Renowned philanthropist and former chairman of Tata Group, Ratan Tata, passed away at the age of 86 on Oct. 9. Tata was admitted to Mumbai's Breach Candy hospital in a critical condition where he breathed his last.
What Happened: Tata was known for his instrumental role in globalizing and modernizing one of India's oldest business houses. His audacious business risks and high-profile acquisition strategy kept the conglomerate relevant post India's economic liberalization in the 1990s.
One of Tata's significant contributions was facilitating Starbucks' entry into India in 2012 through a 50:50 joint venture with Tata Global Beverages Ltd. This marked Starbucks' successful second attempt to penetrate the Indian market.
Starbucks founder Howard Schultz, in his book "Reimagining India: Unlocking The Potential of Asia's Next Superpower," recounted a memorable interaction with Tata. Schultz was deeply moved by Tata's heartfelt toast at the celebratory dinner marking the opening of the Mumbai Starbucks store.
Tata's remarks were "perfect and so heartfelt," Schultz said.
Schultz described Tata as a "man with so much grace" and admired his wisdom and insight about India and the world. He was so touched by Tata's words that he was brought to tears while recounting the experience at a forum meeting weeks later.
Schultz said Tata had "so much wisdom and insight not only about India but about the world."
In an official statement, Starbucks credited Tata for being "instrumental in building the partnership with Starbucks Coffee Company that brought the company's coffeehouse experience to India and showcased Indian coffees to the world."
Today, nearly 400 Starbucks stores operate across India, employing over 4,000 partners.
Indian President Droupadi Murmu, Prime Minister Narendra Modi, and other business leaders such as Mukesh Ambani, Gautam Adani, Anand Mahindra, and Sundar Pichai, CEO of Google also paid their respects to the late Titan.
N Chandrasekaran, Tata Sons Chairman also paid his tributes to his colleague, saying Ratan Tata's "contributions have shaped not only Tata Group but also the very fabric of our nation."
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Photo courtesy: Ratan Tata
