Ratan Tata, the man who made a difference in our lives

Dear Readers,

Ratan Tata amar rahe… Tata Saab wapas aao. Tata saab parat ya…

Thousands of people were chanting, expressing their gratitude for Ratan Tata as his mortal remains made the last journey from Marine Drive to Worli crematorium in Mumbai.

The heat was scorching but people were there, with their eyes on the lawn of the NCPA building at Nariman Point or trying to click pictures with raised hands. A large police force was there to control the crowd. Politicians, business leaders, corporate honchos, policymakers, bureaucrats, Bollywood celebrities and others had assembled at the Nariman Point in a few hours, as soon as they learnt that Ratan Tata had passed away. Most top business and political leaders were there— from Mukesh Ambani, and Kumar Mangalam Birla, to Amit Shah and Chandrababu Naidu, just to name a few.

I was looking at the crowd around the NCPA building and the Marine Drive promenade. They only wanted to have the last glimpse of their hero who meant a lot to them. The flower-decked van carrying Ratan Tata’s mortal remains was surrounded by the staff of Taj Hotel in human chains. As soon as it came out of the NCPA, people standing on Marine Drive began chanting... Ratan Tata amar rahe… Tata saheb parat ya...

They were chanting as if it was orchestrated. But it wasn't. That was an expression that everyone had instinctively with moist eyes. Many of them also added Bharat Mata ki Jai, as Tata had truly made a difference to Bharat.

Ratan Tata made a difference in our lives

There were not just celebrities but common people from different parts of Mumbai had come to send off someone who made a real difference to their lives.

They have the salt his company made, as they proudly said in their advertising, Tata Salt Desh ka Namak Hai, they drink water purified by Tata Swach. They use cars of all ranges manufactured by the Tata group. They are insured by the policies of the group’s company. Many have enjoyed hospitality at Tata hotels and flew the airlines the Tatas started. They invest in mutual funds of the Tata Group and borrow from its finance companies. They shop at Croma and have coffee at Starbucks, the two companies operated by the group. Zudio, which sells stylish attires that GenZ flaunts, is also part of the group. The name Tata is synonymous with India’s business and people look at Tata as a brand of trust. Tata means quality. There are luxurious products but there are products specifically designed for the common people, which only Tata could do. Nobody could have purified water at such a small price and without cancer hospitals started by the Tatas, many would have faced financial ruin.

And all this was led and grown by one man with a vision of scores of ventures for the last several decades. That’s why a community from Girgaon had posted a banner at Marine Drive offering their prayers saying, aaj desh ka nuksaan hua hai... Ratan Tata's contribution is in almost every sector, including the NCPA, the building which gave art and artists a place and where Tata's mortal remains were kept for people to offer their prayers.

Ratan Tata was humble

Tata was the epitome of simplicity, he would carry his own bags at the airport. I know a banker who would ensure that his team is keeping an elevator on hold at the time of his arrival at the office. But Tata was far more patient and his heart was far bigger. He would wait in the queues at the elevator and he went to meet his friend in Pune at the age of 80. His love for dogs can be another story in itself.

Businesses today can learn from Tata

As India is growing as the fastest economy in the world we have to think about why people trust Tata more than anything. I have a small piece to share. During my stint as a TV reporter, I interviewed the chief of Croma. He said, Croma started as a big thing and we thought we would surpass the local stores. He said when he shared the same thing to Ratan Tata in the meeting, Tata said we should grow but not at the cost of the business of retailers who are selling similar products even before us. We have to look for new markets and new opportunities and never compete with those local retailers. They should and must survive. That's the vision that the chairman of the billion-dollar group had.

When he retired at the age of 75 from Tata Sons as a Chairman and took over as a Chairman for Tata Trust and Sir Dorabji Tata Trust, Ratan Tata said his agenda is only to make a difference in people’s lives, helping them with power, water and education… He continued to do that till his last day. Very few have such a passion for working for the underprivileged.

Are we making a difference in someone's life?

I have seen startup founders changing their cars and brands of blazers as soon as they get funding. But Ratan Tata remained the same despite the Tata group scaling up and touching the sky.

While writing this and after seeing the sea of people at Nariman Point, lakhs of messages and posts by people on various media, even by those who never express their thoughts, what came to my mind is… Are we making a difference in someone's life?

We work for us (and companies) and companies work for their shareholders and focus on quarterly profits… but are we really making a difference in someone's life?

Currently, India is going through a transforming phase, infrastructure is getting ready, international companies and investors are taking huge interest and hopes in India are very high, which is reflected in the stock market as well. But that's broadly the macro story, which is extremely rosy. The question is micro. While a decent number of people have been moved out of poverty, there are a huge number of people there. People in Bharat are struggling for jobs, education and opportunities. Can India become the third largest economy without taking them along? Remember household incomes have decreased and inflation is ahead of the average income of Indians. How are we going to make a difference here? The government has its limitations, their first agenda is elections. The person who thought about this and consistently made efforts, has left us. He sent his jet to rescue the school children stuck in heavy rain and kept society first. Employees of Tatas, especially women, praise the HR policies, which perhaps no other companies can match. The question is how many companies and business leaders will follow his path? Are we going to make a difference in someone's life?

Note: Generally my columns are mostly about finance, BFSI and the economy as a whole… But the demise of a legendary leader of India has saddened all of us and I thought of sharing my thoughts with you. Hope you find it meaningful.

Click here for Ratan Tata's coverage

As usual I am adding the top 5 stories of the week, trust you will find them meaningful.

1. Goodbye and Godspeed: India mourns Ratan Tata's demise
2. Funding winter moderated, investors now have clarity on capital allocation, says Yashraj Erande of BCG
3. The BFSI Show: Is it tough for FinTech Investors to exit?
4. Why hasn’t the wealth effect kicked in yet in India?
5. BFSI sector witnessed 64 deals, 18 M&A and 2 IPOs in Q3 CY24: Report

Happy Reading,

Amol Dethe

Editor

ETBSI