Liu
TATA
Sm BD (atetasen)
GB erin yee cemeraaCampaniee (hpi con aaCompaie BA (hen nk comfampanytat- compas)
0 (ed hewn ta coincide ish ta group chk ree) )
‘We are building for the next 150 years, on the powerful foundation that we have
inherited’
iN
(Gyrus Mty/s hands have been more tan flancs he lok over heheh of he Ta group lle 2072 and imprint on the group and ae companes hasbeen
theintv. The chniman of Tala Sons ha found fie balance basen mademty and adn ashe guides the group frovgh demanding times and crcimstances in
2 apy evoung business eneranment
In tis excuse nferiowwit ata com, the st offing Mr Mi tas abou coming fo gripe wt the responsibly of chaimanship, the multiple changes facing Tala
companies the assent of technology inoveon and ostomar cent, and te continuing Tala commitment to sade causes
How would you describe your expefance since taking over aa chaiman ofthe Tate group?
Wen 1 aesumedofeo as ho group chatan, | was cus aware of flow ings. know Iwas not sang 2 siglo company but was atthe helm of unique instution
the capabities that would alow ust succeed forthe nen 150 year
Forts peerissinstuon, his was more than aroutne change of guard at the leadership level. twas a generational
change. Many senior szceuves ho had helped shape the group fr docades were rbing ound the same ene
‘Thave wa great inautonal nowladge wth them whch I nade tombe before they calla ita day. Therfore, my
nial approach aso adopt a atenng mode. A cortary to his development was hal we Med te vacuum the
aot team wih a jusicous amalgam of maturing leaders rom win he group a6 wo as lateral inductee who
tought fresh perspocbves and new knowadao.
"ao recognised thal to surcosstul oad the group, ssa of ehing on he postion fchaman as the primary ’
tee of my autor, neaded wo eam the trust and eepect of al our chit executives, te boards of rectors and
‘xtra stkohollors. Ths meant buting onough depth of knowodge about speci dma to ack tho fh
questions, whl exposing myset ta vary of views on geopolitics, technology and societal sues. leaning
‘nent on my pat as essen De ong
‘Afr obtaining a deeper understanding ofthe group. | focused on identifying areas that needed spacial attention ENS
“Than, several important group-wide ntatves wer launchd, leveraging the ney Yormad Group Exec Couns
(GEC) and ethar group rescues for mplemontton. On tho poople se, we ted ntervontions to improve engagement and tho quay of He. We dovlopod a
feslomer manfesto to enhance customer centiety And the newly ceaed postan of Chie Tecalagy Ofer (CTO) a he group evel has been nsuetalin making
technology and innova 2 conta ptr of ur prom satogy
‘Alongside these nates, here is an ongig focus on perfomance management systems and the qual ofthe satgis deployed by ou operating companies
Several mestura have ba inten tne ths ond, cdg reinforcing the neo for pedrmance and hang en of eateay
‘dentied to achieve this vison?
Esch four stoup companies is chating sown stategy and grow try, wh the focus on suainable, prefab growth. Each of eae compares hes ened the
‘etc factors that make them sustainable over a longer a horaon. ite conser Tat Stel nda, for aap, the fac fat they re ow onthe cost cee
produce dterentated peduct and are a strong brant inte market, nas Repel them sue W a pei when most se produces gobaly are underwater Sera,
‘ho main actors underining sustainably in cach company weuld be erat
[Mipsis con ie iae even ase
trope en 2026)
y 2025, me Tau ain 10 ee ne Wes
125 pecertal te wats pepuatn
‘The group ha invested Rat 15000 cre ($7 ion) in capex oer the las decade. Cur nvestment over the lat re years alone has ban a excess of a7, 000
Gar (828 bile). We rengrize tha growth has o bea function of he oporaing cash lows wo genera. tho greup ove, ovr tho ts he years, our opraing
‘aah flows have groan by ove 90 percent CAGR, but his, a8 we now, nt Be appropriate way to use such daa our dul companies need fo en te igh
‘tf cracalthat we donot ok at our capexinslton om our nvstnent inal, brands an tehnolgy. These wile the tus oferenbatersin the fate Toe
cd ou corpanies tack metics such a woklorce engagement, caster focus net romater score andthe numberof patents publhed — these ate alo monitored
atthe aggregate group level— in ation o mers such 25 Tata brand peiomance. The tics sho a heathy and postive rend though we silhave 2 lng way 0
0 10 meet cur asprations for 2025.
