Noel Tata was appointed on Friday as chairman of Indian conglomerate Tata group's philanthropic arm Tata Trusts, the CNBC TV18 channel reported, succeeding his half brother Ratan who died this week aged 86.

Noel Tata, late Indian tycoon Ratan Tata's half-brother, was appointed last week to succeed him as chairman of Tata Trusts, a collective of philanthropic institutions that wield indirect control over the $165 billion Tata Group.

Noel's appointment is of significance as Tata Trusts owns 66% of Tata Sons, the holding company of various firms under the Tata brand