Chandra has a new strategy for Tatas

The Tata group has decided to focus more on technology going forward with heavy reliance on the two-pronged digital thrust of transforming existing business for an AI and data-led future and creating the ‘Tata Digital’ platform to incubate and scale new digital platforms.Natarajan Chandrasekaran, chairman of Tata Sons has said that the group is on-course and executing ‘One Tata’ strategy around the pillars of simplification, synergy and scale (3S).“Within our ten business clusters, individual companies have made notable progress across this three-dimension,” said Tata Sons chairman, also referred to as Chandra in his annual letter on the eve of the year-end to the group.“In summary, our group-level performance is steadily improving, but there is more work to do in some companies — in part due to the economic environment these companies are facing. Overall, we are moving together decisively towards a position of financial fitness and operational efficiency, poised to capture future growth opportunities.”In a one-page letter, the Tata Sons chairman, giving outlook about future the strategy said that this is precisely the time for a relentless focus on execution to realise the future bets we have been pursuing over the past few years — whether it is our two-pronged digital thrust: transforming our existing business for an AI and data-led future and creating the ‘Tata Digital’ platform to incubate and scale new digital platforms; or developing an electric vehicle ecosystem.Counting landmark achievements for the group, Chandra has also said in a letter that during the time, Bhushan Steel acquisition is well underway within Tata Steel, the consolidation of TGBL and Tata Chemicals’ consumer business is near completion and also during the year, Vistara has started its international operation.The letter comes at the time when the National Company Law Appellate Tribunal had restored ousted chairman Cyrus Mistry as the chief of the group holding company and ruled Chandrasekaran’s appointment illegal, however, Mistry’s reinstatement will be operational after four weeks.

from Economic Times https://ift.tt/2MInqcx