Ratan Tata became the first-ever recipient of the award which was presented to him by Chief Minister Eknath Shinde and Deputy CMs Devendra Fadnavis and Ajit Pawar.
Mumbai: The Maharashtra government on Saturday conferred veteran industrialist Ratan Tata with the newly-instituted Udyog Ratna award for his contribution to the world of business.
Ratan Tata became the first-ever recipient of the award as Chief Minister Eknath Shinde and Deputy CMs Devendra Fadnavis and Ajit Pawar presented the 85-year-old chairman emeritus of Tata Sons with the award at his home in south Mumbai’s Colaba.
#WATCH | Industrialist Ratan Tata conferred with the Udyog Ratna award at his residence by Maharashtra CM Eknath Shinde and Dy CMs Ajit Pawar and Devendra Fadnavis pic.twitter.com/1s6GvxyZYh
— ANI (@ANI) August 19, 2023
The honour comprised a shawl, a citation and a memento from the Maharashtra Industrial Development Corporation (MIDC).
Talking to reporters afterwards, Shinde said honouring Tata as Udyog Ratna’ has enhanced the prestige of the award. “The contribution of the Tata group in all sectors is immense. Tata means trust,” he said.
“It’s a matter of immense joy that the Maharashtra government decided to confer the ‘Udyog Ratna’ award to Ratan Tata,” Shinde said.
VIDEO | “It’s a matter of immense joy that the Maharashtra government decided to confer the ‘Udyog Ratna’ award to Ratan Tata,” says Maharashtra CM Eknath Shinde. pic.twitter.com/pJdvTKWDfh
— Press Trust of India (@PTI_News) August 19, 2023
The Tata Group
Established in 1868, the Tata Group is the largest Indian multinational conglomerate with products and services spanning across six continents and over 150 countries. The Tata Group consists of 29 publicly listed companies with a combined market capitalisation of ₹23.6 lakh crore ($311 billion) as of March 2022.
In 2021-22, the collective revenue of Tata companies stood at $128 billion.
Ratan Tata took the helm of the Tata Group in 1991, the year of economic liberalization in India. Soon, the conglomerate began acquiring several companies and soon merged Tetley Tea in February 2000.
The Tata Group acquired Corus Group in 2007. In the year 2008, it acquired Jaguar and Land Rover. The group’s subsidiary Tata Motors launched the Tata Nano which they presented as “the world’s most affordable car” in 2008.
Recently, the Tata Group acquired Air India which later got the approval to acquire AirAsia India.
(With PTI inputs)
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