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Industry Legend Ratan Tata Dies At 86  

Ratan Tata had became chairman of the $100 billion steel-to-software conglomerate in 1991 and ran the group founded by his great-grandfather more than a hundred years ago until 2012…reports Asian Lite News

Ratan Tata, chairman emeritus of one of India’s biggest conglomerates, Tata Sons, has died at 86. Just on Monday, the industrialist in a social media post had dismissed speculation surrounding his health and had said he was undergoing routine medical investigations due to his age.

N Chandrasekaran, Chairman, Tata Sons, in a late night statement on Wednesday, announced the death of Mr Tata, hailing the industrialist’s unwavering commitment to excellence, integrity, and innovation. 

“It is with a profound sense of loss that we bid farewell to Mr. Ratan Naval Tata, a truly uncommon leader whose immeasurable contributions have shaped not only the Tata Group but also the very fabric of our nation,” said Chandrasekaran.

“For the Tata Group, Tata was more than a chairperson. To me, he was a mentor, guide and friend. He inspired by example. With an unwavering commitment to excellence, integrity, and innovation, the Tata Group under his stewardship expanded its global footprint while always remaining true to its moral compass,” said Chandrasekaran.

Remembering Tata’s contribution to philanthropy, Chandrasekharan said “from education to healthcare, his initiatives have left a deep-rooted mark that will benefit generations to come”.

‘Welcome back, Air India’, says Ratan Tata. Pic credits IANS

As news broke, tributes poured in from the industry and beyond. Prime Minister Narendra Modi led the tributes, hailing the industrialist as ” a compassionate soul and an extraordinary human being”.

“Shri Ratan Tata Ji was a visionary business leader, a compassionate soul and an extraordinary human being. He provided stable leadership to one of India’s oldest and most prestigious business houses. At the same time, his contribution went far beyond the boardroom. He endeared himself to several people thanks to his humility, kindness and an unwavering commitment to making our society better,” the Prime Minister posted on X in a series of tweets along with pictures.

Rahul Gandhi said: “Ratan Tata was a man with a vision. He has left a lasting mark on both business and philanthropy. My condolences to his family and the Tata community.”

Industrialist Anand Mahindra said he is “unable to accept the absence of Ratan Tata”. “I am unable to accept the absence of  Ratan Tata. India’s economy stands on the cusp of a historic leap forward. And Ratan’s life and work have had much to do with our being in this position. Hence, his mentorship and guidance at this point in time would have been invaluable. With him gone, all we can do is to commit to emulating his example. Because he was a businessman for whom financial wealth and success was most useful when it was put to the service of the global community,” said Mahindra.

Mukesh Ambani hailed Tata as one of India’s most illustrious and kind-hearted sons.

“It is a very sad day for India and India Inc. Ratan Tata’s passing away is a big loss, not just to the Tata Group, but to every Indian,” Ambani said in his condolence message.

“At a personal level, the passing of Ratan Tata has filled me with immense grief as I lost a dear friend,” he said, adding interactions with him “enhanced my respect for the nobility of his character and the fine human values he embodied.

Kiran Mazumdar Shaw, founder of Biocon Limited and Biocon Biologics, tweeted a throwback picture remembering Tata.

Google CEO Sundar Pichai credited the businessman for “mentoring and developing the modern business leadership in India”. “He leaves an extraordinary business and philanthropic legacy and was instrumental in mentoring and developing the modern business leadership in India. He deeply cared about making India better. Deep condolences to his loved ones and Rest in Peace Shri Ratan Tata Ji,” Mr Pichai posted on X.

Ratan Tata became chairman of the $100 billion steel-to-software conglomerate in 1991 and ran the group founded by his great-grandfather more than a hundred years ago until 2012. He founded telecommunications company Tata Teleservices in 1996 and took IT company Tata Consultancy Services public in 2004.

In a role reversal in 2004, Tata Group, an Indian company, having acquired iconic British car brands – Jaguar and Land Rover – found itself cast as reverse colonialists.

In 2009, Ratan Tata fulfilled his promise to make the world’s cheapest car accessible to the middle class. The Tata Nano, priced at Rs 1 lakh, became a symbol of innovation and affordability.

