Tata Sons Chairman N Chandrasekaran on Monday said that that the Tata Group is making large investments as a conglomerate in India, while also looking at distressed assets. In an interview with ET Now, N Chandrasekaran said that the Tata Group will double down investment in the auto sector and will continue making large investments in the steel sector.
He, however, refused to speak on privatisation of Air India, saying that “will not talk about what we will do or not do with Air India on television”. Tata Group is reportedly interested in bidding for Air India. N Chandrasekaran, who was in Davos to attend the Annual General Meeting of the World Economic Forum, told ET now that he does not foresee the Budget 2018 to be deviating from fiscal prudence. He also expressed confidence that Prime Minister Narendra Modi at Davos will send a very strong message to domestic and global investors and his visit is at a crucial juncture.
This year, over 100 CEOs including Mukesh Ambani, Uday Kotak and Chanda Kochhar, and Bollywood superstar Shahrukh Khan and top filmmaker Karan Johar are expected to participate in the Summit. Narendra Modi will address the gathering at the plenary session on January 23, and in a short span of 24 hours will also host a dinner for CEOs from across the world.
India has witnessed various reforms in four years under the leadership of Narendra Modi, along with a massive push for ‘Make in India’. The summit is happening at a time when the government is pushing for Foreign Direct Investments (FDI) in various areas.
Narendra Modi will talk about steps taken to make it easier to do business in India. He will address about 20 Indian CEO and 40 from around the world and inform them as to how India is progressing. The recent 30 rank jump on World Bank’s Ease of Doing Business to top 100 will be a shot in his arm to impress the top business leaders of the world. He is also scheduled to meet Swiss President Alain Berset. Narendra Modi is the first Prime Minister in two decades to attend the summit.