Ratan Tata, a former chairman of Indian conglomerate Tata Sons hailed as a visionary business leader, died at a Mumbai hospital on Wednesday night. He was 86.

Tata Sons chairman N Chandrasekaran confirmed Tata’s death and described him in a statement as his “friend, mentor, and guide.”

He did not provide a cause of death.

Tata was admitted this week to the Breach Candy Hospital in south Mumbai, the city where he lived.

Soon after he was hospitalised, Tata issued a statement on Monday saying there was no cause for concern regarding his health and he was undergoing checkups for age-related medical conditions.

Indian Prime Minister Narendra Modi described Tata as a visionary leader, and a compassionate and extraordinary human being.

"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," Modi said on X.

"Tata endeared himself to people, thanks to his humility, kindness and an unwavering commitment to making our society better,” Modi said, referring to his philanthropy.

Google CEO Sundar Pichai said Ratan Tata left behind an extraordinary business and philanthropic legacy and he was instrumental in mentoring and developing modern business leadership in India.

"My last meeting with Ratan Tata at Google, we talked about the progress of Waymo and his vision was inspiring to hear,” Pichai said on X. "He deeply cared about making India better.”

Mukesh Ambani, chairman and managing director of Reliance Industries, said, “It is a very sad day for India and India Inc," he said.

"Ratan Tata’s passing away is a big loss, not just to the Tata Group, but to every Indian.”

Tata received the Padma Bhushan, one of India’s most distinguished civilian awards, in 2000 and "Padma Vibhushan" in 2008.

Tata Group is a sprawling collection of nearly 100 companies, including the country’s largest automaker, the largest private steel company and a leading outsourcing firm.

The companies employ more than 350,000 people worldwide.

In June 2008, Tata bought Jaguar and Land Rover from Ford for US$2.3 billion.

Tata pioneered commercial aviation in India when it launched an airline in 1932 that later became Air India. The government later took it over.

Tata Group bought state-owned Air India in 2021. It also started a full-service carrier, Vistara, with Singapore Airlines, but recently merged it with Air India.

Tata companies include Tata Steel, Tata Motors, Tata Power and the information technology company Tata Consultancy Services. (AP)