In his year-end message, Tata Group Chairman N Chandrasekaran offered a powerful reflection on the events of 2024, paying tribute to the late Ratan Tata and outlining the group's ambitious vision for 2025.
Acknowledging geopolitical upheavals in 2024, including conflicts in Ukraine, Gaza and Sudan, Chandrasekaran highlighted the global shift from supply chain efficiency to resilience. He highlighted how these changes position India for growth, considering its talent pool and manufacturing capacity.
Chandrasekaran paid a heartfelt tribute to Ratan Tata, who left an indelible mark on the group and India Inc. earlier this year. “Our group has lost an irreplaceable exemplary leader. I have lost a dear mentor and friend,” he wrote. Reflecting on the tributes from around the world, he noted, “There is no space in this article to fully capture what he meant to us.”
The Tata Group chairman revealed plans to create 500,000 new jobs in manufacturing over the next five years. These positions span key sectors such as semiconductors, electric vehicles, solar equipment and other critical hardware industries. “These will be part of the aforementioned investments in facilities across India – factories and projects that produce batteries, semiconductors, electric vehicles, solar equipment and other critical hardware set to play a central role in tomorrow's economy,” he shared.
Besides manufacturing, the group expects significant job creation in retail, technology services, aviation and hospitality. Chandrasekaran highlighted recent progress in high-tech industries, including the opening of India's first semiconductor fab in Gujarat, a new battery cell manufacturing plant in the UK and other facilities. “The big strategic bets made with his encouragement are paying off, especially in high-tech industries and manufacturing that are expanding across our footprint,” he noted.
Reflecting on the transformative power of technology, Chandrasekaran focused on the growing role of artificial intelligence in healthcare and mobility. “A fundamental reversal is taking place,” he declared, explaining how advances in technology are now making scientific discoveries, revolutionizing industries and improving human well-being.
Looking ahead to 2025, Chandrasekaran expressed optimism for India's economic growth driven by the expansion of manufacturing and the digital revolution. “India's economy is strong, the great trends of the times are in our favour,” he concluded the letter on a hopeful note.