Tata's body will be kept at the National Centre for the Performing Arts (NCPA) in Mumbai before the state funeral on Thursday evening. A key road leading to the venue has been cordoned off. People will be able to pay their respects here from 10:00 to 15:30 India time (04:30-10:00GMT), senior Mumbai police official Abhinav Deshmukh told the media.

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.

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

"To my friend, Prime Minister Narendra Modi. I and many in Israel mourn the loss of Ratan Naval Tata, a proud son of India and a champion of the friendship between our two countries. Please convey my condolences to Ratan's family. In sympathy, Benjamin Netanyahu," he said.

Israeli Prime Minister Benjamin Netanyahu hailed industrialist Ratan Tata as a champion for the friendship between India and Israel.

With the country’s economy on the cusp of historic change, the figure who did the most to lead Indian business onto the global stage is gone.

Ratan Tata passed away at the age of 86 on October 9. The legendary industrialist was hospitalised for age related issues. The icon not only left behind a legacy in the business sector, but also memories for his fans and followers across industries.

Tata has invested in over 50 startups, both in India and abroad, including prominent companies such as Ola, Upstox, Lenskart, CarDekho, FirstCry, Paytm, and Bluestone, many of which have gone public.