Simone Tata, the mother of Tata Trusts chairman Noel Tata, died in a Mumbai hospital on Friday after a brief illness.
Simone, the stepmother of the late Ratan Tata, was 95.
Simone Tata was associated both with business ventures and philanthropic activities, a statement said.
"She will always be remembered for her contribution to the growth of Lakme, as India's leading cosmetic brand and laying the foundation for fashion retail with the Westside chain," the statement added.
The Switzerland-born Simone also guided the work of many philanthropic organisations, including the Sir Ratan Tata Institute, it said.
A positive outlook and a deep resolve helped Simone overcome many challenges in her life, it said.
Last respects to Simone can be paid on Saturday morning at the Cathedral of the Holy Name Church in Colaba, followed by a mass at 11 am, the statement said.
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