Ratan Tata, an Indian industry legend and business icon, has died at the age of 86

Ratan Tata, one of India's most influential business leaders, was cremated on Thursday after a state funeral in the country's financial capital. The veteran industrialist and former chairman of the $100 billion conglomerate Tata Group died in a Mumbai hospital on Wednesday evening at the age of 86.

No cause of death was announced.

India's Home Minister Amit Shah, Tata group and local government officials, and Tata's relatives were present at the funeral, where Mumbai Police honored him with a ceremonial gun salute. He was later cremated in an electric crematorium.

Early Thursday, his body was taken to the National Center for the Performing Arts in Mumbai, where thousands of people, including industrialists, civil servants and some of India's top celebrities, lined up to pay tribute to a man many consider a legend and icon of the industry. to pay your last respects.

Prime Minister Narendra Modi described Tata as a visionary leader and a compassionate and exceptional human being.

“He ensured stable leadership of one of the oldest and most reputed business houses in India. At the same time, his contribution went far beyond the boardrooms,” Modi said on social media platform X.

Tata Group's current chairman, Natarajan Chandrasekaran, described Tata as his “friend, mentor and guide”.

“With an unwavering commitment to excellence, integrity and innovation, the Tata Group has expanded its global presence under his leadership while always remaining true to its moral compass,” Chandrasekaran said in a statement.

Authorities in the state of Maharashtra, whose capital is Mumbai, declared a day of mourning in Tata's honor on Thursday, with half-open government buildings hoisting the national flag.

Tata was admitted this week to Breach Candy Hospital in Mumbai, where he was staying. The Tata Group issued a statement on Monday saying there was no cause for concern over his health and he was undergoing check-ups for age-related diseases.

Google CEO Sundar Pichai said Tata leaves behind an exceptional business and philanthropic legacy and has been instrumental in mentoring and developing modern corporate governance in India.

“He cared deeply about making India better,” Pichai said on X.

Cornell University, where Tata earned a bachelor's degree in architecture, said he was its “most generous international donor.”

“We will remember his legacy of transformative giving to Cornell,” the university said on X.

Ratan Tata joined the Tata Group in 1961 and succeeded his uncle JRD Tata as chairman after the latter retired in 1991. This followed the liberalization of the Indian economy in 1990, which brought massive economic reforms and global investment into the country.

Under his leadership, the conglomerate grew significantly into a sprawling collection of nearly 100 companies, including Tata Motors, the country's largest automaker; Tata Steel, the largest private steel company; Tata Power and information technology company Tata Consultancy Services. The company also expanded globally, reaching over $100 billion in sales after his retirement.

The Tata Group employs more than 350,000 people worldwide and is present in over 100 countries.

Its products are ubiquitous in Indian households and include everyday essentials such as salt, tea and mineral water.

The Tata Group pioneered commercial aviation in India by establishing an airline in 1932, which later became Air India. The government later took it over. Then in 2021, Tata Group bought Air India back from the government. It also founded a full-service airline, Vistara, with Singapore Airlines, but recently merged it with Air India.

In 2008, Tata bought the Jaguar and Land Rover brands from Ford Motor Co. for $2.3 billion. A year earlier, the company acquired British steelmaker Corus for $12 billion, although that deal didn't go well.

Tata-owned Port Talbot steelworks in Wales lost 2,500 jobs despite a $654 million taxpayer-backed deal with the government.

In 2009, the company surprised the automobile industry by introducing the Tata Nano, a tiny rear-engined vehicle that cost about 100,000 rupees (then $2,000). Ratan Tata touted the “people’s car” as a “safe, affordable, all-weather mode of transportation” for millions of middle- and low-income Indian consumers.

However, due to low sales, the company stopped producing the small car in 2018.

Tata was also widely known for his charitable work in various areas including healthcare, education, skills development, disaster relief and rehabilitation under the Tata Trusts, India's largest private sector charity, which he led until his death.

In December 2012, Tata retired as chairman of the Tata Group. After the fall of his successor Cyrus Mistry, he briefly served as interim chairman from October 2016. He returned to retirement in 2017 when Chandrasekaran was appointed chairman of the Tata Group. But he was still known to the group as a father figure.

Tata never married and leaves behind two brothers and two sisters.

Sharma writes for the Associated Press. AP writer Aijaz Hussain in Srinagar, India, contributed to this report.