Jump to content

Tata Group

From Simple English Wikipedia, the free encyclopedia
Tata Group
Company typePrivate
IndustryConglomerate
Founded1868; 156 years ago (1868)
FounderJamsetji Tata
HeadquartersBombay House, Mumbai, Maharashtra, India
Area served
Worldwide
Key people
Products
See list
RevenueIncrease US$128 billion[3] (FY 2022)
Number of employees
935,000[3] (FY 2022)
SubsidiariesSee list
Websitetata.com

The Tata Group (/ˈtɑːtɑː/) (or simply TATA; designed as TΛTΛ) is an Indian multi-national company. It's headquarters is in Mumbai, Maharashtra.[4][5] It is India's largest group of companies with products and services in over 150 countries, and operations in 100 countries across six continents. It was founded in 1868 by Jamshedji Tata who is sometimes referred to as the "father of Indian industry".[6]

Each Tata company operates independently under the guidance and supervision of its own board of directors and shareholders.[7] These trusts control over 66% of the Tata holding company Tata Sons, while the family of Tata is a very small shareholder.[8]

There are 29 publicly listed Tata Group companies with a combined market estimating $311 billion as of March 2022.[3] The company has operations across Asia, Africa, America and Middle East. Some of the subsidiaries are Tata Steel, Tata Motors, Air India, Titan company.

History

[change | change source]

1839–1904

[change | change source]
Indian Institute of Science in Bangalore foundation was laid by Jamshedji Tata.

Jamshedji Nusserwanji Tata was born in 1839. Tata graduated from Elphinstone College in Bombay in 1858. Shortly afterwards, he joined his father's trading firm that dealt in general merchandise. There, the junior Tata took a special interest in developing trade with China.

The Taj Mahal Palace Hotel in Mumbai is owned by Tata Group.

When the American Civil War caused a boom in the Bombay cotton market, Tata and his father joined the Asiatic Banking Corporation. When the tide ebbed, Tata's credit was left desolate. Fortunately, the firm's credit was re-established during the next three years. A share in the lucrative contract for the commissariat of Napier's expedition to Abyssinia in 1868 restored the family fortune." In 1870 with Rs.21,000 capital, he founded a trading company.[9] Further, he bought a bankrupt oil mill at Chinchpokli and converted it into a cotton mill, under the name Alexandra Mill which he sold for a profit after two years. In 1874, he set up another cotton mill at Nagpur named Empress Mill. He dreamed of achieving four goals, setting up an iron and steel company, a unique hotel, a world-class learning institution, and a hydroelectric plant. During his lifetime, in 1903, the Taj Mahal Hotel at Colaba waterfront was opened making it the first hotel with electricity in British India.

1904–1938

[change | change source]

After Jamsetji's death, his older son Dorabji Tata became the chairman in 1904.[9] Sir Dorabji established the Tata Iron and Steel Company (TISCO), now known as Tata Steel in 1907. Marking the group's global ambitions, Tata Limited opened its first overseas office in London. Following the founder's goals, Western India's first hydro plant was brought to life, giving birth to Tata Power. Yet another dream, Indian Institute of Science was established with the first group of students admitted in 1911.

1938–1991

[change | change source]
J. R. D. Tata became chairman of Tata Group from 1938 - 1991.

J. R. D. Tata was made chairman of the Tata Group in 1938. Under his chairmanship, the assets of the Tata Group grew from US$101 million to over US$5 billion. Starting with 14 enterprises, upon his departure half a century later in 1988, Tata Sons had grown to a conglomerate of 95 enterprises. These enterprises consisted of ventures that the company had either started or in which they held a controlling interest. New sectors such as chemicals, technology, cosmetics, marketing, engineering, manufacturing, tea, and software services earned them recognition.[10]

In 1932,[11] JRD founded an airline, known as Tata Air Services (later renamed Tata Airlines). In 1953, the Government of India passed the Air Corporations Act and purchased a majority stake in the carrier from Tata Sons, though JRD Tata would continue as chairman till 1977.

In 1945, Tata Motors was founded, first focused on locomotives. In 1954, it entered the commercial vehicle market after forming a joint venture with Daimler-Benz. In 1968, Tata Consultancy Services was founded.

1991–Present

[change | change source]
Ratan Tata, the former chairman of the company, led the acquisition of several companies by Tata Group.

In 1991, Ratan Tata became chairman of Tata Group.[12] This was also the year of economic liberalization in India, opening up the market to foreign competitors.[13] During this time, Tata Group began to acquire several companies. Tata Group bought Tetley In February 2000. After that, it acquired Corus Group in 2007. In the year 2008, it acquired Jaguar and Land Rover. The company's subsidiary Tata Motors launched the Tata Nano which they presented as "the world’s most affordable car" in 2008.[14]

References

[change | change source]
  1. ↑ "Tata Sons confers title of Chairman Emeritus on , Cyrus Mistry to be Chairman from December 28". The Economic Times. Archived from the original on 27 May 2022. Retrieved 27 May 2022.
  2. ↑ "Supreme Court stays NCLAT order restoring Cyrus Mistry as Tata Sons Executive Chairman". ET News. 11 January 2020. Archived from the original on 16 March 2020. Retrieved 14 January 2020.
  3. ↑ 3.0 3.1 3.2 "Investors | Tata group". www.tata.com. Retrieved 2022-12-31.
  4. ↑ "Tata Group | History, Companies, Subsidiaries, & Facts | Britannica". www.britannica.com. Archived from the original on 7 October 2020. Retrieved 2022-04-04.
  5. ↑ "Tata Group". Titan Corporate. 2018-04-09. Archived from the original on 24 January 2021. Retrieved 2022-04-04.
  6. ↑ "Ratan Tata | Jamsetji Tata: Ratan Tata pays tribute to Tata Group founder Jamsetji, the 'father of Indian industry', on his birth anniversary". The Economic Times. Archived from the original on 31 May 2022. Retrieved 2022-04-04.
  7. ↑ "Tata Sons | Tata group". www.tata.com. Archived from the original on 18 March 2022. Retrieved 2022-04-04.
  8. ↑ "Tata success story is based on humanity, philanthropy and ethics". The Economic Times. Archived from the original on 27 May 2022. Retrieved 2022-04-04.
  9. ↑ 9.0 9.1 "Our Timeline: The Complete Story | Tata group". www.tata.com. Archived from the original on 20 October 2021. Retrieved 20 October 2021.
  10. ↑ "Tata Group | History, Companies, Subsidiaries, & Facts". Encyclopedia Britannica. Archived from the original on 7 October 2020. Retrieved 2020-03-20.
  11. ↑ "Our Timeline: The Complete Story | Tata group".
  12. ↑ "Here's a brief history of the Tata Group's six chairmen". www.businesstoday.in. 25 October 2016. Archived from the original on 27 October 2020. Retrieved 2020-07-31.
  13. ↑ "One more push". The Economist. ISSN 0013-0613. Archived from the original on 31 August 2020. Retrieved 2020-07-31.
  14. ↑ "World's cheapest car debuts in India". HISTORY. Archived from the original on 19 March 2022. Retrieved 2022-04-04.

Other websites

[change | change source]
Retrieved from "https://simple.wikipedia.org/w/index.php?title=Tata_Group&oldid=9789341"