Ratan Tata and the Contributions of Tata Steel to India
About Ratan Tata:
Very few people are successful in leading an organisation to global success and creating a great reputation for themselves in pursuit of that leadership. They also inspire millions in the same, and one of those people is India’s beloved and respected Industrialist and philanthropist, Ratan Tata.
Born to the wealthy Tata family in 1937, Mumbai, Ratan Naval Tata grew up to take the family business to new heights, breaking the ceilings and conquering the business world. Much of the TATA company’s success and ventures are credited to Ratan’s endeavours and openness to try new things.
An alumnus of Cornell University in New York, he holds a B.S in architecture and pursued a course in advanced management in Harvard. After graduation, he came back to India and on the advice of JRD Tata, joined the family business in 1962. His first job was to manage blast furnaces and shovel limestone.
Working his way up from the shop floor, he saw many hardships experienced by the less fortunate and aimed to make their lifestyles better. His way of thinking about how one can make a difference in people’s lifestyle and delivering on the promise of the same, earned him the philanthropic title. 65% of his shares are invested in charity.
Ratan Tata never married. He loves cars so much that he has a collection of humble and expensive cars like Mercedes Benz 500 SL, Tata Nexon, Chrysler Sebring, Cadillac XLR, Tata Indigo Marina, and more. He also loves dogs a lot and has two dogs Tito (recently passed away) and Tango. On Instagram where he recently made his debut, he expressed disappointment towards people who abandoned dogs and requested people to adopt them.
Ratan Tata is actively taking part in improving community welfare like Mission Garima, an initiative taken to provide clean and humane working conditions and sanitisation for people working to keep Mumbai clean. He is also an active participant in India’s AIDS initiative program.
How did Ratan Lead the TATA Company to Global Success?
A decade after joining the company and working in many groups, Ratan was appointed as the director in charge of one of them. In 1991, he succeeded his uncle, JRD Tata, as the chairman of the Tata group. Despite criticism within the industry, he sought to globalise the conglomerate business through the acquisition of many international companies, one of the many ways he was able to do so:
In 2000, Tata bought the London-based Tetley Tea for 431 million dollars. It is since then, a part of TATA global beverages.
In 2004, Tata group acquired one of the biggest truck-manufacturing companies Daewoo motors in South Korea for 102 million dollars.
Followed by its biggest conquest yet, Tata Steel bought Corus, an Anglo-Dutch steel manufacturer for 11.3 billion dollars. Corus was the ninth-largest steel producer in the world and its acquisition by Tata steel jumped its position from 56th to 5th largest steel producer in the world.
The acquisition of these companies by the Tata group under the leadership of Ratan helped the company grow by leaps and bounds. Today, Tata is well-known and a revered Indian conglomerate business dealing in Motors, consumer products, chemicals, paints, communications, steel, appliances, etc.
Under 21 years of chairmanship of Ratan Tata, the business’s revenue increased by 40 times and profit by 50 times.
Indeed an extraordinary example of leadership and business management, Ratan’s strong ambitions and visions for the company are what made it all possible. He is proof that there is no limit in conquering success for your business and doing something for the society with all that success, to contribute for a greater cause.
About Tata Steel Limited:
A subsidiary of Tata group, Tata steel is one of India’s leading steel producers with a commercial and operational presence in 26 countries. It has the capacity to produce 33 million tons per annum of crude steel. Formerly referred to as Tata iron and company ltd. (TISCO), Tata steel is based in Jamshedpur, Jharkhand.
It is recognised as a global steel industry leader in DJSI in 2018 and a member of World Steel Climate Action Programme. Their mission is to strengthen India’s industrial base with cutting-edge technology and modern management practices and provide sustainable resources in an effort to preserve the environment.
The products in Tata Steel range from TMT bars, pipes, structural steels, sheets, etc. the rate of tmt bars defers on grade and suppliers. Tata Steel in Bangalore has many dealers. Click the link to know more.
Initiatives Taken by Tata Steel:
The Tata Steel Foundation (TSF) has taken many initiatives to improve environmental issues and the welfare of the most vulnerable communities during COVID-19. Some of them are*:
Under the #thoughtforfood initiative, TSF has provided more than 50,000 meals in 140 settlements in Jamshedpur. It has also provided food and sanitisation packages consisting of rice, vegetable oil, lentils, masks and hand wash to communities in Kolhan region.
A wonderful initiative taken towards helping those who are working hard to care for COVID patients, TSF aims to distribute over 1 lakh masks and has distributed over 20,000 till date to protect health workers. TSF has also trained 90 individuals in stitching masks in Jamshedpur, West Bokaro, Noamundi and Kalinganagar.
TSF has started to sell vegetables online through Zomato since April in Jamshedpur receiving positive responses. #FromtheFarm
Hope springs initiative which began in May is taken towards helping migrant workers return home. They have established an outpost on NH-33 where migrant workers can seek help on their journey home, and are provided with meals and medical help.
A wonderful initiative taken by Tata trusts and Google towards women empowerment has helped rural women learn about the internet and train other women as well. This has contributed to the digital literacy of over 28 million women across 2 lakhs villages. Women who are trained in using the internet are called internet Saathis.
Being aware of the environmental impacts, Tata Steel is committed to the protection and conservation of natural resources, and minimise the effects of their operating plants on climate change. Under the raw materials management, they have taken actions in preserving nature by planting over 2 lakhs native saplings in and around the mining operations.
They have also installed many nest boxes for birds which saw an increase in bird activity by 80%. This initiative is also being taken in other mining locations.
Under environmental management, Tata steel has planned to operate with 0% of carbon emissions. The rainwater harvesting structures have been installed at various plants in an effort to conserve and recycle water.
*Source: tatasteel.com
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