Best of the Week: Why Ratan Tata's loss feels personal to many Indians

For as long as I can remember, Tata brands have been woven into the fabric of our daily lives. My earliest memory of this iconic name is Tata Salt—the brand that perfectly encapsulates the Tata Group’s legacy as "India’s salt-to-software conglomerate."

The Tata name doesn't just evoke familiarity; it inspires trust. As I grew up, I realised that this trust extended beyond the salt in our kitchen to a diverse range of products—from automobiles to airlines, and from software to every Indian’s cherished cup of tea.

For most Indians, Tata is more than just a business or a brand. It's a part of who we are. I still recall reading about Jamshetji Nusserwanji Tata, the visionary founder of the Tata Group, in my Hindi textbook. That was when I understood the immense contribution Tata had made to India—not just as a business but as a builder of the nation. From establishing educational institutions to shaping Mumbai into India's financial heart, the Tata legacy runs deep in the veins of our country. Ratan Naval Tata, the third-generation leader, took the reins from his uncle, JRD Tata, and led the group onto the global stage, further cementing its influence on Indian business and culture.

So, when the nation learned of the passing of Ratan Tata earlier this week, it felt like a personal loss for millions. Known for his humility, love for animals, and unwavering care for his employees, Ratan Tata wasn’t just an industrialist—he was a figure of inspiration and humanity.

At Mint, we pay tribute to this extraordinary leader. Click here to explore a collection of stories curated by our team of reporters on the life and legacy of Ratan Tata.

On to the best of Mint’s journalism from this week:

✅ Election results for Haryana and Jammu & Kashmir were announced this week. While democracy made a comeback in J&K, the BJP staged a dramatic return in the Haryana elections, securing a mandate to form the government for the third consecutive time. In J&K, Omar Abdullah's National Conference returned to power. Click here to understand the results through charts and graphs.

🎬 RP Sanjiv Goenka Group’s music label Saregama India is eyeing a big move into the film industry by potentially snagging a majority stake in Karan Johar’s Dharma Productions. This isn't a done deal yet—sources told Lata Jha that the deal is still up in the air. This follows its acquisition of digital entertainment player Pocket Aces Pictures. Why the interest in Dharma Productions? Well, Dharma’s been feeling the heat from the unpredictable box office, pricey star fees, and shrinking revenue from traditional rights deals. These challenges are pushing it to find a financial lifeline to keep up its operations. 

📈 As tensions in West Asia escalate, you might be worried about your portfolio. But despite historical volatility, stock markets have shown resilience in the face of geopolitical tensions. Notably, the US stock market has, on average, only dipped 5% during major events since World War II—and recovered quickly. Abhishek Mukherjee writes that the pattern is similar for Indian markets.  The NSE Nifty in India quickly rebounded after initial losses following the Russia-Ukraine conflict, as well as the tensions in Gaza. However, for India, the primary concern amid such conflicts remains the impact on oil prices. India has a significant dependence on oil imports, which are crucial to its macroeconomic stability. If any war-related tensions lead to prices of oil rising, the markets may not take to it very kindly.

🧳 Indians eager to travel abroad face a mixed bag of options, with the Indian passport ranking 81st globally. It offers visa-free access to 29 countries and visa-on-arrival in 28 others. However, the rise of e-visas and Electronic Travel Authorizations brings both convenience and potential pitfalls. For a smoother experience, e-visas are increasingly popular among Indian tourists. These allow you to apply from home without visiting an embassy. But remember, these come with variable processing times and fees. Common pitfalls include documentation errors leading to application rejections. It's critical to ensure your application details match your documents perfectly and to apply well in advance of your travel. Read this piece by Mint Money’s Jash Kriplani if you want to streamline your international travel by using e-visas. 

🤝 The Adani group is planning to merge Ambuja Cements and ACC into one mega cement company valued over ₹2 trillion, aiming to create India's biggest cement manufacturer. This merger could be a game-changer in the cement industry. The idea is to simplify the structure under one umbrella company, Adani Cement Ltd, while keeping the well-known brands distinct. The move aligns with Adani's goal to lead the cement market by 2028. However, the plan is not without its hurdles. Regulatory issues, especially around mining rights, have tripped up similar mergers before. Anirudh Laskar reports on the consolidation move.

