If rationalisation brought in a sense of discipline within the group, with a focus on cost, profitability and cash generation, globalisation helped it find new markets for its products. The thrust now is to sustain in those markets with innovative products, services and new processes to bring them to the market.
When you have generated the cash and have got the discipline to do that, you can keep it sustainable only by doing new things, Tata Sons executive director R Gopalakrishnan told FE in an interview. We can either keep trying old things in the new way or new things in a new way. Thats where innovation plays a vital role.