Don't see slowdown, Tata Group expected to clock 20% growth: N Chandrasekaran

Tata Sons Chairman N Chandrasekaran | Illustration: Moneycontrol

Tata Sons Chairman N Chandrasekaran said he has not experienced a slowdown, in terms of the demand recorded by the entities belonging to the salt-to-software conglomerate.

"Right from steel to consumer industry, there is a very strong demand. We are yet to declare the overall results, but the group, on our pace, will grow more than 20 percent, hereon," Chandrasekaran said, while speaking at the BT Mindrush.

The Tata Sons chief particularly noted that "we don't see a slowdown in consumer business", and the demand for both discretionary and non-discretionary items "is higher in Tier3 and 4 cities as compared to Tier 1 and 2".

Global complications

Even though Chandrasekaran sounded confident about the performance of Tata Group entities, he agreed that there is a note of caution due to the international developments.

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With the US and the UK battling high inflation, Europe facing energy issues stemming from the Russia-Ukraine war, and the US-China geopolitical faceoff leading to implications, there are "negative views about the global economy", he pointed out.

"From our point of view, we are focussed on growth, but we are keeping an eye on global developments," Chandrasekaran said.

The Tata Sons chief, during the event, also spoke about the conglomerate's acquisition plans. After recently acquiring BigBasket and 1MG, and also taking over legacy carrier Air India, the conglomerate will also look to make acquisitions in the semiconductor space.

“Even in our manufacturing semiconductor journey we are looking at acquisitions – a few acquisitions will be done," Chandrasekaran added.

Overall, the conglomerate will continue with acquisitions in both organic and inorganic ways. "We will do what is right. Where it is organic, we will go organic. Where there’s an opportunity for inorganic, we will definitely lap it up," the Tata Sons chairman quipped.

Chandrasekaran also noted that artificial intelligence and energy transition will be on focus of all business-to-business and business-to-consumer companies in the period to come. "AI will be a disruptor. It has implications on jobs and on skills that are required for the future," he added.