Do you know Ratan Tata joined Tata Steel after turning down a lucrative offer from an American multinational tech company.
Ratan Tata breathed his last at the age of 86 at a Mumbai hospital on October 9, leaving behind a remarkable journey filled with great achievements and philanthropic work. Tata wore several hats during his lifetime, most of which we know, but there are some incidents that tell us more about him. One such incident is related to one of the oldest and most important companies in the Tata Group—Tata Steel. It is the company where Ratan Tata started his career. Most of people know this, but the interesting part is that Tata joined Tata Steel after turning down a lucrative offer from an American multinational tech company. He joined Tata Steel in 1961, and this decision proved significant not only for his career but also for establishing a deep connection with the company.
Which Company’s Offer Did Ratan Tata Turn Down?
Tata started his career after turning down a lucrative offer from IBM to join Tata Steel in 1961. It’s worth noting that Tata turned down IBM’s offer at the suggestion of JRD Tata, who did not want him to spend his talent on the growth of another company. Therefore, he requested Ratan Tata to join Tata Steel. Ratan Tata obeyed JRD’s advice and took command of Tata Steel.
Tata Steel
Tata Steel was founded by Jamshedji Tata in 1907. It became India’s first private steel company. The company undoubtedly has played a crucial role in the country’s industrial progress, especially before and after independence. During the time of independence, when the country desperately needed steel for developmental works, Tata Steel stood shoulder to shoulder with India’s development. This company has remained the backbone of the country’s steel production.
A Difference of Nine Times
Tata Steel, is currently assessed to be worth close to Rs 2 lakh crore. The current value of its share is Rs 159. The value is very small as compared to other entities within its group, but this figure shrinks enormously when contrasted with the value of IBM. IBM’s market capitalisation stands at around Rs 18 lakh crore, which makes it about nine times bigger than Tata Steel.
Ratan Tata And His Bond With Tata Steel
Ratan Tata’s relationship with Tata Steel was very special as it not only gave him the start of his career but also taught him valuable lessons such as leadership skills and business management. Tata Steel’s working style has made it one of the most trusted companies in India.
Tata Steel holds an influential position in India’s industry. However the company’s influence extends far beyond economics, playing a pivotal role in uplifting community well-being.