 "Tata’s Chairman N Chandrasekaran reveals a bold transformation towards green energy and AI, amidst job cuts and industry challenges.")
N Chandrasekaran, the Chairman of Tata Group, revealed in a recent Financial Times interview that the company is undergoing significant changes to embrace new-age sectors like semiconductors, electronics, and renewable energy. He emphasized that these transitions, although challenging, are essential for preparing the group for the future. Tata Group is enhancing its online offerings and integrating artificial intelligence into its operations. Notably, Tata Steel plans to invest £750 million in its Port Talbot facility to shift from coal-based furnaces to electric arc technology, despite previous losses of £4-5 billion since acquiring Corus Group. Additionally, Chandrasekaran shared insights on Air India’s ongoing recovery and future competitiveness in the airline industry.
Tata Group Adapts to New Age Industries, Says Chairman N Chandrasekaran
The Tata Group is on a transformative journey, as expressed by its chairman, N Chandrasekaran, in a recent interview with the Financial Times. He highlighted the company’s shift towards innovative sectors such as semiconductors, electronics manufacturing, and renewable energy. “We are trying to get the group prepared for the future,” he remarked, acknowledging that while these changes can be tough, they are necessary for the company’s growth and sustainability.
As part of this transition, the $365 billion conglomerate is increasingly offering online services and integrating artificial intelligence into its internal operations. Chandrasekaran pointed to the challenging decision by Tata Steel to close blast furnaces at the Port Talbot steelworks, which resulted in the loss of 2,500 jobs in the UK. He mentioned that the company would invest £750 million in the Port Talbot facility alongside £500 million in British taxpayer funds to establish a more environmentally friendly electric arc furnace, replacing outdated coal-based technology.
Despite facing a loss of £4-5 billion from the steelworks since acquiring Corus Group in 2007, Tata remains committed to producing greener products. Turning to Air India, Chandrasekaran noted that supply chain challenges have affected aircraft deliveries. However, he is optimistic that the airline will become more competitive domestically within a year and internationally by 2026, following the arrival of new Airbus and Boeing aircraft.
As the Tata Group embraces these changes, it seeks to secure its position in the evolving Market landscape, ensuring long-term success and sustainability.
Tags: Tata Group, N Chandrasekaran, semiconductors, renewable energy, Tata Steel, Air India, financial news, business transformations
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What is Tata Group preparing for?
Tata Group is looking to the future by focusing on new technologies and sustainable practices. They want to grow their businesses and meet changing customer needs. -
Who is the chairman of Tata Group?
The chairman of Tata Group is N Chandrasekaran. He leads the company in its efforts to innovate and expand. -
Why is sustainability important to Tata Group?
Sustainability is important because it helps protect the environment and ensures that the company can provide for future generations. Tata Group wants to be a responsible corporate citizen. -
How will Tata Group adapt to future challenges?
Tata Group plans to invest in research and development, embrace digital technologies, and create new products to stay ahead of challenges in the Market. - What industries does Tata Group focus on for the future?
Tata Group is involved in various industries like technology, automotive, steel, and consumer goods. They aim to grow in sectors that have the potential for future development.
