Eighteen months after taking charge as Chairman of the Tata Group, Cyrus Mistry on Tuesday spelt out a broad strategy for the conglomerate. This includes special focus on four new clusters — Defence & Aerospace, Retail, Infrastructure and Finance.

Mistry, in an internal meeting with his various business heads, said the clusters are aimed at maximising synergies. Talking about the Group’s Vision 2025, he said that over the next three years, the Tatas will invest about $35 billion across various businesses. He outlined a strategy to nurture group companies by leveraging the parent group centre, harnessing synergies, and optimising the portfolio for sustained future performance.

When contacted, a Tata Group spokesperson said details of the internal event cannot be shared. But the spokesperson confirmed that Mistry said, “To outperform markets, each Tata company will sharply focus on performance, strive for excellence for global competitiveness, seek to achieve global or national scale, and foster fledgling businesses with a sound evaluation of their growth potential.”

In a bid to foster competition among group companies, he is reported to have said: “As a part of this strategy, the group centre will strongly champion companies which are world-class and, where necessary, facilitate creation of new companies. This holistic strategy will also include support to companies, if required, to restructure their businesses which do not have the potential to meet performance and strategic criteria in the long term or benefit from parenting advantages.”

The Group has put forth a mission statement, “To improve the quality of life of the communities we serve globally through long-term stakeholder value creation based on leadership with trust.”

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