Tata Group committed to growth of economy: Cyrus Mistry

JAMSHEDPUR: The Deputy Chairman-cum-Chairman-designate of Tata Group, Cyrus P Mistry, assured that Tata Steel and associate companies will not deviate on its commitment to the growth of our national economy.

Responding to a letter sent by a 68-year-old Human Rights activist, Jawahar Lal Sharma, here soon after Mistry's appoint as Deputy Chairman-cum-Chairman-designate of Tata Group, Mistry in his response quoted former chairman JRD Tata as saying "no success or achievement in material terms is worthwhile unless it serves the needs or interests of the country and its people, and is achieved by fair and honest means".

He said that not only Tata Steel but also the entire Tata Group was committed to the growth of the national economy, the environs and to add value to its activities.

Earlier, while appreciating Mistry's appointment as deputy chairman of Tata Group, Sharma in his letter sent on November 24 expressed hope that he would lead the group to greater prosperity and success and in particular, adhere to its social commitment as enshrined in the article of association Clause 3A.

The clause stated "the company shall have among its objectives the promotion and growth of the national economy through increased productivity, effective utilisation of material and manpower resources and continued application of modern scientific and managerial techniques in keeping with the national aspirations; and the company shall be mindful of its social and moral responsibilities to the consumers, employees, shareholders, society, and the local community.