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India Will Continue As Fastest-growing Major Economy: N Chandrasekaran
The Chairman confidently states that Tata group will achieve more in the near future not only in terms of its business and shareholdings but would also contribute towards the nation and communities
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Supported by increasing consumption, consumer confidence and investment India will continue to grow as the fastest-growing major economy, side-lining the slow global growth, said N Chandrasekaran, Chairman, Tata Sons in his year-end letter.
Chandrasekaran stated, "2022 the 75th year of Independence brought a strong business for many of the Tata Group companies right after the dreadful pandemic."
Chandrasekaran added that the global environment will be bombarded with several risk factors, Europe’s energy crisis, the inflation battle avoiding recession and ongoing geopolitical conflicts. Excluding the pandemic and global financial crisis, the new year will mark the lowest global growth and suggested careful monitoring of commodity price rises.
He in his letter highlighted Tata’s significant achievements, Air India’s addition to the Tata group, the launch of Tata Neu, a digital business app and one of the major sales of Tata Motors, 500,000 cars including Tata EV cars business of 10 per cent.
The chairman credited the company’s working talent for the great improvement and strong business achieved. He further stated that success is a relentless drive. They are continuously progressing raising the bar of the set segments, performance, customer experience, quality, sustainability or innovation.
Chandrasekaran further emphasised India’s well-placed position and Tata Groups’ humungous opportunities towards AI/ML, sustainability and diversified supply chains in the middle of global transitions.
He also encompassed the three interconnected pillars of the multinational conglomerate all set for its 2023 ride, reduction in emissions to reach net zero by 2045, introduction to circular economies through sharing, reusing/recycling and restoring nature and biodiversity.
The Chairman confidently stated Tata group will achieve more in the near future not only in terms of its business and shareholdings but would also contribute towards the nation and communities.