Indian tycoon Ratan Tata has died aged 86, says the Tata Group, the conglomerate he led for more than two decades.
Tata was one of India's most internationally recognised business leaders.
The Tata Group is one of India's largest companies, with annual revenues in excess of US$100 billion.
In a statement announcing Tata's death, the current chairman of Tata Sons Natarajan Chandrasekaran described him as a truly uncommon leader.
Chandrasekaran his legacy will continue to inspire us as we strive to uphold the principles he so passionately championed.
During his tenure as chairman of the Tata Group, the conglomerate made several high-profile acquisitions, including the takeover of Anglo-Dutch steelmaker Corus, UK-based car brands Jaguar and Land Rover, and Tetley, the world's second-largest tea company.
A profile published in the Economist magazine in 2011 called Tata a "titan", crediting him with transforming the family group into "a global powerhouse".
The magazine said he owns less than 1 percent of the group that bears his family name but he is a titan nonetheless: the most powerful businessman in India and one of the most influential in the world.
In 2012, he retired as chairman of the group and was appointed chairman emeritus of Tata Sons, the group's holding company.
Indian Prime Minister Narendra Modi hailed Tata as a "visionary business leader, a compassionate soul and an extraordinary human being".
Paying tribute on X, formerly known as Twitter, Modi recounted "countless interactions" with Tata and said he was "extremely pained" by his death.
[Source: BBC]
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