Ratan Tata conferred UNSW's highest award

Rac,~ ;ata, chai_rman ~f Inrua s Jargest mdustrtal conglomerate, the Tata group, was conferred with Doctor o f Business Honoris Causa by the Unive rsity of New South Wales in late November.

David Gonski, the university's Chancellor awarded the degree in a g li ttering ceremon y that was so well -attended b y d1e alumni and d1e Australian-Indian community, the nniversicy bad to change the ve nue to the largest auditorimu on campus, which was filled beyo nd capacity.

Fred Hilmer, d1e universi ty's Vice Chancellor, read a citation thac eulogized Ratan Tata's contribution in service co cbe global community via adva ncement in technology, innova tion and higher education. His hallmark was listed as his willi ngness to pursue bold ideas such as the law1eh of lndica, the people's car in 1998; ano, d1e $2000 car; the wave of acquisitions that include Jaguar, Land Rover and Corns; and his successful campaign i n modernising the Tata Group. He was Forbes As.ia Businessman of the Year 2004 But the highest praise was reserved for his philanthropic activities. His family has been known to distribuce d1eir weald1 co dozens of medical , educational and social causes, and Ratan Tara bas accelerated the trend.

The formal ceremony was followed b y d1e Wallace Wurd1 leccure, as part of which Tata was interviewed by bod1 David Gonski and Fred Hilmer.

Talking abouc the Tata busin ess dynasty char goes back ro its founrung in 1860, be talked about his unplanned entry into business

He had graduated as an architect and was working as o ne in Los Angeles when he was called back and asked ro join rlle group. He worked for about 9 years on die coalface of business in rlle iron and steel works.

" Shovelling limestone on d1e production floor was a greac levelJe.r," recalled die famil y heir.

Tara acknowledged that while he was initially pushed into the business b y bis family, it later became meaningfol as he realised what he could achieve for the greater good of soc iety through d1e business.

Talking o f mentors, he mentioned JRD Tata, from whom he inherited dle Tata empire. They had a common love of aviation. He also mentioned Dr Bose, the owner of Lhe legendary audio company.

He listed his biggest achieve ment as streamlining me group.

W'hen he inhe1fred the group in 1991, me Tata Group was a loose confederation of over 300 companies mar he cons o lidated into 9 major groups. One of the major initiatives mat he used was to bu ild a common identity for the g roup companies on me basis of quality and common standards.

His b iggest contribution is leading d1e group from a conservati ve to a growth -oriented business group

Ratan Tata has helped me group hold on to dle values and ernics as the cornerstone of mis empire.

He was proud d1ac in an age of deteriorating values, he bas kept the group fumJy on the side of integrity. "~vfy goal was d1at we will not succwnb to any corruption; I wamed to go home at night and be proud of what we had done," he said, sharing hjs personal ideals wirn me rapt audience.

Only 2% of di e group is owned by me famil y, and the rest of the equity is held by vario u s cl1aricable trusts. Tata received immeas urable satisfaction in continuing the trarution of caring for the communities in which d1ey operate.

TaU<lng abouc d1e AustraliaIndia business and economic relationship, he mentioned drnt

Chancellor David Gonski

Australia has developed advanced technology in many areas, and India seeks some of it. In return , Australian business could rap inro the 350 millio n (soon to be 500600 million) strong midclle clas s He emphas ized th e role of s n1dencs in builrung bonds between cotrntries, going back to his fondness for the USA after he sturued and briefly worked mere. Free trade agreement, exchange of smdems and internship s is his three-pronged solution to puc our bilateral relationship to rlle next level.

Tam answered questions from rlle audience w id1 a great sense of htrn1our d1at had the audience in splits several times. He shared his le arning, views and opinions on a range of subjects from busi ness, democracy, role of women, education ere He asked young people, especially women , to get the best possible education and ro hold their ideals high in d1eir career, and this will lead to success He also acknowledged th at meritocracy was more important in die world rather than concept of quocas; quotas can create rusadvanraged groups out of advantaged groups, he said.

The conferral of U NSW's highest award ro Ratan Tata is an apt conclusion to an illustrious career during which he revi ved India's most respected industrial group and continued to shine a light for India's entrepreneurs and business people, on hmv to uphold values and work for society's greater good Ratan Tara retires on December 28.