India Industrial mogul Ratan Tata dies at the age of 86

Ratan Tata, the long-time head of the Indian Tata Group, has died at the age of 86. Prime Minister Narendra Modi spoke of Tata as a "visionary" leader, a "compassionate soul" and an "extraordinary human being".

Group Chairman Natarajan Chandrasekaran said late on Wednesday night: "It is with a deep sense of loss that we bid farewell to Mr. Ratan Naval Tata, a truly exceptional leader whose immeasurable contributions have shaped not only the Tata Group but also the fabric of our nation."

Tata's philanthropic work has touched "the lives of millions", the Tata Group further stated. "From education to healthcare, his initiatives have left a profound mark that will benefit generations to come."

Tata comes from an old Indian dynasty of industrialists. He was born in 1937 and headed the family group from 1991 to 2012. Tata turned it into a global company with countless subsidiaries. The Tata Group is represented in many business areas, including vehicle manufacturing, tea trading, telecommunications and financial services.