Trade secretary Jonathan Reynolds pays tribute to Ratan Tata

BUSINESS and trade secretary Jonathan Reynolds has paid tribute to Ratan Tata, describing him as a “titan” of the business world who played a key role in shaping British industry.

Following the news of Ratan Tata's passing on Wednesday night, Reynolds took to social media to express his condolences. "Sad to hear about the passing of Ratan Tata. He was truly a titan of the business world and someone who played a huge role in shaping British industry," Reynolds said. "My thoughts and prayers are with his friends, family, and everyone in the Tata Group," he added.

Sad to hear about the passing of Ratan Tata. He was truly a titan of the business world and someone who played a huge role in shaping British industry.

My thoughts and prayers are with his friends, family and everyone in the Tata Group.

— Jonathan Reynolds (@jreynoldsMP) October 9, 2024

At a pre-scheduled Diwali reception co-hosted by the High Commission of India in London on Wednesday, Indian high commissioner to the UK, Vikram Doraiswami, led a minute's silence in memory of Ratan Tata. The event, co-hosted with the India All Party Parliamentary Group (APPG), took place near the Houses of Parliament in London.

Doraiswami paid tribute to Ratan Tata, calling him a great champion of the India-UK partnership. "On a sombre note, I share the news with great sorrow of the passing of one of India's most celebrated businessmen, Ratan Tata," Doraiswami said, addressing a gathering of parliamentarians, entrepreneurs, and community leaders. He added, "No man has embodied the India-UK partnership quite as much as Ratan Tata did. This is a man for whom Mumbai and London were both home."

Lord Karan Bilimoria, co-chair of the India APPG, also paid tribute, calling Tata a "fellow Parsi" who worked to strengthen ties between India and Britain.

Chandrajit Banerjee, director general of the Confederation of Indian Industry (CII), said Ratan Tata had led numerous delegations globally, showing how Indian companies could expand internationally. Banerjee added, "In his memory, it is good to pledge from the Indian industry side that the India-UK economic and commercial corridor will be deepened and taken forward."

Ratan Tata's tenure as chairman of the Tata Group saw major acquisitions in the UK, including Corus, Jaguar Land Rover (JLR), and Tetley. The group also owns the UK's largest steelworks at Port Talbot in Wales, which is currently transitioning towards a green electric arc furnace.

In 2023, Tata Group announced plans to invest over £4 billion in an electric vehicle battery plant in the UK, creating thousands of jobs. JLR, owned by Tata Motors, will be the anchor customer of the new plant.

Ratan Tata, though retired, is widely credited for setting the Tata Group on its growth path in the UK and Europe. Starting with Tata Tea’s acquisition of Tetley in 2000, the group made several major overseas acquisitions, including Corus, JLR, and Brunner Mond.

In 2004, Tata summed up the group’s global ambitions by saying, “I hope that a hundred years from now we will spread our wings far beyond India, that we become a global group, operating in many countries, an Indian business conglomerate that is at home in the world.”

(With inputs from PTI)