No other market is going to grow faster than India in the next 10-20 years and Tata companies should use the opportunity to make investments and take part in and contribute to India’s growth story, according to the group’s chief N Chandrasekaran.
At the same time, “some level of consolidation is essential” for the salt-to-software conglomerate, which saw 64.1 per cent of its total revenues in 2016-17 from global operations in over 100 countries, he observed.
“No other market, I believe, is going to grow faster than India in the next 10-20 years. Considering our demographic profile, we will have a consumer population that is going to have higher spending power,” Chandrasekaran said in an interview to the group’s in-house magazine Tata Review.
Stressing that India is “a massive market, the biggest game in town”, he said, “The opportunity for many of our businesses in India is fantastic. They should use this opportunity to make investments and participate in and contribute to India’s growth story.”
He, however, said different firms of the Tata group need to understand their individual domestic prospects, because all of them may not have the same growth opportunities. Each will need to craft its own strategy and this will have to be company specific,” Chandrasekaran added.
