Tata Sons will continue to invest, will not be bogged down by economic slowdown: Chairman N Chandrasekaran

Chandrasekaran said that the auto industry globally is facing a number of headwinds it needs to tackle these external challenges

FP Staff August 26, 2019 14:18:07 IST
Tata Sons will continue to invest, will not be bogged down by economic slowdown: Chairman N Chandrasekaran
  • Chandrasekaran had said Tata Sons has strong cash flows to service its own debt which is not significant

  • Salt-to-software conglomerate Tata Sons recently announced a new entity to incubate new-age digital business called Tata Digital

  • The $110-billion group appointed Pratik Pal, a veteran of the group's software arm TCS, as the chief executive of the new venture

Chairman of Tata Sons Natarajan Chandrasekaran has said that the company will not be bogged down by slowdown and will continue to invest wherever it feels there is a need to do so, a media report said.

Chandrasekaran, in an interview with Financial Express, said that the auto industry globally is facing a number of headwinds and it needs to tackle these external challenges by focusing on what can be done.

Commenting on the economic slowdown he said, "We need to take the slowdown in our stride, we cannot afford to be bogged down by it. We are guided by the long-term opportunity, whether at home or overseas, and must work towards that."

Tata Sons will continue to invest will not be bogged down by economic slowdown Chairman N Chandrasekaran

A file photo o N Chandrasekharan, Chairman,Tata Sons. Reuters

Last week, Chandrasekaran, in an interview with The Economic Times, said Tata Sons has strong cash flows to service its own debt which is not significant. "It has net debt of about Rs 27,000 crore and our cash flows are much larger. Now, our goal is to only fund growth," Chandrasekaran was quoted as saying by the newspaper.

Salt-to-software conglomerate Tata Sons recently announced a new entity to incubate new-age digital business called Tata Digital.

The $110-billion group appointed Pratik Pal, a veteran of the group's software arm TCS, as the chief executive of the new venture. The new entity is "formed to incubate new digital businesses", Tata Sons said.

A recent media report based on the interview of group chairman N Chandrasekaran had said Tata Sons would infuse Rs 1,000 crore in the new vertical.

"The company will create a number of digital platforms. We have already identified the platforms we want to create. The first platform is already being built and the next two to three platforms are in the process of being developed," Chandrasekaran had said.

With PTI inputs

 

Updated Date:

Find latest and upcoming tech gadgets online on Tech2 Gadgets. Get technology news, gadgets reviews & ratings. Popular gadgets including laptop, tablet and mobile specifications, features, prices, comparison.

also read

Donald Trump claims Kim Jong-un displayed executed uncle's 'headless body' to North Korean officials
World

Donald Trump claims Kim Jong-un displayed executed uncle's 'headless body' to North Korean officials

Jang Song Thaek, the North Korean leader's uncle by marriage and a hugely powerful figure within the regime, was executed for treason and corruption in 2013

AMU to conduct entrance exams for admission to UG courses from 23 Oct to 10 Nov
India

AMU to conduct entrance exams for admission to UG courses from 23 Oct to 10 Nov

The university said that the number of test centres will be increased so that students can maintain social distancing, and that wearing masks will be mandatory

10 dead, 12 missing as boat capsizes on Gumai river in Bangladesh's Netrokona district
World

10 dead, 12 missing as boat capsizes on Gumai river in Bangladesh's Netrokona district

A team of divers are screening the river, but strong currents are hindering rescue operations, officials said