In his second term, Tata Sons Chairman N Chandrasekaran will bring ‘sustainability’ and ‘speed’ as the defining themes for the activities of the Salt-to-Software consortium. Chandra, as he is well known in the industry, defined his first term for the group with ‘simplification’, ‘synergy’ and ‘scale’ as themes.
“These three (simplification, adjustment and scale) are deeply embedded in all our companies. We’ve simplified our structure, our simplification efforts are at multiple levels, at the portfolio level and at the operating company level. Our businesses have moved out of the non-core areas and the number of markets or marginal areas where we have been working has dwindled, “he said.
“We could not have started our electric car unless or otherwise we did not bring all our companies together. Thus, coordination has become an important issue. We have consolidated our consumer food company and all our defense efforts into a single company. So, whether it’s simplification or adjustment, it’s across the group. “
The scale is also important, wherever the group focuses on growth, he said, adding that this was evident in industries like Tata Steel where Indian power has almost doubled to about 20 MTPA. The number of group retail stores has tripled. “We will continue to simplify, adjust and scale, but also add stability and speed,” he added.
In April, Tata Sons shareholders approved the reappointment of N Chandrasekharan, chairman of the holding company and Tata Group of Companies, as chairman for another five-year term. In February of this year, the Tata Sons Board approved his second term as Executive Chairman for another five years until February 2027.
“At the Tata Group, we are going through a huge transformation to be future-ready, a transformation where we are firmly integrating digital data, AI and sustainability into the core of the business, creating strategies and, most importantly, business. The model herself, ”said Chandra.
According to Chandrasekaran, digital adoption, supply chain rebalancing, sustainability, healthcare and the global talent pool are mega trends that will influence and shape the future of the economy and business going forward.
Talking about digital adoption, he said that while it is at the top of the five mega trends, the internet penetrates more into everyone’s daily life.
“This development is a huge opportunity for India. We can imagine that every industry, every business could be a data business and a business that would help us fix the structural problems we have seen in this country forever. This is not only to prepare for the domestic industry, but also to play a big role in every industry globally, ”he said.
He felt that resilience would allow India to take the lead in the world of business instead of balancing the supply chain and efficiency. At present, India is growing faster than most countries and inflation is much lower than in developed countries.
On sustainability, the Tata Sons chief said the pressure to mitigate the effects of climate change would increase and businesses would have a lot of support to accelerate the transition to electric vehicles, green hydrogen, storage batteries and water efficiency.
The fourth is the focus on health and wellness, and then with the shift to technology and robotics, the challenge will be to attract talent from the global pool. “Skills will be far more important than broad formal education. We should focus on technology for job creation rather than losing jobs, ”he added.