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

Ratan Tata, the iconic Indian business tycoon and branding genius, passed away at 86. His legacy offers lessons in marketing, innovation, and social responsibility.

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.

The patriarch of a powerful family, his Tata Group put an indelible stamp on Indian life while acquiring British brand names like Tetley Tea and Jaguar.

T wo things are often said of Ratan Tata, former head of the Tata Group, one of India’s mightiest conglomerates: he was a giant of Indian business, and among its most virtuous figures. For a society as fractious as India, the esteem in which he was held was remarkably wide.

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

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.