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TATA,
SS Cw BF tm @
GB Wve rhernsounbe conus TatzConpanis) yy (hpi con/TataConpanie) i (htpuhvnuinkedin comicompanat- companies)
0 ‘el (ap:pewnata.cominndvariclinsideind-cjrs
Serene 2016
"We are building for the next 150 years, on the powerful foundation that we have
inherited’
ow ithe group responding to challenges posed by therapy changing global business and economic envionment?
‘eur Aonual Group Leaders Conference (AGLC) of 2015, had ativated several mensions of the powerul changes inpacing ou enviroment — geopltia
‘scl economic an tecnolgkal Wo ar aleadysocing many ofthese plying out A iifcant number of eur companis are parla sensitiv tothe consxual
cnvconmentin which we operate, and they re impacted toa gfoae extent by cea factor. Tata eompancethat ate coer othe eansumet, euch a8 Ttan and
ots, ton to hav os oat ae ofen hae a smother earings raph
Pe erg
eee ert ns
ee ee
(ur sraegy a he group evel fo get sero consumes, fo anpa their needs: We wily and bance our paso to ensure tha tan aggregal evel we are
mor insulted from business cycles.
We wal conn oinvetin ou song busines to business eerpias, where We have paver devrs for long-term vale reaton, i aur busiest, we are
‘mphasiing tho imparance of eororato foresight and cistomar insight Companies tha re able to understand longer-term tends and antiga evohing customer
eds wi be wel paced to make the mat of these changes
‘What opportuni does the evolving business environment prosont othe group?
‘ge the rapid pace at ich eehnaogye moving — be dn dial mati eenoes or biscences — binging both opportunites and rik, From he opportune
porspocivo, we invest appropritly mn resarch and develpment and comb that wih a mul ayoredundortanding of customers. | boleve thors @ huge
possbly for us to coat new industes, new products and new busines mode's. On the sks otf we ae not agi I thik we willbe let behind
‘A vial oppacuniydefiring our times he dita wave hats arslonning alindusies. Recopnsing tis, the theme at AGLC 2015 was digital We had Chanda of Tata
\We ae euhatng tres companiaein the dig spate a his pontin ne. Tata CLIO, our a-commerce plato, an orn:channel marketplace wih arte produits
that dle vale fo our eusemer. is que aunque pining wa have chosen, We lo have Tala, our data pay, which elec uae data anasto
‘cannoct th dts wih respecte our many consimrs £0 ao anc wohave 3 mots hoi ir fh nods. fd fly, th Tata Dipl Heath, we ar rating
‘plat where wea experinening with diferent business models to buld hed fact plata for neater ia
{am dolghted a soe many Tata companies apt erent ements of dtl nthe operations, and aur people ung dian fe consumer and marketing sid of
ther businesses While we have had ealy successes win ou companias, the more mportant aspects hat they are aming to use digtalin a manver that ings
Inthe context ofthe increased markt volt, what are some of the key leadership and organisational iniatives being undertaken by our companies?
Fundaertaly Tata companies nocd tae rotunt katie to ever satanable, rfiabe growl Inti igh at the 2014 AGLG, I had emphesised puting value
eatin for he customer atthe heart of our sateny Further, hamessng novation and technology 25. derensatos wl ive grow, even nthe feo of change. The
est companies ure prot Pe strategies by exoting ust Yards and sess sl hase sates fo sudden enwonmenal hangs,
Enlstingeasomer yay and building song Wands help companies weather many sons, and fen enable the
[pacsng on of some of he vlatliy tothe markt. Inthe 2014 AGLC, we ronowod ou commiment to customors wth a
rome of bung customer cenit as acura ilar We promised ‘develop’ a ore profound understanding of
‘ho unquo ness of our customers. dover’ poneerng products and serves of eustanding ually and vale. and
‘deg our customers win grest expences at every touch pont. Fufling tis promise nevey instance isne Key PSU Ee gE)
tohaung a secure place the culomer’ heat eS
so mentioned the need thave crgarisatonal speed and agity and an opennes fo change think, nthe context (Ua naa
ottuputert envionment, oigansatona agit & etuealy mportant, ands one ofthe pons stessed gan at MEReaee
‘ho 2015 AGLC. Wo hve orgarisatons which have song harhial struts, and procoseos hat actualy miro
those stueure. we have tobe agin today’s envionment, we ned otk of aherogansatenal stuctures,
This would invoha having network srucures hich work alongside the radtonalhicrarcieal srecres -
Care should be taken to have the ight congontin of tue in euch ebeddd network sbucuee, which can collaborate and beak though hierarchical proceosee
whore nsdn Tata Motors. 25 porcnt oft loam comprises yous alent nto company hs gs young eaders ho opporuny show tee mato wth
atenging astignments and to shine, Anetnok suc ofan plemented by eng up wnumbe of cose-unctonal teams and having a govemance suture
od rect by help landersSu
TATA
= Cw BW tte @
GB (rp rneenyoutibecomfuserTataCompanis) 9p (tp:fwitercom/TataCompanis) (hp inkainconfcompanytat-comparies).
