But the road to success has never been smooth. Appearing for the first time in this edition is the story of how the Tatas, with Ratan Tata at the helm, have had to grapple with change in the post-1992 era of economic reforms. In a frank epilogue, Ratan Tata talks about the difficulties he faced in implementing change, including resistance from his colleagues. Today, Tata Steel is the lowest priced steel producer in the world; Tata Consultancy Services (TCS) is the largest software-consulting firm in Asia; and Telco’s Indica is well on its way to becoming the Indian family car.

The Creation of Wealth is RM Lala’s best-selling account of how the Tatas have been at the forefront in the making of the Indian nation – not just by their phenomenal achievements as industrialists and entrepreneurs but also by their contributions in areas like factory reforms, labour and social welfare, medical research, higher education, culture and arts, and rural development.