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Tata Sons has committed over ₹70,000 crore to restructure group companies in a bid to make them ready for future growth.
In a New Year message to employees, Tata Sons Chairman N Chandrasekaran said that there are major headwinds in the global economy but there is ample evidence that the group is moving ahead under the ‘One Tata’ strategy.
“We are embarking on a process of simplifying, synergising and scaling(3S) to create an agile, powerful platform. Across the group, we made significant headway this year in strengthening balance sheets and building healthy cash flows. In total, we committed over ₹70,000 crore to de-leverage and restructure Tata companies, consolidate cross-holdings, acquire strategic assets and infuse much-needed capital for future growth,” Chandrasekaran said.
Macro challenges
He said 2019 will bring a number of macro challenges. “As the economic cycle matures in developed economies, global growth will rely increasingly on momentum in the emerging markets. This heightens concerns around country risk, liquidity trends and trade-related shocks at a time when China’s growth impulse is slowing. Global liquidity is tighter going into 2019,while political uncertainty remains high with the upcoming elections in India.”
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