🧑‍⚖️ India's Ministry of Law and Justice is considering updates to the Civil Procedure Code to streamline civil lawsuits and reduce court backlogs. Inspired by the effective Commercial Courts Act, the proposed reforms aim to incorporate mandatory timelines and mediation efforts to expedite legal processes. This initiative is part of broader judicial reforms, including recent revisions to major criminal laws, aimed at speeding up justice. With over 5.6 million pending civil cases, these reforms are crucial for enhancing the efficiency of India's judicial system. The goal is to modernize the CPC, established in 1908, and ensure it meets contemporary legal needs more effectively, reports Manas Pimpalkhare.

👨‍🌾 Agricultural employment in India is rising. A recent survey showed that 46.1% of Indians now work in the farm sector, as opposed to 42.5%t before the 2020 covid-19 outbreak. The primary drivers are the lack of better-paying jobs and more participation from women. Sayantan Bera writes that this raises concerns about productivity and disguised unemployment. Meanwhile, the political pressure for more state support due to agriculture's uncertain income continues to increase. He makes sense of the survey and proposes some solutions to counter this worrying trend.

📺 Bigger TVs are about to get cheaper! Televisions and ACs are in for a boost, thanks to some new government perks. The Ministry of Electronics and Information Technology plans to scrap import duties on TV panel open cells, Shouvik Das and Mihir Mishra report. This cut could make big-screen TVs cheaper in the country and is part of a bigger plan to crank up domestic TV production from 28-45%. The government is also looking at dropping customs duties on some TV parts and reducing the GST on local production of display panels from 28-18%. The Centre is also considering setting up local factories to boost domestic manufacturing of display components. Why does this matter? Well, the cost of display panels and open cells can make up half the price of a TV. Currently, most of these parts are imported, meaning a lot of the money from TV sales ends up outside India.

🔋 India's renewable energy sector is seeing an unusual trend—companies are trading grid connectivity, with some aiming to profit quickly. Nehal Chaliawala spoke to executives who revealed that up to 10 gigawatts of the capacity to transfer renewable energy to the grid is up for grabs, priced between ₹15 lakh to ₹25 lakh per megawatt. In FY24, India ramped up its renewable capacity by 18.5 gigawatts to a total of 153 gigawatts. However, the infrastructure needed to connect these new green power sources to the Inter-State Transmission System hasn't kept pace. This mismatch has opened a door for middlemen and opportunists. The sellers range from companies altering their business strategies to opportunistic entities looking to cash in. Some engineering and construction firms even secure connectivity to resell it, tying it to contracts for building renewable projects.

🏑 After struggling for over two decades to keep the momentum going, India's domestic hockey leagues are making a comeback with the Hockey India League (HIL), now featuring both men's and women's teams. Fresh off the back of consecutive Olympic bronze medals, the league's revival is leaning on strong marketing strategies and a solid financial plan. It’s aiming to draw in fans old and new with cool digital campaigns and some serious financial backing to ensure it sticks around this time. The focus is on picking franchise owners who are not just financially sound but also passionate about promoting the sport, setting up this year’s HIL to potentially turn hockey into a regular highlight on the global sports calendar. We invited Venkat Ananth to write about this year's edition, its financials, and the possible marketing plans to make hockey a widely-watched sport.

🛵 The Indian government is stepping up scrutiny of Ola Electric amid rising customer complaints and potential violations of consumer rights. Following a show cause notice from India's apex consumer protection authority due to unresolved issues reported to the National Consumer Helpline, the Heavy Industries Ministry is questioning Ola's compliance with warranty and service norms under two subsidy schemes, reports Alisha Sachdev. This could jeopardize Ola’s financial incentives under these programs if discrepancies are confirmed. The Central Consumer Protection Authority (CCPA) is also considering a class action against Ola Electric for a plethora of grievances, including misleading advertisements and charging for supposedly free services. 

💸 Faced with cost pressures, companies are keen on retaining their employees. Some plan to disburse more than 90% of variable pay since raises are expected to be modest this year. Key sectors such as manufacturing, auto, and IT are likely to pay bonuses in full, while the retail and consumer sectors will be more cautious. Anandorup Ghose from Deloitte India tells Devina Sengupta that while bonus payouts are typically within 90-110% of the target, variable pay differs by seniority. Roopank Chaudhary of consulting firm Aon notes that though some sectors have seen improvements, overall bonus projections for 2025 are similar to last year's, at about 13.6% of fixed pay. Salary hikes are expected to be around 9.5% next year, a slight increase from 9.3% this year.

That's all for this week. I hope you have a pleasant weekend!

If you have any feedback, want to talk about food, or have anything else to say about our journalism, write to me at siddharth.sharma1@htdigital.in or reply to this mail. You can also write to feedback@livemint.com.

Best,

Siddharth Sharma 

Community Editor