 "'Every Indian owes you a debt': Ratan Tata's letter to former PM goes viral")
In a tribute to the late industrialist Ratan Tata, RPG Group Chairman Harsh Goenka shared a photograph of a handwritten note written by Tata in 1996 to former Prime Minister PV Narasimha Rao.
In this letter, industrialist and philanthropist Ratan Tata conveyed his admiration for Rao’s “outstanding achievement” in initiating vital economic reforms in India. Ratan Tata, the chairman emeritus of Tata Sons, passed away on October 9, following a brief illness. He was 86 years old.
Legacy of 1991 economic reforms
Former Prime Minister Narasimha Rao is often referred to as the 'Father of Indian Economic Reforms' due to his pivotal role in transforming India's economy in 1996, guiding it towards recovery and renewal.
Under his leadership, the then Finance Minister Manmohan Singh introduced the Liberalisation, Privatisation, and Globalisation (LPG) model. This approach aimed to enhance the long-term perspective of the economy and boost international competitiveness, implementing reforms to eliminate rigidity across various sectors.
In his letter, Tata commended Rao for integrating India into the global community, stating, “Every Indian should owe you a debt of gratitude for the courageous and far-sighted 'opening up' of India.” The letter stands as a testament to Tata's steadfast dedication to India's advancement. In sharing this correspondence, Goenka stated, “Beautiful writing from a beautiful person….”
Notably, the letter is described as “personal” and was written on August 27, 1996, on paper from Bombay House, the headquarters of Tata Group. By 1996, allegations of multiple scams had made Rao's government unpopular, leading to the defeat of the Congress in the May 1996 Lok Sabha polls.
Read the letter here:-
August 27, 1996
Dear Mr Narasimha Rao,
As I read the recent spate of unkind references to you, I felt compelled to write to you to tell you that while others' memories may be short, I will always recognise and respect your outstanding achievement in heralding much-needed economic reforms in India. You and your government put India on the world map in an economic sense and made us part of a global community. Every Indian should owe you a debt of gratitude for the courageous and far-sighted "opening up" of India. I believe personally that your achievements are momentous and outstanding – and they should never be forgotten.
The purpose of this letter is just to tell you that my thoughts and best wishes are with you at this time, and that you can have at least one person who has not, and will never, forget what you have done for India.
With warm personal regards,
Yours sincerely,
Ratan