TATA Group Inspring Success Story

Tata group a pioneer name in Indian industry, founded  by Jamsetji Tata in the year1868. Tata group was headquartered in Mumbai, Maharashtra, India. Now Tata group has became a conglomerate multinational group with strong background of economic assets of US$126 billion. It is only by the strong will of independent industrialist Jamsetji N Tata. He Flagged off to a victory. Tata group has laid the foundation stone in Indian industry by seeding pioneering businesses in sectors such as steel, energy, textiles and hospitality. Now the Tata family is a prominent Indian business family.

Jamsetji Tata was born to a family of Parsi priests in Navsari, Gujarat, on March 3, 1839. He came to Mumbai at the age of 14. The foundation of what would grow to become the Tata group was laid in 1868 by Jamsetji Nusserwanji Tata. He was 29-year-old  at that time, and he had learned the basics of business while working in his father’s banking firm when he established a trading company. Then a textile mill in central India in the 1870s. Empress Mills, a textiles venture set up in Nagpur in central India in 1877, was the first of the big industrial projects undertaken by the Tata group. Jamsetji Tata was by this time, had already achieved his great three  ideas of his life by setting up an iron and steel company, generating hydroelectric power and creating an institution of science in India. He actually followed his dream to fruition while his life time and raised by his followers from his family. In 1892, Jamsetji Tata established the JN Tata Endowment to encourage Indian scholars to take up higher studies. It was the first of a multitude of philanthropic initiatives by the Tata group. Much of their wealth had been used for these kind of initiatives.

Tata enterprises undertaken Taj Mahal Hotel in Bombay, which opened for business in 1903. Jamsetji Tata set his mind on building it after being denied entry into one of the city’s fancy hotels for being an Indian. Today, the Taj Group of Hotels is a byword for luxury and quality, with standout properties across the world.In 1904 Jamsetji Tata passed away and the chairmanship of the Tata group came to his elder son Sir Dorab Tata. From that decade he truly followed his father’s extraordinary dreams and made it a reality by setting up, in 1907, of the Tata Iron and Steel Company. After seven years India’s first iron and steel plant, in Jamshedpur in the eastern part of the country, started production. And in 1915, the Tata group broke new ground once again, this time by generating hydroelectric power from a site near  by Bombay. Along with that Jamsetji Tata’s long-cherished dream of establishing an institution was realised. The Indian Institute of Science, set up in Bangalore, would nurture some of the brightest minds in India. He added the next feather to Tatas crown by adding Tata Institute of Fundamental Research, Tata Memorial Centre, JRD Tata Ecotechnology Centre.

Tata companies  began townships for it’s employees well being. Presently over 660,000 people  are employed worldwide. Taking good care of this large family is a priority for the Group, and it has a tradition to stay true to while doing so. By the time of Sir Dorab Tata’s death in 1932, the Tata group had consolidated its businesses while also getting in new areas, notably insurance and the production of soaps, detergents and cooking oil. Sir Dorab was succeeded as chairman of the Group by Sir Nowroji Saklatwala. In 1938, following Sir Nowroji’s demise, 34-year-old JRD Tata (left) was appointed as the new chairman. He would lead the Tata group for the next 53 years with wisdom, foresight and a rare grace that touched everyone he met. The first of JRD Tata’s big move towards business was born of a childhood fascination for flying. In 1929, he became one of the first Indians to be granted a commercial pilot’s licence. In 1932, Tata Aviation Service, Tata Airlines and Air India, India’s national carrier started. The maiden flight in the history of Indian aviation took off from Drigh Road in Karachi, now in Pakistan, with JRD Tata at the controls of a Puss Moth. In 1953, the Indian government nationalised Air India.

The Tata group expanded regularly into new spheres of business. The more prominent of these ventures were Tata Chemicals (1939), Tata Motors and Tata Industries (both 1945), Voltas (1954), Tata Tea [(1962) now known as Tata  Global Beverages],  Tata Consultancy Services (1968) and Titan Industries (1984). After the indepenc in India government had tight control over business but Tata group over came all the obstacles. The legacy continued after JRD Tata’s death. Ratan Tata, who took over as chairman in 1991,  guided the Tata group in a fast-changing business environment where old rules did not apply and new realities were taking hold. Mr Tata retired as Chairman of Tata Sons on December 28, 2012.

Tata group, in the past decades has changed more than ever before in its long and illustrious history. Rejuvenating existing businesses, entering new ones, manufacturing breakthrough products and expanding into foreign markets are among the initiatives the Group has undertaken with vigour during this period. Entry in to Tata Teleservices was set up to tap into India’s burgeoning telecom market; in 1998, the Indica, India’s first indigenously made car, was successfully launched; in 2002, the Group acquired VSNL, India’s top international telecom service provider; in 2004, Tata Consultancy Services went public in the largest private sector initial public offering in the Indian stock market; and, in 2008, the trailblazing Tata Nano was unveiled.

Business excellence  and glory of Tata group has reached the peak but they never stopped and still there is a focus on innovation. The non changed factor is the group’s emphasis on ethical business practices and its commitment to the communities in which it operates. Business excellence of the group continue to raise  by the  big acquisition of  Tata Tea of Tetley back in 2000. In 2004, Tata Motors acquired the heavy vehicles unit of Daewoo Motors, South Korea; in 2005, Tata Steel acquired the Singapore-based NatSteel and Tata Chemicals secured a controlling stake in Brunner Mond Group, UK. The largest acquisition happened in 2007, when Tata Steel acquired Corus, the Anglo-Dutch giant, in a landmark deal, and in 2008 Tata Motors added the Jaguar and Land Rover brands to its stable. TATA group leaves it’s foot prints reached across Asia.

 

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