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UP's role to be critical in making India $5-trillion economy: Tata Sons Chairman Chandrasekaran

"I think UP, needless to say is inarguably the most important state in the country, and UP's success is very critical to realise the dream of the nation to become USD 5-trillion economy".

twitter-logo PTI   Lucknow     Last Updated: July 29, 2019  | 07:55 IST
UP's role to be critical in making India $5-trillion economy: Tata Sons Chairman Chandrasekaran
File photo of Tata Sons Chairman N Chandrasekara

Tata Sons Chairman N Chandrasekaran on Sunday said there are immense business opportunities in Uttar Pradesh and the state will play a critical role in making India a USD 5-trillion economy.

He said the Tata Group sees a huge potential in sectors such as renewable energy, tourism, airlines and electric mobility, among others.

Speaking on the occasion of the second ground breaking ceremony here, Chandrasekaran said, "I think UP, needless to say is inarguably the most important state in the country, and UP's success is very critical to realise the dream of the nation to become USD 5-trillion economy".

"The Tata Group has a long standing presence in the state, and many of our companies have significant investment here. Tata Motors has a plant here, TCS has been present in the state, and all our retail companies have large presence and are significantly growing."

He further said that the state offers significant opportunities for expansion and the Tata Group sees immense potential, whether it is the renewable space, tourism, airlines or electric mobility.

"We see all of this as a big opportunity. I am also happy to say that TCS will continue to expand in the state," he said.

Chandrasekaran said, "I remember that Chief Minister Yogi Adityanath got very worked up, when there was a news item that TCS is exiting Lucknow, and we made a commitment to him saying that we will not leave the state, or leave the city of Lucknow and that we are already present in the state with 10,000 people. Then he asked us to put up another facility."

On further plans, he said, "...now we are about to sign the final agreement for setting up of another centre in the state. But, we will also be looking at expanding into other parts of the state in cities like Prayag, and continue to evaluate such opportunities."

Speaking on this occasion, HC Hong, president and CEO at Samsung India, said, "The company had set up its first plant in Noida in 1996. Over these years, we have become a big partner for Uttar Pradesh. Last year, we launched world's largest mobile factory in Noida. We want to make the Noida factory an export hub."

FICCI President Sandeep Somany also spoke on this occasion.

Also read: PepsiCo committed to India's $5 trillion economy vision; scale up agri-based food business, says CEO

Also read: Why India's $5 trillion economy is a no-brainer; we should aim higher instead

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