Ratan Tata looked beyond the balance sheets. He was a man of ideas

Ratan Tata was a reflection of compassionate capitalism. Like other gems of the Tata brand, he didn't require any parliamentary legislation to fulfill his social responsibilities

In an era when the success of an entrepreneur was measured by balance sheets alone, Ratan Tata was an exception. Rejecting the notion of possessive capitalism, he embraced philanthropy as a way of life. A true epitome of humility, modesty, and selflessness, Tata left the world at a time when his ideas were needed the most. 

He led the Tata Group at a time when the country was transitioning towards LPG reforms as a response to the 1991 economic crisis. It was not just limited to relaxation of bureaucratic complexities, but was a transition of aspirations as well. Stalwarts like Ratan Tata ensured that the emerging generation of leaders never abandoned the idea of responsibility toward society.

A champion of compassionate capitalism

At the age of 86, he opened a state-of-the-art hospital for small animals at a whopping cost of Rs 165 crore. He invested heavily in improving the healthcare system of India, and to make the treatment of diseases like cancer more affordable. His donation of Rs 500 crore at the time of pandemic had also surprised the world. Over the years, Ratan Tata had continued donating hefty sums to educational institutions too. 

He was a reflection of compassionate capitalism. Like other gems of the Tata brand, he didn’t require any parliamentary legislation to fulfill his social responsibilities. 

He took the leadership of Tata Sons in 1991, when the podium of neo-liberalism was just opened. But he never became a victim of it. That is possibly why he was ranked 433 in the IIFL Wealth Hurun India Rich List 2021. 

‘Not compromising with the core values’ in a mad rush to increase market capitalisation, was the tradition of the Tatas. Ratan Tata ensured that this tradition isn’t just preserved, but nourished as well. 

A legacy of purposeful innovation
 

According to a report by India Today, Ratan Tata ensured that the Group’s wealth served the nation, with 60-65 per cent of Tata Sons’ dividends directed to charitable causes.

His idea of the world’s most affordable car Nano, which was later termed as a ‘great idea’ by US billionaire Elon Musk, was not driven by profits. Instead, it was aimed at fulfilling the aspirations of India’s middle class. That’s possibly why Musk bestowed the words like ‘gentleman’ and ‘scholar’ on him, rather than a ‘businessman’. 

His pragmatic approach with a normative thinking makes his story, a story of perseverance, resilience and a relentless pursuit of excellence. He inspired and motivated youngsters to take risks, saying that ‘the biggest risk lies in not taking a risk’. 

An impact built on values and philanthropy

Ratan Tata will not be remembered for his vast wealth, but for the vast values that he carried with himself.

Expressing grief on his demise N Chandrasekaran, Chairman, Tata Sons highlighted the ‘immeasurable contribution’ of Ratan Tata that not only shaped the Tata Group, but also the ‘fabric of the nation’.

Chandrasekaran said, “Tata’s dedication to philanthropy and the development of society has touched the lives of millions. From education to healthcare, his initiatives have left a deep-rooted mark that will benefit generations to come. Reinforcing all of this work was Mr Tata’s genuine humility in every individual interaction.”

Ratan Tata’s message to youngsters carried a perfect blend of idealism, utilitarianism, communitarianism and nationalism. “Your success is going to be your humility. Don’t grow up with a view that something can’t be done and so shouldn't be done… So as you go out into this world, I would hope that you look at being ethical and holding the value systems which you want this country to have,” he said.