Tata Group Aims BIG! Chairman N Chandrasekaran Sets 2024 Priorities: Check Key Focus Areas

N Chandrasekaran, Chairman of Tata Sons, has set forth an ambitious growth target for the conglomerate's chief executives, urging them to intensify efforts in driving expansion across crucial sectors like electronics, electric vehicles (EVs), batteries, and steel in the forthcoming year. Emphasizing the pivotal role of CEOs and CXOs in traditional sectors, Chandrasekaran underscored the importance of implementing robust business strategies to leverage growth opportunities effectively.

Group companies have received directives to bolster their focus on customer-centricity and the One Tata plan, a collaborative initiative aimed at promoting inter-category business synergies. This directive was communicated to approximately 500 Tata group leaders gathered at the JW Marriott Marquis in Dubai for their annual offsite meeting, according to a report by ET. Noel Tata, Chairman of Trent, along with his three children - Neville, Leah, and Maya - also attended the event.

During the gathering, the Tata Sons chairman outlined the group's vision and strategic roadmap. Top executives from leading group companies such as Tata Motors, Tata Consumer, Tata Steel, Trent, as well as newer ventures like Tata Digital and Tata Electronics, presented their growth strategies. The meeting aimed to foster interaction and collaboration among group executives, with each company selecting 40-50 employees to participate.

A senior executive, speaking on condition of anonymity, expressed confidence in the group's ability to achieve substantial growth across businesses. The chairman's vision underscores a tangible growth momentum that operating companies are expected to capitalize on. The allocation of capital and recruitment of the right talent has been strategically aligned to support this growth trajectory.

Over the past year, the Tata Group has exhibited remarkable performance in the stock market. The collective market capitalization of its 27 listed companies has surged by over Rs 9 lakh crore, reaching a total of Rs 30.45 lakh crore. This represents a remarkable 42 per cent growth compared to the Nifty's 26 per cent gain, reflecting investor confidence in the conglomerate's prospects.

Tata Sons declined to comment on the matter. As Chandrasekaran embarks on his second term as chairman, he continues to set ambitious revenue goals, driving the conglomerate towards sustained growth and success in the global market.