Tata was twice the Chairperson of the Tata Group conglomerate, from 1991 to 2012 and from 2016 to 2017. Although he stepped back from the company’s day-to-day running, he continued to head its charitable trusts.

Cyrus Mistry, who succeeded Ratan Tata as chairman of Tata Sons but was later ousted in India’s most high-profile boardroom coup, died in a car crash in 2022. The bitter feud between the two remained unsolved. 

After stepping down, Ratan Tata became chairman emeritus of Tata Sons, Tata Industries, Tata Motors, Tata Steel and Tata Chemicals.

Long after retirement, Tata remained a popular figure on social media, with heartfelt posts about animal rights (particularly dogs) and appeals to Indian citizens.

Carrying on a tradition dating back to the time of Jamsetji Tata, Ratan Tata ensured that Bombay House, the Tata group’s headquarters, remained a haven for stray dogs.

With over 13 million followers on X and nearly 10 million on Instagram, he was the ‘most followed entrepreneur’ in India, according to the 360 ONE Wealth Hurun India Rich List 2023.

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Luxury Auto Giants Rev Up in India

The auto giant has already been making the EQS sedan in India and has sold around 500 units, as per reports….reports Asian Lite News

As the market for luxury cars and top-notch electric vehicles (EVs) ramp up in India amid friendly government policies and shifting ‘generational mindset’, more and more global automakers are lining up to manufacture/assemble vehicles in India.

The German luxury carmaker Mercedes-Benz has just launched the EQS SUV which is assembled locally in India, which is now the second country to assemble the EQS SUV outside of the US. The made-in-India luxury EV is priced at Rs 1.41 crore.

The auto giant has already been making the EQS sedan in India and has sold around 500 units, as per reports.

Mercedes-Benz is reportedly making an additional investment of Rs 200 crore in 2024 towards manufacturing operations, new product start-ups and digitisation of manufacturing processes in India.

Santosh Iyer, MD and CEO of Mercedes Benz India, said the localisation of the EQS SUV “manifests our local competencies, creates value for Indian customers and supports the government’s vision of ‘Make in India.’”

In May this year, Tata Motors-owned Jaguar Land Rover (JLR) said it plans to start assembling the flagship Range Rover model, along with Range Rover Sport, in India for the first time, significantly bringing down the prices.

The company’s Pune plant currently assembles the Range Rover Velar, Range Rover Evoque, Jaguar F-PACE, and Discovery Sport models. The India-assembled Range Rovers will be available for delivery by the end of this month while Range Rover Sport will arrive in the market by August.

According to N. Chandrasekaran, Chairman of Tata Sons, the local assembly of the flagship models marks an inflection point for the India subsidiary and shows the confidence the company has in the market.

As per industry data, the sale of luxury cars from brands like Lamborghini, Ferrari, McLaren and Aston Martin are experiencing strong demand in the Indian market. According to a latest wealth report by Knight Frank, India is likely to see more ultra-wealthy individuals, with those possessing a net worth exceeding $30 million to reach 19,908 by 2028 — up from 13,263 in 2023.

Sales Surge on Heavy Discounts

After sluggish sales in the first five months of this fiscal, automobiles and consumer electronics companies saw some surge in demand due to discounts and promotional offers during the ongoing Ganesh Chaturthi and Onam festivals, multiple reports said.

“In view of festivals like Onam, Navratri, Diwali, and Dussehra, electronics, automobile and smartphone companies are offering discounts of up to 30 percent to customers,” the reports stated.

Maruti Suzuki reported a 10 per cent increase in bookings in Kerala before Onam and deliveries in Maharashtra and Karnataka rose similarly on the first day of Ganesh Chaturthi.

Two-wheeler sales surged by 15 to 16 per cent during Onam.

During the festive season, vehicle sales may increase by 15 per cent from the average of 3,30,000 units in the first five months of the current financial year.

Sales of consumer electronics may see an increase of 7 to 8 per cent compared to last year. Sales of frost-free refrigerators increased by 15 per cent during Onam. However, sales of single-door refrigerators have declined by 6 to 7 per cent.

