RARE Enterprises had a very close association with the Tata Group. They always believed in ideals, principles and policies. If you had to share an anecdote or story about Ratan Tata, what would be the first thing that comes to mind?
Utpal Sheth: First of all, let me say that Mr. Rakesh had the highest possible respect for the Tata Group. He had very strong feelings towards the Tata Group. And he truly believed that this group could never do anything bad, either at the corporate level or against minority shareholders or the country. He truly believed that the group had the philosophy and culture to ensure we had the right people, did business the right way, and created value. That is why he invested so strongly in this Tata group.
As for anecdotes, we have invested in multiple Tata group companies. And it is amazing to see that the value system and principled decision-making that Ratan Tata always exemplified is reflected in all of his group companies. As shareholders, Rakesh ji and Rare have had the privilege of being partners in this journey in whatever small way we can. We will always be grateful to this group. But more specifically, I believe that Mr. Ratan Tata will be forever missed as a gentlemanly leader unlike any Indian business leader that has come before him.
Therefore, you need to share with us something that you have never shared before or that only you two know, which the late Mr. Rakesh Jhunjhunwala said about Ratan Tata, Tata Group.
Utpal Sheth: In my interaction with this group, not Mr. Ratan Tata, I realized that the Tata Group is looking for people who are humble, humane and hungry. That left a phenomenal impression on Rakesh ji and me. It’s not just a theory about how a group was able to express in one sentence the spirit it wanted in its core members. We have seen group leaders exhibit these qualities over long periods of time.
