Ratan Tata, the iconic Indian business tycoon and branding genius, passed away at 86. His legacy offers lessons in marketing, innovation, and social responsibility.

"He provided stable leadership to one of India's oldest and most prestigious business houses. At the same time, his contribution went far beyond boardrooms," said Prime Minister Narendra Modi.

Ratan Tata, the former Tata Group chairman who put a staid and sprawling Indian conglomerate on the global stage with a string of high-profile acquisitions, has died, the Tata Group said in a statement late on Wednesday.