Ratan Tata a role model who inspired generations of entrepreneurs: Industry body Ficci

New Delhi: Industry body Ficci on Thursday mourned the demise of industry veteran Ratan Tata, describing him as a "role model who inspired generations of entrepreneurs and corporate leaders with his vision of ethical capitalism".

Ficci President Anish Shah said, "Ficci remembers Ratan Tata not just as a successful businessman but as a role model who embodied the values of integrity, humility, and social responsibility."

"His vision of ethical capitalism and his efforts to use business as a force for societal good have inspired generations of entrepreneurs and corporate leaders," Shah said.

The loss of Mr Tata leaves a void in the Indian business community that will be hard to fill, the industry body said, adding Ficci extends its deepest condolences to his bereaved family and friends.

Echoing similar sentiments, Assocham described him as an iconic leader whose influence extended beyond Corporate India making him a global leader with immense goodwill.

RIP Ratan Tata: As tributes pour in, track all updates in our blog.

"Mr Tata not only took a well-diversified Tata Group to several countries of the world but also immensely contributed to India's brand equity on the global landscape across sectors including information technology, automobile, steel and hospitality. His life would be an inspiration for India's entrepreneurs to think and go global, retaining an unblemished reputation and very high standard of corporate governance," Assocham Secretary General Deepak Sood said.

Chairman Emeritus of Tata Sons, 86-year-old Tata -- the recipient of the country's second highest civilian honour Padma Vibhushan -- passed away late on Wednesday evening at Mumbai's Breach Candy Hospital.

Born on December 28, 1937, in Mumbai, Tata's journey from a young engineer to the chairman of one of India's largest conglomerates is a testament to his visionary leadership and unwavering commitment to excellence.

His tenure at the helm of the Tata Group from 1991 to 2012 saw the transformation of the company from a largely domestic entity to a global powerhouse, setting new benchmarks for Indian businesses on the world stage.