‘A true friend of S’pore’: Billionaire Ratan Tata’s links with Republic went beyond just business

SINGAPORE – Mr Ratan Tata, the former chairman of Indian salt-to-software conglomerate Tata Group, “was a true friend of Singapore, and we will cherish his contributions and legacy”, Prime Minister Lawrence Wong said after the billionaire businessman died on Oct 9, aged 86.

In a post on Facebook and other social media on Oct 10, PM Wong said that Mr Tata had a long association with Singapore.

“He was a strong advocate of our country, and made valuable contributions to our economic transformation,” he said.

PM Wong noted that Mr Tata had expanded and diversified Tata’s operations in Singapore, from steel manufacturing to information technology.

He added that Mr 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 (Economic Development Board), 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 Mr Tata’s family and loved ones.

Tata Group had a presence in Singapore long before Mr Tata took over the reins of the company.

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.

Since the group set up Tata Precision Engineering in Singapore in 1973, the Republic has become a nodal international location for the business, with more than 3,300 employees.

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.

EDB chairman Png Cheong Boon told The Straits Times that Mr Tata was instrumental in growing Tata Group’s corporate footprint in Singapore and fostering closer economic ties between India and Singapore.

“Among his many contributions, Mr 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,” said Mr Png.

Mr 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, Mr Png added.

“Tata Group and Singapore’s partnership has endured over the years and risen to new heights.

“On behalf of the EDB team, both past and present, I would like to place on record our gratitude to Mr Ratan Tata for building a strong foundation for this partnership.

“We will always regard him as a dear friend of Singapore,” said Mr Png.

In 2004, Mr 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.”

But Mr Tata’s links to Singapore were not all about business.

Mr Martin Tan, the chief executive officer of philanthropic organisation The Majurity Trust, worked closely with Mr Tata during the time the billionaire served as chairman of the Institute for Societal Leadership (ISL) at Singapore Management University (SMU).

Mr Tan was executive director at ISL.

“The fact that Mr 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.

“But it was his dedication of time and attention to it, despite his schedule, that spoke volumes of the man,” Mr Tan told ST.

“He made sure we had time for chats outside of work,” he said, recalling how Mr Tata took him and his family out for dinner and entertained questions that his nine-year-old and 11-year-old daughters had.

“When I stepped down in 2017, he told me to bring my family to visit him in Mumbai, which we did in 2018 and subsequently in 2022.

“There was absolutely no need for him to be as generous as he did with his time for me and my family after I left SMU,” said Mr Tan.

“I have learnt a lot from the time I had with him, his thinking about issues during our chats...

“And no matter how successful he was, he always had time for people who had nothing to offer but a simple friendship.

“For that, I am truly grateful to have known the man,” he added.