Sales of fully automatic washing machines have increased by 12 to 13 per cent, while those of semi-automatic washing machines have increased by 4 to 5 per cent.

Earlier a report said that the upcoming festive season in India is likely to see the creation of up to 10 lakh jobs with a notable surge in gig and female workforce participation. Many industries are gearing up for a rise in hiring, including retail, hotel, e-commerce, logistics, consumer goods, banking, financial services, insurance (BFSI), and retail, according to NLB Services, a technology and digital talent solutions provider.

Among these industries, e-commerce will see the highest demand with a 22 per cent increase over last year.

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Tata, Serum Institute on Time’s 2024 Influential List

While the Tata Group was included in the list under the ‘Titans’ category, Pune-based SII was part of the ‘Pioneers’ section….reports Asian Lite News

Group and the Adar Poonawalla-run Serum Institute of India (SII) have been recognised among the top 100 ‘World’s Most Influential Companies of 2024’ by Time magazine.

While the Tata Group was included in the list under the ‘Titans’ category, Pune-based SII was part of the ‘Pioneers’ section.

“Founded in 1868, the Tata Group long ago cemented its place in India’s economy, its vast portfolio extending from steel, software, watches, subsea cables, and chemicals, to salt, grains, air-conditioners, fashion, and hotels,” according to the company’s description by the magazine in its list.

As rivals have aggressively courted new businesses, it struggled to keep up with stiff competition.

In 2017, after over a century of family management, the “high-tech pivot” N. Chandrasekaran took over as Chairman of Tata Group despite having no personal ties to the family — highly unusual when India’s business landscape is ruled by family succession plans.

As chair, he has transformed the group by investing in tech manufacturing, AI, and semiconductor chips.

“In 2023, it became the first Indian company to assemble iPhones, and is building another plant. In September, Tata announced a partnership with Nvidia to develop an AI cloud in India,” read the description.

In February, Tata’s combined market capitalisation reached $365 billion, “more than the entire economy of India’s neighbour and rival, Pakistan”.

As the world’s biggest vaccine maker, Serum is no stranger to churning out billions of vaccines — it makes 3.5 billion doses every year, including for measles, polio, and most recently, HPV.

Serum’s CEO Poonawalla told Time magazine that the company’s success can largely be chalked up to its private ownership.

“We’ve always looked at growth not in terms of pricing, but in providing access,” he was quoted as saying.

The company provided 90 per cent of the vaccines for India, and after that, began exporting the vaccine to other countries as well.

At the end of 2021, the SII stopped manufacturing Covid-19 vaccines, and in 2022, it destroyed around 210 million doses of vaccines sitting in stockpiles.

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Tata Partners with Shell for c Infra

The two companies are also exploring introducing convenient payment systems and loyalty programmes to facilitate charging for electric vehicles….reports Asian Lite News

Tata Passenger Electric Mobility Ltd (TPEM) said on Thursday that it has signed a non-binding Memorandum of Understanding with Shell India Markets Private Limited (SIMPL) to collaborate in setting up public charging stations across India.

“The collaboration will leverage Shell’s fuel station network and TPEM’s insights from over 1.4 lakh Tata EVs on Indian roads to set up chargers at locations frequently visited by Tata EV owners. Additionally, both companies will work towards delivering superior charging experiences,” according to a TPEM statement.

The two companies are also exploring introducing convenient payment systems and loyalty programmes to facilitate charging for electric vehicles.

Commenting on the partnership, Balaje Rajan, Chief Strategy Officer, Tata Passenger Electric Mobility Ltd and Tata Motors Passenger Vehicles Ltd, said: “Through this partnership, we aim to grow the existing charging infrastructure, which is crucial for mainstream adoption of EVs in the country, particularly as the customer base continues to expand. This strategic alliance will help in driving up the EV adoption in the country.”

Sanjay Varkey, Director, Shell India Markets Private Limited, said, “Shell is committed to offering integrated solutions that prioritise convenience, safety, and sustainability in charging EVs. Our ultra-fast and reliable chargers ensure that our customers enjoy a sustainable, hassle-free and efficient charging experience.