0 (a teens conditions mit gocher)
‘We are building for the next 150 years, on the powerful foundation that we have
inherited’
Me Ratan Tata was éeply vole in promoting 2 tectnelogy-orented cure nthe group We are bung on that tong foundation. The Group Chis Technology
(meer ceo exangetse ovation win dierent group companies; we elu Chit Execves tats sam equal hee oe
ei acto
Technology Officere, | underlined
eee a ey
pees
because true value in today's
Cee tad
Cee era
ee ye ed
bigger strides that we take.
“Toe word naa moved away om age adel Inova lab a mace dsrbuted navakon at mip aeons. Alatean be done na dated manner the
gj spac, norms of vital alaborton pleforms for inovaon, We may inte fre ao ook at binging fopethern a physical space some of ur group
expan to work o pint propts. What we ae saying les eos, let3 ee what yps of place and acites we need, lat ek athe distibuted model and see 3
cambinaton ofthat wth some of to physical spaces that wo aroay hae.
‘Across group companios, we recanty crossed th mostne of 7.000 patont applications, and the rumbor of pators sacred each yearby tho top fve Tata companiss
has trod in th last roo years. | hnik we have done a sanicant amount of wrk frou Tata Inovsta, tho colaborate ptr ceatod bythe group to promote
imovaton. in bling this platform, | would ecall paicula, Me Gopaakshnanscontibubons.
‘The lmovista model nas ove the years, evolved into something qute fantasti. Whie some of te mrovatons are nemental the ave o by concept a Inova
docs make ux bolt. Ate recent foram of Tata Chil Tecnology Offer, luneined the ned oe Boer Ws have to ata aking bolder stpe boeatze us value
today ernment wil nt en be crested on neremantlnovaton, but the boler and bigger ts twa take
What benefits do companis derive rm being part ofa diversified business group in today's contest? nat depth of domsin knowledge acca success
factor?
“Tare tno denying thal domain sengt a ere fac for sucess n business, The maybe more tue me hue. Even 3, te Tata group a vate to
porto comparie by nurturing them, orchestrating greater synergies and hoping thm optimise theron term performance
Iisa useful roto thatthe way nich a dvorsfed busines group suchas Tata ad alo iforont fom congrats or privat aqui funds. Tata as 2
buenos group, wn compared wi priate equity fms, ha date advantages as wo ae sone dravbuck, From anutuing perspec, the Tata band, developed
‘ror 15 decades, ds huge ali to our compares. Ths also makes exe moe dificulasthe Tata grup has a deeper commémont a stakaheklers and th brand
‘cannot be Wanseted, On the othr hand, the group can leverage resources across As large talent ad leadership pots With ls global prea andrepuabon, ean
captaies on opportuni maceoerbl didi compari
From a synergy pcepsctne, avn whine restos of sparse lga nis, there ae many opporintes for two-site or win-win synergies, where companies
‘ct er serves and enjoy muti benelts. The shaing of bet praciees an example wete we have plata for te syneigiate Benet of verse bushesses
vat equity funds ae rarely abso tap into such ynorgis, du fo he imports of nddual os. Last, fom a pote perspctno, th group can take dione
wth longest herzens for vate ereaton, For instance his alows the neubaton af next generation businesses wth long gestation perils, whereas pia @quily
fans have average fs of sovn years ot
Wen compared Fla one ote hand, Tat companies Dee arturing provid by th ndape 12 The Board add et of value
‘rom doop doman experi and trough skatogc puitance and good povemance, Atha group lve we have rece come out wth ou ‘crore governanca
guideines whch provide 2 ramewor on the efechveness of boards, and aricult the agendas ofthe ental batdcommitees. In adion, rather han impose
‘onman systems and paces, the Tata grup allows Rex win read gudcines xo fat ompante an cptmiss for he eique cons
se sp)& o tsi ontario)
= Cw BD (aonom @
(8 (reese comtuerataCmpanise)y (hpuiterconTataCapanies) BA (hws nd conicmpanytat compan)
“We are building for the next 150 years, on the powerful foundation that we have
inherited’
‘Could you slborate futher on our approach to corporat governance?
