Tata Group is an Indian multinational conglomerate holding company headquartered in Mumbai, Maharashtra. Founded in 1868 by Jamshedji Tata.
The salt-to-software Tata Group contains 96 operative companies in seven business sectors — also including steel, salt, software, energy, cars and trucks, and chemicals with a combined market capitalisation of about $151.62 billion as of March 1, 2018.
In 1869, Jamsetji converted a bankrupt oil mill for the production of cotton. It was a humble start, but he had grand visions of what India could become.
Jamsetji launched various schemes such as free medical help, crèches and primary classes for children of women mill workers. He also introduces the gratuitous pension fund, provident fund, maternity benefit allowance and a compensation fund for accidents for all employees.
Lord Reay’s speech ‘calling for real universities’ had an indelible impact on Jamsetji, who in later years donated half his fortune to build a university. Jamsetji writes a letter to Lord Reay offering half his fortune, 14 buildings and four landed properties to create the university of his dreams.
A leading British run hotel, the Majestic did not allow Indians inside. Jamsetji had taken one of his foreign guests to the hotel but was denied entry and had to go somewhere else to eat. This prompted the rise of the opulence that we know as the Taj Mahal Hotel(1903).
Sir Ratan Tata noted in his will, ‘If I have no children, I give the rest of the residue of my property … for the advancement of education, learning and industry in all its branches including education in economy, sanitary science and art or for other works of public utility…’ JRD Tata was India‘s 1st licensed pilot and founder of the country’s 1st commercial airline company Tata Airlines in 1932. Tata Airlines later renamed as Air India in 1946.
The best thing about Tata Group is despite diversification of business interests in several fields, Tata Group has up to now abstained itself from moving into alcohol business or tobacco business.
JRD TATA was the first indian industrialist to be awarded Bharat Ratna award.