Indian business icon tycoon Ratan Tata, known for his $100 billion annual revenue, takes his final bow at the age of 86

Indian business magnate Ratan Tata, who oversaw the Tata Group for almost twenty years, passed away at the age of eighty-six.

Tata was one of the most well-known businessmen in India outside of its borders.

One of the biggest corporations in India, the Tata Group generates more than $100 billion (£76.5 billion) in revenue annually.

Tata's current chairman of Tata Sons called him a "truly uncommon leader" in a statement announcing his passing.

"On behalf of the entire Tata family, I extend our deepest condolences to his loved ones," Natarajan Chandrasekaran continued.

"His legacy will continue to inspire us as we strive to uphold the principles he so passionately championed."

The UK-based automakers Jaguar and Land Rover, the second-largest tea manufacturer in the world, Tetley, and the Anglo-Dutch steelmaker Corus were among the high-profile purchases the conglomerate completed when he was chairman of the Tata Group.

Tata was hailed as a "titan of the business world" who "played a huge role in shaping British industry" by UK corporate Secretary Jonathan Reynolds.

Tata was referred to as a "titan" in an Economist magazine profile from 2011, which also gave him credit for turning the family business into "a global powerhouse".

Less than 1% of the company bearing his family name is owned by him. Nevertheless, the magazine noted, "He is a titan: the most powerful businessman in India and among the most important in the world.

He became chairman emeritus of Tata Sons, the group's parent corporation, after retiring from the position in 2012.

Tata was praised as a "visionary business leader, a compassionate soul, and an extraordinary human being" by Indian Prime Minister Narendra Modi.

In a farewell post on X, the erstwhile Twitter, Modi recalled his "countless interactions" with Tata and expressed his "extreme pain" at his passing.