In kecping with he Tala ethos, we ar uly commited o maaan the highes! standards of ethes and govenance in the conduc of business by ou eters. Thea
includes empass at ho group level on cra sandard and lenge aspratins; roving suficent and nesded autonomy to grup campanis ad hci boards
‘oindependrty focus on ceaing value for the siaeholdrs: and varity of parenting sys at mest the needs of dividual companies at tha indhidul tage
of growth and maturity
eee eet
TBEM model and new initiatives
ea ee
Business Excellence Group will
ee a rd
Penney
‘Sinitieant changes the eterna worl chiding eguaioy changes, hae povided us the oppacuniy ore on ow pois and practice in omperate govemance
‘Our now governanco guidlines’ have boon adopod by al ou lrgo operating comparios na,
1 oar ffecvenes framework, comprising the si eps required forthe efectne nctonng of boars — compan, evaluation, learing and development
remuneraten, succession, and process managment — has aso beon putin place. Bulking on our tratin of govomance and accounlabity, Sach of hess aspots
we nave ted io go beyond the tro hela, by marying curent and emerging global praices wih he values fhe group.
‘Atour companies have strong, independent and adonomovs boards, Apart from mesing the basic compliance requirements in tems independance, gender, and
‘ir rqurements, we have Been consol aking tard ensuring thal fo composion of the boards of Tata efarpiscs rfl the equ anional and
oman capabityo steer hem nthe desired drecton
‘ur ards pay tea les n quidng management owarcs sustainable and potable grow of Tala companies, and provide oversight on management ant
{goveranein these comparias Whi the excutve laderhip team develops ho satogy the board rviows tho sag, whe chalonging an gun ho loadorship
team, This neds gig feedback and nputs in seting aspiatons,defning conpitive and teentiated customer value propoions, making apt locaton
‘fon and ensuring hata expansion prcjcs cover the coe of apa seing the rk appette and monitoring hoy rks, balancing srry and ng
petopectos fr al stakcholdve, and ageing on mar atatege mperabves.
‘The Tata Businoss Excllonce Model (THEM) has boon a mainstay forthe group fortwo decades now. What ar some ofthe Koy changos you have
Ineroduced in TOEM in recent year?
‘TEM provid 3 platorn fr companies to focus on excallence ander eadercip nent to share and lam bat pracicor. Sc ie begin 1995, come 730 THEM
assessments have been conducted by meter and assassoreams rom Tata companies 2coss the word We hae song leveraged the Malcom Batige excellence
rameuot, an owe a des of gatude to MY Tata re vita ugh ta adopt he model for he gu, to Men Seth an rs Kano ta ead the
formatv das to inetuionaioe TBEM implomontason, and to Nr R Gopalakrishnan for drvng tho THEM agenéa as an important pilar ofthe Brand Equity and
Business Promatn programme to azengthen he Tata and
Inte lst tree years the character of TEM has change, wth he assessment teams presenting othe
ard a eco ofeach Tata company. These pLesenatons tng an dependent resection of he company
toto board and provide assesement ofthe aby to convr satay into ations. Accordingly. the
fexpectins fom he assessment ams (coordinated by the ena Tata Busnes Excelence Coup) are
rc higher
‘An ateitecture that enhances the performance of goup companisin a sustanable manner has been
Coated, Ths inves asscssmons, daop dios. capably bung ad he sharing of best acco m rea
ares fr the group sey quay of srategy customer centety,operatonal excellence and technabgy
Cee on GS
re Secscanaecarta
‘Some of ur businesses clearly face very serious structural challenges. How should we think about thelr future?
‘twas art me lative eat ta! one needed to cnton the calengng situations facing some of ou businesses, and uimatay ths woul entaihard deesions on
runing the porto, Eu have lerad tough experience tha you want to do the gh ng by alyourstakeholes, there arene shakes. Thre wil alway be
xtra fluancars and xo called experts, who may la malvaed by inmedateansaconal gat, oating urn o chum ow potas mportant a we develop
‘ur oun pogross bates cn knowadge and cont, kesping al stkehoWer mind. We shou note alas tating tug decons forthe ng raasone, wth
“Conpazson” ithe ay word thre one tog thal have abo canty oni thatthe cous of acon seco hou ol undermina the mora conic wth out
larger employes base. a eeu. have chosen acveransfomaton rather tan revluson as our guiding poy. My aproachieoeneur that we havea deeper
Uundetstanding a me srucural ders for evry sessed tusness and cur presence at earn! We woul then evabate eleaderahp,sategy and operations of
cach bumees before we lhe any deinen Wo ext.
