Ratanji Dadabhoy Tata (R.D.) was born in 1856 in Navsari where he had his early training and education. He received higher education at the Elphinstone College and then studied agriculture at Madras. He was always known among his friends as ‘R.D.’ in order to distinguish himself from Jamsetji’s second son, Ratan Tata.

On completing his education, R.D. began his business career in his father's firm Tata and Company. When he joined the firm, its business was already declining. He was sent to Hong Kong and was later appointed its manager.

After his father's death in 1876 he continued to work in the firm and in 1883, he was obliged to take entire charge of the affairs of the company that were in a very bad condition. It was at this period that he first displayed great ability for finance by putting to an end the vicissitudes of the firm. Jamsetji Tata was very impressed by R.D.’s abilities, and in 1884 he took this young cousin of his into his firm, the Empress Mills, and later, in 1887, made him a partner in the newly formed Tata & Sons.  

R.D. Tata was associated with Sir Bezonji Dadabhai Mehta at the Empress Mills who as its manager was looking after the technical side and management while R.D. took care of the financial side. During this period, he was entrusted the task of opening a ginning factory at Yeotmal along with his cousin Dorabji Tata. R.D. was then given charge of the finances of Svadeshi Mill, which was doing badly. He successfully steered it clear along with Dorabji under the guidance of Jamsetji.

The business of Tata and Company, founded by Nusserwanji, was distinct from Tata & Sons, and Jamsetji had little to do with the firm. He left the control of the eastern branch to his cousin. R.D. Tata moved to Hong Kong for some years where he built branches at Shangai and Kobe dealing in rice and silk. The business grew so well under his masterly control that at length he was justified in opening a branch at New York and later on another at Paris trading chiefly in pearls and silk. It was here in Paris that he fell in love with Suzanne Briere and married her in 1902.

After Jamsetji’s death, the name of the firm was changed from Tata & Sons to Tata Sons and Company in 1907 with the surviving partners – Sir Dorab, Sir Ratan, and R.D. Tata.  Another Tata venture namely Tata & Company that had been operating in Hong Kong was also merged with Tata Sons & Company.

R.D. Tata continued to look after the trading and financial side of the company by devoting more time at the Head Office in Bombay, playing an important role in realising Jamsetji’s dream projects, the Iron and Steel Company, Hydro-Electric Company and the Indian Institute of Science.

After the demise of Sir Ratan Tata, he took charge of the important departments of the firm especially when the firm was passing through its most difficult period during the war. His greatness in steering the House of Tatas during the last five years through its most critical financial phases of the world’s post war re-adjustment placed him in the forefront of the great industrialists of the day. His mature experience and masterly guidance saw them through these troubled years.

In spite of the grave financial struggles he was waging he never lost sight of the welfare measures and humaneness. Abiding by these principals in times of crisis speaks volumes about his personality.

R.D. Tata was for sometime a member of the Imperial Legislative Council and later it was through his untiring energy and perseverance that he was able to secure the protection granted to the Iron and Steel Industry. His association with Japan since he visited it in 1890 helped in the development of the Indo-Japanese trade relations. Just before his death the Emperor of Japan conferred on him the high distinction of the Third Order of the Rising Sun, a title somewhat similar to K.C.I.E. or C.I.E. in India.