Under his stewardship, Tata acquired UK brands including Tetley and Jaguar Land Rover, Insider Media reported.
Business secretary Jonathan Reynolds said Ratan Tata had "played a huge role in shaping British industry".
Natarajan Chandrasekaran, chairman of Tata Sons, said: "For the Tata Group, Mr. Tata was more than a chairperson. To me, he was a mentor, guide and friend. He inspired by example. With an unwavering commitment to excellence, integrity, and innovation. The Tata Group under his stewardship expanded its global footprint while always remaining true to its moral compass.
Mr. Tata's dedication to philanthropy and the development of society has touched the lives of millions. From education to healthcare, his initiatives have left a deep-rooted mark that will benefit generations to come. Reinforcing all of this work was Mr. Tata's genuine humility in every individual interaction.
"On behalf of the entire Tata family, I extend our deepest condolences to his loved ones. His legacy will continue to inspire us as we strive to uphold the principles he so passionately championed."
JLR chief executive Adrian Mardel said the "entire JLR family is profoundly saddened by the death of Mr. Ratan Tata".
He added: "His personal achievements and legacy are unequalled in society, and the mark he leaves on our business and brands is greater than that of any other individual.
"It was thanks to his singular vision that Tata acquired JLR in 2008, and we owe everything we have become since then to his unwavering support and dedication.
"Mr. Tata led us on an extraordinary journey. He inspired incredible new chapters in our history. Under his generous and trusting guidance, we have felt deeply proud to be part of the Tata story."
Indian prime minister Narendra Modi paid tribute to Tata on X.
"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 Modi.
Business secretary Jonathan Reynolds said: "Sad to hear about the passing of Ratan Tata. He was truly a titan of the business world and someone who played a huge role in shaping British industry.
"My thoughts and prayers are with his friends, family and everyone in the Tata Group."
