Cyrus Mistry, the new Chairman of the Tata empire, reiterated the group’s commitment to India with an additional investment of Rs 45,000 crore over the next two years. The salt-to-steel-tosoftware giant would also continue to expand abroad.

“Our commitment to India is intact,” Mistry, who took over the reins of the group on Monday said in his first-ever letter to employees on Tuesday.

The group's revenues have crossed $100 billion, he said.

Headcount

The group has invested more than Rs 50,000 crore over the past three years in various businesses in the country and is in the process of creating primary employment for more than 85,000 persons, apart from generating many more secondary and tertiary jobs, he said.

Emerging markets

Stating that the core of the group “must and will remain unchanged”, Mistry said the group would have an emphasis on emerging markets in Asia, Africa and parts of Latin America. Seeking the employees support, Mistry said the group needs to be relentless in its pursuit to improve competitiveness and focus on customers, innovation and profitable growth.

rajesh.kurup@thehindu.co.in

(This article was published on January 2, 2013)
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