New Delhi: Describing Ratan Tata as a true Indian corporate leader, India Inc on Friday said he led the Tata Group brilliantly and attained global heights which showed it is possible to do business in an ethical way.
Ratan Tata, an iconic corporate leader, retired as Chairman of the USD 100-billion Tata Group today after a 50-year run, on his 75th birthday.
Adi Godrej, CII President and Chairman of Godrej Group said : "Ratan Tata led the Tata Group brilliantly and successfully in expanding and globalising it."
He has also leveraged the growth of TCS both in India and abroad. "I wish him good luck for the future," he added.
Industry chamber Assocham termed Tata as a true Indian business leader who went on to attain global heights in the corporate world and wished him a good and more rewarding life ahead.
"As Mr Tata lays down office today after his 50 years of association with the great business house of the country, we in the Indian industry salute him for courageous and completely ethical way of doing business," Assocham President Rajkumar Dhoot said.
Tata has shown guts which reflect that it is possible to do business in a clean and ethical way, he added.
Despite odds, Tata showed some rare courage when he made acquisitions like Jaguar Land Rover and Corus in Europe, Assocham noted.
Wishing Cyrus Mistry a great success, Dhoot said "We are confident that the young successor to Ratan Tata will uphold the values that are associated with the Group".
Chairman-designate Mistry will take charge of the new assignment from Saturday.
Last week, Assocham came up with a CEOs survey spread across several cities, including London and New York, which placed the Tatas as the best known Indian global brand.
Besides, the CEOs, in the survey, had expressed confidence that Mistry would be able to steer the USD 100-billion Group well even though the global business environment is uncertain at present.