Cyrus Mistry unveils new growth vision to Tata executives, co to invest $35 billion in 3 yrs

MUMBAI: Unveiling a new blueprint for growth, the Tata group, India’s largest diversified business conglomerate, has communicated to the top brass of its 100-odd companies, a new vision to maximise synergies among group companies by focusing on four new clusters — Defence & Aerospace, Retail, Infrastructure and Finance.

The group will invest about $35 billion in the next three years, Tata Sons chairman Cyrus Mistry has said. Mistry was outlining the group’s vision for 2025 and its immediate plans for the next three years, at an annual gathering of the top brass of its group companies on Tuesday.

In an email response, a spokesperson for Tata Sons said: "It is correct that the Tata group has outlined its strategy of nurturing group companies by leveraging the parenting advantage of the group centre, harnessing synergies to maximise the performance of companies and optimising its portfolio for sustained future performance. To carry forward this mission in the near term, the group has adopted a vision, to be achieved by 2025."

The Tata group’s Vision 2025, the spokesperson said will be to cater to "25% of the world’s population. As a result, Tata will be amongst the 25 mostadmired corporate and employer brands globally, with a market capitalisation comparable to the 25 most valuable companies in the world," the spokesperson added.

The conclave of Tata Group leaders, an annual feature to review and strategise for the future, has been an important event since the days of JRD Tata. The meeting held on Tuesday was significant for another reason as it was the 110th birth anniversary of JRD Tata, the late chairman of the Tata group.

At the meeting, the group’s future strategies were discussed. "Each Tata company will strive to outperform markets, sharply focussing 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," the spokesperson said.