packet that wakes them up in the morning, and the hotels where they go for a drink after work, they see it.
The death of the group’s patriarch, Ratan Tata, this week will affect all Indians since no other name is as apt to capture the potential and shortcomings of the country’s private sector.
Tata’s aspirations and errors encapsulated the promise of a contemporary, global India. From the early rumblings of an industrial economy in the subcontinent, with its steel mill in Jamshedpur, to the gloomy years of socialism and the explosion of post-liberalization optimism, the centuries-old conglomerate he oversaw has expanded alongside his nation.
In 1990, one year before India started to open up and deregulate, Ratan Tata assumed power. Under his leadership, a company that produced chemicals, steel, and vehicles swiftly expanded into information technology and compact cars.
The change was a prime example of India’s transition from a capital-intensive, state-directed growth model to one that is driven by service exports and consumer demand. Tata Consultancy Services currently accounts for the majority of the group’s wealth.
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