'Titan of the Business World': UK Trade Secretary Pays Tribute to Ratan Tata

London: UK Business and Trade Secretary Jonathan Reynolds has paid tribute to Ratan Tata, hailing the late Tata Group chief as a "titan" of the global business world and a key figure in shaping British industry. The minister expressed his admiration soon after news broke on Wednesday night of the Indian business magnate’s passing, acknowledging Tata’s huge role in expanding the Tata Group’s presence in the UK.

Taking to social media, Reynolds highlighted Tata's significant contributions and said, “Sad to hear about the passing of Ratan Tata. He was truly a titan of the business world and someone who played a huge role in shaping British industry. My thoughts and prayers are with his friends, family, and everyone in the Tata Group.”

A Legacy of UK Acquisitions and Growth

Ratan Tata, who served as chairman of the Mumbai-based Tata Group for over two decades, was widely credited with steering the multinational conglomerate’s expansion into global markets, particularly in the UK. During his tenure, the Tata Group made several high-profile acquisitions, strengthening its foothold in the British market. 

Among the most notable deals was the 2007 acquisition of the Anglo-Dutch steelmaker Corus by Tata Steel, which remains one of Europe’s leading steel producers with significant operations in both the Netherlands and the UK.

In 2008, under Tata’s leadership, Tata Motors acquired two iconic British luxury car brands, Jaguar and Land Rover (JLR), cementing the company's position in the global automotive industry. Tata Group’s acquisition of the global tea brand Tetley in 2000 further enhanced its reputation as a major player in the UK market.

These strategic investments helped solidify Tata Group’s standing as one of the largest employers in Britain, with thousands of jobs created across various industries.

A Vision for Sustainable Growth in the UK

Ratan Tata’s vision continues to shape the group’s long-term presence in the UK. The company’s largest steelworks, located at Port Talbot in south Wales, is currently undergoing a significant transformation as part of a move towards greener, more sustainable steel production. 

The shift to electric arc furnaces is a key component of Tata’s efforts to reduce the environmental impact of its operations, aligning with the broader trend towards decarbonization in the steel industry.

In addition to its steel operations, the Tata Group has been instrumental in driving innovation in the UK’s electric vehicle (EV) sector. In July 2023, the company announced a GBP 4 billion investment to establish a gigafactory for EV battery production in Britain. 

The plant, which was expected to create thousands of jobs across the supply chain, will have an initial output of 40GWh. Tata Motors-owned JLR will be the gigafactory’s primary customer, positioning the Tata Group as a major player in Europe’s rapidly growing EV industry.

A Global Vision

Ratan Tata’s influence extended far beyond India, with his leadership propelling the Tata Group into a truly global conglomerate. Reflecting on his vision for the company’s international expansion, Tata once said, “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.”

Though he officially retired from his leadership role at the Tata Group in recent years, Ratan Tata’s legacy as a business visionary and his lasting impact on British industry will endure for generations to come.

(With PTI inputs)