BT MindRush 2023: Tata Group expected to grow 20% YoY, don't see a slowdown, says N Chandrasekaran
Speaking at the BT MindRush 2023, Chandrasekaran said that looking at the diverse sectors, from steel, automobiles to consumers that Tata Group is invested in, demand factor is very strong.
- Apr 26, 2023,
- Updated Apr 26, 2023 8:31 PM IST
Tata Sons chairman N Chandrasekaran on Wednesday said that the group is looking to clock a record growth of more than 20 per cent in 2022-23 year-on-year. Speaking at the BT MindRush 2023, Chandrasekaran said that looking at the diverse sectors, from steel, automobiles to consumers that Tata Group is invested in, the demand factor is very strong.
“We just consolidated the numbers for the last fiscal, I would say the Group on our base will grow more than 20 per cent year-on-year. And if we take out international revenues, like TCS, Land Rover, Jaguar, in the domestic market the growth is in your hand. We don’t see a slowdown in consumer businesses. In fact, we see demand in tier-2, tier-3 cities higher than tier-1 cities,” Chandrasekaran told Business Today Editor Sourav Majumdar at the session, "Reinventing Tata: Redirecting the Colossus. Connecting with the Consumer. Successes and Failures".
Talking about venturing into new segments, Chandrasekaran said that Tata Group will be investing in Air India, online consumer channel, semiconductors, among others. Earlier it was reported that the Tata Group will be pumping in $90 billion, which is about Rs 7.42 lakh crore, in the next five years across its existing and new businesses.
“Air India is one of the sectors, which is a big bet. We are scaling up fairly quickly. We also investing in online consumer app, Tata Neu SuperApp. Besides, we are also looking into precision electronics and manufacturing,” said Chandrasekaran.
He added: "We are scaling up, opting for omnichannel marketing and adopting precision manufacturing, we will move towards assembly, packaging and designing."
Also read: BT Mindrush: India's growth story is robust, don't see headwinds, says Ajay Piramal
Also read: BT Mindrush 2023: No slowdown in home loan demands, says SBI's Dinesh Kumar Khara
Tata Sons chairman N Chandrasekaran on Wednesday said that the group is looking to clock a record growth of more than 20 per cent in 2022-23 year-on-year. Speaking at the BT MindRush 2023, Chandrasekaran said that looking at the diverse sectors, from steel, automobiles to consumers that Tata Group is invested in, the demand factor is very strong.
“We just consolidated the numbers for the last fiscal, I would say the Group on our base will grow more than 20 per cent year-on-year. And if we take out international revenues, like TCS, Land Rover, Jaguar, in the domestic market the growth is in your hand. We don’t see a slowdown in consumer businesses. In fact, we see demand in tier-2, tier-3 cities higher than tier-1 cities,” Chandrasekaran told Business Today Editor Sourav Majumdar at the session, "Reinventing Tata: Redirecting the Colossus. Connecting with the Consumer. Successes and Failures".
Talking about venturing into new segments, Chandrasekaran said that Tata Group will be investing in Air India, online consumer channel, semiconductors, among others. Earlier it was reported that the Tata Group will be pumping in $90 billion, which is about Rs 7.42 lakh crore, in the next five years across its existing and new businesses.
“Air India is one of the sectors, which is a big bet. We are scaling up fairly quickly. We also investing in online consumer app, Tata Neu SuperApp. Besides, we are also looking into precision electronics and manufacturing,” said Chandrasekaran.
He added: "We are scaling up, opting for omnichannel marketing and adopting precision manufacturing, we will move towards assembly, packaging and designing."
Also read: BT Mindrush: India's growth story is robust, don't see headwinds, says Ajay Piramal
Also read: BT Mindrush 2023: No slowdown in home loan demands, says SBI's Dinesh Kumar Khara