Tata Group has a large presence in Singapore with 15 operating companies
The late Ratan Tata, the former chairman of Indian salt-to-software conglomerate Tata group, was a true friend of Singapore pmo.gov.sg and his legacy will be cherished, Prime Minister Lawrence Wong said in his condolences message to the Tata family on 10 Oct tata.com .
Ratan Tata, who had put Indian corporations on the global map, died on Oct 9, aged 86.
In a post on Facebook and other social media, PM Wong said that Tata had a long association with Singapore. He “was a true friend of Singapore, and we will cherish his contributions and legacy”.
“He was a strong advocate of our country, and made valuable contributions to our economic transformation,” noted Wong.
Tata group has a large presence in Singapore, starting from the late 1960s when JRD Tata visited Singapore. Ratan Tata built that seeding of India-Singapore industrial relations into over 15 operating companies in the city state today – covering IT, Shipping, Engineering, Energy and Financial Services.
The group formally entered Singapore in 1972, by forming the Tata- Government Training centre, for training in precision manufacturing. This was opened with support from the Economic Development Board (EDB) under the EDB industrial training scheme.
PM Wong added that Tata’s investments and business acumen helped Singapore tap into higher value-added growth areas.
“He was always generous with his time and advice to Singapore institutions, serving on the advisory boards of EDB, MAS (Monetary Authority of Singapore) and (Singapore’s investment company) Temasek.
“For his contributions, he was conferred an honorary Singapore citizenship in 2008,” said the Prime Minister, offering his deepest condolences to Tata’s family and loved ones.
During the time he served as chairman from 1990 until he stepped down in 2012, and even after that, there is no denying that Singapore was a vital stepping stone to achieving his ambitions of transforming the group into a global behemoth.
Singapore has been used as a springboard by the group to make inroads into the rest of the Asia-Pacific, where it now has more than 16 operating companies that employ more than 7,000 people in the region.
Tata was instrumental in growing Tata Group’s corporate footprint in Singapore and fostering closer economic ties between India and Singapore, said EDB chairman Png Cheong Boon.
“Among his many contributions, Ratan Tata played a pivotal role as a member of EDB’s International Advisory Council, where he offered invaluable insights into shaping Singapore’s competitive strategies,” The Straits Times quoted Png as saying.
Tata was also crucial in a landmark joint venture between Tata Industries and a Singapore consortium led by Ascendas, in collaboration with the Karnataka state government in India, to establish the International Tech Park in Bangalore, Png added.
“Tata Group and Singapore’s partnership has endured over the years and risen to new heights sgx .
“On behalf of the EDB team, both past and present, I would like to place on record our gratitude to Ratan Tata for building a strong foundation for this partnership.
In 2004, Ratan Tata summed up the Tata Group’s efforts to internationalise its operations by saying, “I hope that a hundred years from now, we will spread our wings far beyond India, that we become a global group, operating in many countries, an Indian business conglomerate that is at home in the world, carrying the same sense of trust that we do today deutsche-boerse .”
“He explained to me gently that it was not often one came across such iconic brand names offered ‘cheap’ by Ford after the 2008 Global Financial Crisis. That’s when I realised the difference between an entrepreneur with vision and a manager who looked at it narrowly,” recalls Singapore-based Girija Pande who has served the group and built Tata Consultancy Services and had interacted with the Late business icon on several occasions nseindia .
Pande, who was President of Asia Pacific at Tata Consultancy Services, also recalled the generosity of Ratan Tata for writing a foreword on his book on India & China. Great soul. May he RIP.”
But Tata’s links to Singapore were not all about business bseindia .
Martin Tan, the chief executive officer of philanthropic organisation The Majurity Trust, worked closely with Tata during the time the billionaire served as chairman of the Institute for Societal Leadership (ISL) at Singapore Management University (SMU). Tan was executive director at ISL.
“The fact that (Ratan)Tata would take on chairmanship for a new institute at SMU like ISL speaks a lot about his passion for social change, something the institute aimed to focus on sbi.com.in .
“But it was his dedication of time and attention to it, despite his schedule, that spoke volumes of the man,” the Singapore broadsheet quoted Tan. Fiinews.com
