Ratan Tata, a senior industrialist, was given the newly established Udyog Ratna award by the Maharashtra government on Saturday for his contributions to business. Ratan Tata, the 85-year-old chairman emeritus of Tata Sons, was given the honour for the first time ever at his residence in south Mumbai’s Colaba by Chief Minister Eknath Shinde, Deputy CMs Devendra Fadnavis and Ajit Pawar.
Maharashtra Government Bestows Udyog Ratna Award on Ratan Tata
The award included a souvenir from the Maharashtra Industrial Development Corporation (MIDC), a shawl, and a citation. After the ceremony, Shinde spoke with media and claimed that Tata’s designation as Udyog Ratna has raised the award’s stature. “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.
Ratan Tata Receives Inaugural Udyog Ratna Award
The Tata Group, which was founded in 1868, is the largest international company in India, with goods and services available in more than 150 nations and on all six continents. As of March 2022, the 29 publicly traded companies that make up the Tata Group had a combined market value of $23.6 lakh crore ($311 billion). The combined revenue of Tata enterprises was $128 billion in 2021–2022. Ratan Tata became the head of the Tata Group in 1991, the year India’s economy underwent economic liberalisation. The conglomerate quickly started acquiring various businesses, and in February 2000 it combined Tetley Tea. Corus Group was purchased by the Tata Group in 2007. It Tribute to Excellence: Ratan Tata Receives Inaugural Udyog Ratna Awardrchased Jaguar and Land Rover in 2008. 2008 saw the introduction of the Tata Nano, billed as “the world’s most affordable car” by the group’s subsidiary Tata Motors. The Tata Group recently purchased Air India, which later received permission to purchase AirAsia India.
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