Why did India adore billionaire Ratan Tata? Harsh Goenka's old post holds the answer
Ratan Tata's passing at the age of 86 has left a profound void in the hearts of many Indians. As a billionaire, he earned the love and respect of millions for his humility and philanthropy. Here¡¯s a glimpse into his remarkable contributions as a philanthropist.
Billionaires rarely garner the widespread affection that Ratan Tata did. His passing, just over two months before his 87th birthday, has left Indians with a profound sense of loss. Harsh Goenka, Chairperson of RPG Group, in an old post had once captured the reason for this deep admiration in a thoughtful post.
Indians hate the rich, so why do they love Ratan Tata?
Forbes lists Ratan Tata¡¯s net worth at an impressive $291 billion, firmly establishing him as a billionaire. Given that many Indians typically harbour disdain for wealthy individuals, what accounts for the consistent outpouring of love for Ratan Tata?
In a recent social media discussion about why Indians hate the rich, Zerodha CEO Nithin Kamath had suggested that this sentiment stems from the country¡¯s socialistic roots.
However, Harsh Goenka highlighted an important distinction: while some billionaires may be disliked ¡ª not all face the same fate.
Goenka emphasised this point by mentioning Ratan Tata, stating, "Indians celebrate good billionaires like Ratan Tata, Azim Premji, and Anand Mahindra¡ªthey¡¯re loved and emulated for their humility, philanthropy, and values."
Here¡¯s my point of view: Indians celebrate good billionaires like Ratan Tata, Azim Premji, and Anand Mahindra¡ªthey¡¯re loved and emulated for their humility, philanthropy, and values. What we dislike are those who flaunt wealth, corrupt the system, and prioritize personal gain¡ pic.twitter.com/BVa8adRPGY
¡ª Harsh Goenka (@hvgoenka) October 1, 2024
So then, in simple words, this is why Ratan Tata was so beloved by Indians: for his commitment to philanthropy, his understated lifestyle, and his genuine humility.
Ratan Tata: A glimpse into his philanthropy
Ratan Tata is a key trustee of the Tata Trusts, which own about 66% of Tata Sons, the holding company of the Tata Group.
Under his leadership, the Tata Trusts have invested in numerous initiatives to enhance healthcare access for marginalised communities, including maternal and child health programs.
Credit: AP
One of their notable projects is the Tata Memorial Hospital in Mumbai, which provides comprehensive cancer care and is recognised as one of India¡¯s leading cancer treatment centers.
In 2014, the Tata Trusts granted Rs 750 million to the Centre for Neuroscience at the Indian Institute of Science to study the causes of Alzheimer's disease and develop early diagnosis and treatment methods. The grant is spread over five years.
Ratan Tata has also played a significant role in supporting the Tata Institute of Social Sciences (TISS), which focuses on social work and community development. Additionally, he has funded scholarships for underprivileged students and improved educational infrastructure through various initiatives.
The Tata Education and Development Trust, a philanthropic branch of the Tata Group, established a $28 million Tata Scholarship Fund at Cornell University. This fund enables financial aid for undergraduate students from India, ensuring that talented individuals can access education regardless of their financial situation.
Credit: BCCL
The Tata Trusts work to create sustainable livelihoods for rural populations through programs that support agriculture, skill development, and entrepreneurship. They are also involved in housing initiatives for economically weaker sections of society.
In collaboration with the Indian Institute of Technology, Bombay, the Tata Group founded the Tata Center for Technology and Design (TCTD) in 2014 to develop engineering principles tailored to the needs of communities with limited resources.
Ratan Tata has championed women¡¯s empowerment by supporting various programs aimed at improving health, education, and economic opportunities for women in rural areas. He has also been active in disaster relief efforts, providing funding during natural disasters such as the 2001 Gujarat earthquake and the 2013 Uttarakhand floods.
Credit: BCCL
Furthermore, he advocates for sustainable development and environmental conservation through projects that promote clean energy and resource conservation.
Beyond his work with the trusts, Ratan Tata has made personal donations to various social welfare, education, and health causes.
These points represent just a portion of Ratan Tata¡¯s extensive contributions to the people of India and society as a whole.
But it all reflects who he was¡ªjust as Forbes aptly describes him, 'India's best brand ambassador.'
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Srishti B Dutta brings you everything from rags-to-riches tales and inspiring student success stories to those "No way, this can't be real!" moments. Whether it's intriguing, heartwarming, or just plain quirky, she's got it covered.
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