Ratan Tata is as big a draw as Sachin: FM

Tata group's chairman emeritus, who was conferred CII President's award by Chidambaram, says he is optimistic on Indian economy

Finance Minister P Chidambaram was on Friday effusive in his praise for Tata Group's Chairman Emeritus Ratan Tata. After handing over the CII President’s award to him, Chidambaram even compared Tata with Sachin Tendulkar.

Chidambaram said men like Tata never retire they just discover new things that they can do.  "When I walked into the room, I realised that Ratan was as big a draw as Sachin. So many of you are here rather than Wankhede stadium," Chidambaram said.  Tendulkar is playing his last test match at the Mumbai’s Wankhede Stadium which has whipped up passion across the country.

"I have know doubt in the coming years Tata will discover new things and pursue them with the same passion that he has brought to all his work, all his life," the FM said.

The Finance minister said Indians admire Tata for creating wealth for millions of Indians and for many thousands across the world. "I admire for drawing the line in the stand between ownership and control and between control and management of group companies. Millions of shareholders own the companies, Tata Sons control the companies but professionals control the company. There is a lesson for all industrial groups in what Ratan Tata has established," he said.

The finance minister said he admired Tata for several reasons."I admire Ratan for his frugality. I admire him because he lives in a modest apartment. I admire him for being a man of few words, something as being a lawyer and politicians I can only envy and aspire to be," he said.

"Besides, we all admire him for his passion. Passion to build new cars. Passion to start a new airline. I am happy that at the end of a long carrier he can look back and say he has fulfilled most his passions," the FM said. "There is a lesson for all industrial houses to emulate from what he has done,” he added.

In his speech, Tata said he was extremely optimistic about the Indian economy. "It's been an exciting time for India and it's been great a privilege to be part of that excitement," Tata said.
 
"We have all experienced the adrenaline that the economy of India has given to us in industry both domestically and many of us internationally. For this, we need to recognize and appreciate what the government of India has done," Tata said.

Tata’s comments on the prospects of Indian economy came within days of Reliance Chairman Mukesh Ambani saying in a McKinsey's book launch event that the India is set for good run and he is extremely optimistic about the growth prospects - irrespective of the present hiccups.