All about The Tata Group
In our daily lives, we knowingly or unknowingly use Tata products and services. Lets get to know a little about what went in to the making this group one of the biggest multinational conglomerate in India. The Tata Group was founded by Jametsji Tata in 1868, which makes it one of the oldest industrial groups in India. The company has global recognition as it acquired several companies across the globe. The group has many companies, each one operating independently under the guidance and supervision of the board of directors and it’s shareholders. The headquarters of the Tata Group is situated in Mumbai.
It was all started in 1870, when Jamsetji Tata founded a trading company with ₹ 21,000 capital. Jamsetji was a dreamer and had some goals – setting up an iron and steel company, a unique hotel, a top-notch learning institution and a hydro-electric plant. During his lifetime, he saw the opening of the Taj Mahal Hotel at Colaba in 1903. After Jamsetji’s death, when Dorabji Tata became the chairman in 1904, he ensured to convert all of his father’s dreams into reality. Having said that, he established the Tata Iron and Steel Company (TISCO) in 1907 now known as Tata Steel. Followed by that, other goals were achieved with the establishment of Tata Power and Indian Institute of Science. In 1938, J.R.D. Tata became the chairman of the Group. The assets of the Tata Group grew from US$101 million to over US$5 Billion. Engineering, cosmetics, technology, tea, marketing and software services were the new sectors that earned them recognition. Two of the major companies, i.e. Tata Engineering and Locomotive Company Ltd.(now known as Tata Motors) and Tata Consultancy Services were found in 1945 and 1968 respectively. In 1991, Ratan Tata became the chairman of Tata Group. During his chairmanship many companies were acquired by Tata Group, some of them include Tetley(2000), Corus(2007), Jaguar and Land Rover(2008). Natrajan Chandrasekaran was made the chairman of Tata Group in 2017.
Tata Group received the Carnegie Medal of Philanthropy for supporting numerous research, educational and cultural institutes in India. Some of them are : Tata Institute of Fundamental Research, The Energy and Research Institute, National Centre for Performing Arts, Tata Football Academy, Tata Institute of Social Science, Tata Management Training Centre, Tata Memorial Hospital, etc. Tata Group have donated more than US$205 million dollars to some of the renowned universities like Cornell University(2008), Harvard Business School(2010), University of California(2017), Carneige Mellon University (2017) for educational and research purposes. The year 2020, Tata Group also donated 1500 crores to PM Cares Fund to fight against Corona Virus in India.
Tata Group acquired several companies across the globe which makes it one of the biggest multinational conglomerate in India. Some of the acquisitions are below :
- February 2000 – Tetley Tea Company, $407 million
- March 2004 – Daewoo Commercial Vehicle Company, $102 million
- July 2005 – Teleglobe International Holdings, $239 million
- December 2005 – Brunner Mond Chemicals, $10 million
- June 2006 – Eight O’Clock Coffee, $220 million
- November 2006 – Ritz Carlton Boston, $170 million
- January 2007 – Corus Group, $12 billion
- February 2008 – General Chemical Industrial Products, $1 billion
- March 2008 – Jaguar Cars and Land Rover, 2.3 billion
Interesting Facts about the Tata Group
- India’s Largest Conglomerate – It has its products and services over 150 countries and operations in 100 countries across the globe.
- Jamsetji Tata, the founder of The Tata Group is also known as the ‘Father of Indian Industry’.
- It has around 7,00,000 employees, which makes it the third largest employer in India.
- It contributed around 4% to the country’s GDP and paid a whopping tax of ₹47,195 crores which was India’s 2.4% of total taxation.
- Tata Global Beverages became world’s largest tea company according to 2018 stats, as around 4.5 crores cup of Tetley Tea were consumed across the globe.
The Tata Group has been a significant contributor to the India’s growth story. It’s philanthrophical work has been remarkable, not only in India but all across the globe. The Tata Group has really helped shaping Indian Economy and will continue to do so for many centuries to come. Ratan Tata’s vision is ‘to see India a happy place’ and the Group is surely working towards the same. Thank you for reading!!