With the country’s economy on the cusp of historic change, the figure who did the most to lead Indian business onto the global stage is gone.

Ratan Tata, the former Tata Group chairman, has died at the age of 86, according to a statement from the Indian conglomerate.

Ratan Tata has died at a Mumbai hospital at age 86. Tata is the former chairman of India’s oldest conglomerate Tata Sons.

Oct 9 (Reuters) - Ratan Tata, the former Tata Group chairman who put a staid and sprawling Indian conglomerate on the global stage with a string of high-profile acquisitions, has died, the Tata Group said in a statement late on Wednesday. He was 86.

After the demise of legendary industrialist Ratan Tata, Noel Tata, the half-brother of Ratan Tata, has been appointed as the chairman of the Tata Trusts. He is the 11th chairman of the Sir Dorabji Tata Trust and the sixth at Sir Ratan Tata Trust.

Israeli Prime Minister Benjamin Netanyahu hailed industrialist Ratan Tata as a champion for the friendship between India and Israel.