BUSINESS
He acknowledged that the steps might be difficult but were necessary for the company
TRENDING NOW
The Tata group is undergoing several changes as it shifts focus to new-age businesses like semiconductors, electronics manufacturing, and renewable energy, according to Chairman N Chandrasekaran in an interview with the Financial Times (FT).
"We are preparing the group for the future," Chandrasekaran told FT. He acknowledged that the transitions, while difficult, are necessary.
As part of this shift, the $165 billion group is increasing its online offerings and integrating artificial intelligence into its internal processes.
One of the major changes is at Tata Steel, which will close its blast furnaces at the Port Talbot steelworks and cut 2,500 jobs in the UK. The company plans to invest £750 million (around Rs 8,250 crore) in the facility, with an additional £500 million (around Rs 5,502 crore) coming from the UK government to build a new electric arc furnace to replace the old coal-based ones. Despite heavy losses of £4-5 billion (around Rs 44,000-55,000 crore) since acquiring Corus Group in 2007, Tata remains focused on greener products.
Regarding Air India, Chandrasekaran said supply chain issues had delayed aircraft deliveries, but the airline's losses have reduced as of March 31, 2024. He expects the airline to become more competitive domestically within a year and internationally by 2026, once new Airbus A350s and Boeing 787s are delivered.
'Usko dekh...': Rishabh Pant during war of words with Liton Das during Ind vs Ban test
This is world's costliest rice, price of 1 kg will leave you shocked, it is grown in...
Could your phone be the next bomb? The scary truth about remote explosions
Watch video: Rohit Sharma's reaction after Virat Kohli's dismissal in Ind vs Ban test match
Bihar: 15 people held for torching 21 houses in Nawada, government says more arrests likely
Atishi, along with new cabinet, to take oath as Delhi CM on..., know details here
Ed raids ex-IAS, Noida Authority CEO's house, Rs 1 crore cash, Rs 19 crore jewellery recovered
Hezbollah walkie-talkie blast kills 20 in Lebanon; Israel declares 'start of new phase in war'
NASA Alert: Giant asteroid Apophis, as big as a skyscraper, will approach Earth on...
Himesh Reshammiya's father, music director Vipin Reshammiya, passes away at 87
This is now India's biggest alcohol firm, has surpassed Johnnie Walker maker Diageo by Rs...
Big win for ISRO: Centre approves Chandrayaan-4, Venus mission and a space station; allocates Rs...
Mpox in India: First Mpox case confirmed in Kerala, patient recently travelled from...
'Joke ban chuka hai': Rohit Sharma's sly dig at players who reverse retirement decisions
Flipkart founder Sachin Bansal’s company overtakes Amazon to become India’s…
Meet youngest CEO of India, who created first app at 9, began his own company at 13, now he is…
This train gave Rs 628800000 loss to Indian Railway, everyday 200-250 seats left vacant due to…
Not Rishab Shetty, this superstar was first choice for blockbuster Kantara; he left film because...
DNA TV Show: Record voting in first phase of J-K Assembly Elections, what does it indicate?
Salman Khan house firing case: Accused claims doctor in prison demanded Rs 10000 for...
Meet IPS Anurag Garg, IIT alumnus and new NCB Director General
Atishi to be Delhi's new CM: LG proposes AAP leader’s swearing-in ceremony on this date
Air pollution: GRAP period starts early in Delhi-NCR, buses not allowed to enter capital if…
Deepinder Goyal's Zomato gets fresh Rs 177000000 crore notice due to...
What happens if India do not travel to Pakistan for 2025 Champions Trophy? ICC plans to...
IPL 2025: BCCI likely to hold mega auction during these months
EY India finally breaks silence over 26-year-old employee's death due to 'work stress'
Priyanka Chopra thanks Anushka Sharma for this special gift, shares photo on Instagram
Meet the mystery owner of Rs 11.53 lakh crore business, nobody knows about....
SL vs NZ: Kamindu Mendis equals world record in Tests, becomes 2nd batter to...
India’s richest and poorest states: Top GDP contributors, highest income earners revealed
UP man appeals to President, PM Modi to save daughter facing death sentence in UAE
Ex-BCCI President Sourav Ganguly files complaint against YouTuber for this reason
Men in this Indian village have two wives, living under one roof due to…
J-K Assembly Election 2024: 59% voter turnout recorded in Phase 1
Mpox Scare: Man tests positive in Kerala after returning from...
IND vs BAN, 1st Test Dream11 prediction: Fantasy cricket tips for India vs Bangladesh match
Deepika Padukone buys 1845 sq ft apartment near her mother-in-law's house in Mumbai, it worth Rs...
US Coast Guard reveals Titan submersible's last message, haunting video before deadly implosion
Mukesh Ambani buys India’s first Boeing 737 MAX 9, it’s priced over Rs…
Breaking Your FD Early: Penalties and Alternatives
Ratan Tata's Rs 1573000 crore company inks pact with global fast-food chain to...
Indus Water Treaty: India serves formal notice to Pakistan, seeking...
Virat Kohli asks Gautam Gambhir about on-field altercations, left surprised by his response
Good news for Anil Ambani, his company's Rs 3831 crore debt reduced by 87% to just Rs...
Australia legend Ricky Ponting joins new IPL franchise ahead of 2025 season