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."
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: Aug 26, 2019 14:18:07 IST