Prime Minister Narendra Modi on Sunday condoled the death of former Tata Sons chairman Cyrus Mistry and remembered him as a promising business leader who believed in India's economic prowess.

"The untimely demise of Cyrus Mistry is shocking. He was a promising business leader who believed in India's economic prowess. His passing away is a big loss to the world of commerce and industry. Condolences to his family and friends. May his soul rest in peace," the Prime Minister said in a Twitter post.