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tease ela ee undestied you seer
We nave undertaken disaster response actin nth event past Jar & Kash, Nepal, Utaralhand, Andre Pradesh and Tai Nadu, | an grateful to out
enters whhave gone no date suck reat and oferd cial mipportin rate dibutor,recasiucion ante rehabltaten of afocted communi
We are ientjing CSR programmes where our group companies can colaborate and create = bigger impact tthe nana or bal tage, Theft uch nti iin
(he ares of abl development, unde the banne of Tala Strive a es 16 come, ths nitive wep ak milons of you and enable hem to em meaning
lvatnods,
(nthe environmental sd, pevhapa the mest etal chalenge ig posed by mate ange and gobi wating, rected in aver uapecedenied weather ‘elated
damit in rocont years. Wie havea numberof ngoingiiaives oars tis problem, suchas Tata Sto parpaton in tho ulra-‘ow carbon soo atv and
Teta Moto’ commtmont to source 100 porent fs enigy om rnevabie sources nthe fue. It alge a mate of great salsacion that ou corporate
headquarters, Bombay Hous, has boon recognised a nda et hefagebuidng fo bo plano led by he hear Groen Bulg Counc.
fot pevnn 5 6/7 [6] 0 new tat
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(Bd (rip:toeeyoutbe comiusevTataCompanies) yy (hip Mite comyTataCompanios) FB (hip:dArwndinkeincomfcompanyfate companies)
"We are building for the next 150 years, on the powerful foundation that we have
inherited’
‘You continue to intoract with Calman Crs, Mr Ratan Tata, Would you ie total us something about these interactions?
‘Yeo, ante te olrae with My Tata wo ala the Chaiman of th Tata Tru, ut ages shareholder Inoed te eneue ther is goed alignment on skategy
tbotoon Tata Son andthe ata Taste
‘Oyu Foy wn Ratan Tt, Charman Een ot
ator! Atma Insoraton Cant te U
‘Burg my fst year, had he oppocunty to concurrent serve, alongside Mr Tata, on he boards of many of our operaing companies. One ofthe most posite
(ates om these nferacons was the ease wih whch Mr Tata were tghats Whe sng on the Boa of he operating company, his rt ly wast the company
andits board equally, he represented the promoter company ands intrest
‘have had he opportunity to vit JLR multiple mes with tr Tala, He has avery Keen sense af design and an eye fo deta The te must ot hin fx protecting he
hortag ofthese tw coi rsh brands.
Wo share dep appreciation for ecology adhe impact tcanhava on busines and soy Mr Tala coninvs to provide ace adn oo aviation and
‘aerospace vntres ashe passionate about his pace and the group could benef rom his sipieant domain owledge,
"tankitisapvige tobe partof the Tata greup and you are reminded ofthat prlege every tne you mes Tata employes. Whether itis Canaan sut-archc
temperate or Kalnganagarin igh heaton shop Hears oi aie or weaning ane o TOS energetic ice, have had opp erat with
thousands of employees fer avry sch encounter, ei th the raazaton that | am esceednghy format abe apart the Tata group ar proud tb a pat
othe Tata group.
[Desig ad technology are my special ve, both the exert andthe antcpation of reaing something new, a= woos the ott thas to emprove tho fs of
milion aro the word, Whenever posal, Wy o take te time to vist our tactical ears and aba, and pend tine wih universes which are incubating nt
gonoratontochnoiogios
In cecent years, apat om the Inno events and ou hie technology ofie meets Ihave had mute opportunites vt the development cetes of TCS, the
being made, vhetherin nano-materis, fod derivatives o:specaly chemical. eno discussing the work being dane wth the young sins hee
‘Could you te us abit about how you wind down during the time that you get away from work and business?
{ams varacous reader; Lenpy reading lt of son fcton fused to ply gol weekends but have sleppedon a gol curse the last ve years 20! out
probably ay Im doing hada of keeping ahh worl alana!
‘The mostimportnt hing forme, apart rom work, s my fam My wf, Rohiga, happens tobe my best end and we willbe celebrating our 25th weding aniversary
ext ear The woud ne Gopathrahnan’s book tng tue everybody needs 2 Clementine mer Rania doe not Nestea sage wah me re me when
ing someting wrong,
‘have two teenage so, Lacking at fe hough hei eyes and tying to understand wha happening in he geneaton interesting. The two of them are students —
‘one school nd the ther nverty — and grab evry chance fo chat and atch vp with hem, ako have wo dage who give mo ala of conten ow. ie
semting | cherish and ook forward to when go beck home
i vprintasp)