Indian Prime Minister Narendra Modi praised Tata as "a visionary business leader", saying he's "extremely pained" by the death. Tata ran the conglomerate for over20 years as chairman.

Hundreds of people, including corporate leaders, politicians and celebrities, gathered in Mumbai on Thursday to pay their last respects to one of India's most respected business tycoons, Ratan Tata, who died aged 86.

Ratan Tata, who studied structural engineering in the United States and worked there for a short time, reportedly had no intention of returning to India. However, he later changed his mind.