Driven by rising consumer interest, government initiatives and infrastructure development, India’s EV sales nearly doubled in 2023 and are likely to grow 66 per cent this year, a report showed on Friday.

Overall, India’s passenger vehicle (PV) sales grew 10 per cent (year-on-year) to surpass 4 million units, its EV sales nearly doubled, rising 97 per cent YoY to account for 2 per cent of the overall PV sales.

By 2030, EVs are expected to represent nearly one-third of India’s PV market, signaling a robust long-term growth trajectory in the country’s automotive sector, according to Counterpoint Research.

“As the infrastructure and consumer traction develops, we will see the entry of newer players such as Tesla and fast-growing Chinese brands like Xiaomi, which will catalyse innovation and competition in the world’s fourth-largest PV market,” said Research Vice President, Neil Shah.

“We will see players in the broader value chain prioritising India’s market not only to target domestic consumption but also for technology R&D and export opportunities,” he added.

With a strong portfolio and strategic tie-up with Uber, Tata Motors held more than two-thirds of the country’s EV market last year. However, it lost a significant share to Mahindra & Mahindra and BYD.

Recording a 2,476 per cent increase with just one model in its portfolio, Mahindra & Mahindra was the fastest-growing brand in 2023, followed by BYD and MG Motor, said the report.

“EV sales in India are expected to increase by 66 per cent in 2024 to constitute 4 per cent of total PV sales,” the report mentioned.

Maruti Suzuki’s entry into the EV market is expected to shake up Tata’s dominance.

“Moreover, VinFast’s move to build a factory in India’s Tamil Nadu state highlights the growing interest and investment in EV manufacturing in the country,” the report noted.

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Tata Eyes Pegatron’s iPhone Plant

Pegatron’s India plant has nearly 10,000 employees, and the company manufactures iPhone 13 and 14 devices…reports Asian Lite News

Tata Group, which acquired Taiwanese electronics manufacturer Wistron’s India operations for $125 million in October last year, is now reportedly eyeing to acquire Pegatron’s iPhone manufacturing facility near Chennai, as Apple ramps up its presence in the country.

According to a Reuters report, citing sources, the Tata Group may hold a 65 per cent stake in a “joint venture” to operate the Pegatron plant, for which talks are in an “advanced stage”.

The company plans to operate the JV via its Tata Electronics unit, the report claimed.

Pegatron’s India plant has nearly 10,000 employees, and the company manufactures iPhone 13 and 14 devices.

Pegatron, Tata Group, or Apple did not immediately comment on the report.

Reports surfaced in December last year that the Tata Group is planning to build one of India’s largest iPhone assembly plants in Tamil Nadu’s Hosur. The facility is expected to feature around 20 assembly lines and employ 50,000 workers within two years. It is expected to be operational within 12 to 18 months.

Tata now operates the iPhone manufacturing plant in Karnataka, which it has purchased from Wistron.

Apple is aiming to manufacture more than 50 million iPhones in India per year, as it aims to shift some of the production out from China.

Tata.

A slew of initiatives by the government have fuelled the growth of manufacturing facilities, with its Production Linked Incentive (PLI) scheme for smartphone production, allowing Indian companies to compete with global electronics makers based in China. According to industry experts, India stands out as a potential hub for production amid escalating US-China tensions, owing to its substantial internal market and skilled labour force.

The Apple ecosystem employed over 150,000 people directly since the production-linked incentive (PLI) scheme was approved in 2021, making it the country’s largest blue-collar job creator, Minister of State for Electronics and IT, Rajeev Chandrasekhar, said on Monday.

About 3 lakh people have been employed indirectly, with a total of over 4 lakh new jobs, owing to Prime Minister Narendra Modi’s PLI policies which have been transformative, said the minister who is an NDA candidate from Thiruvananthapuram Lok Sabha seat.

“iPhone factories are set to hire more than 10,000 people directly in the peak June-September period,” he posted on X.

The FY24 production of iPhones exceeded Rs 1 lakh crore in February, with 70 per cent exports and a total market value of Rs 1.6 lakh crore.

“iOS app development now supports more than 1 million jobs. Apple has launched an education initiative on women’s health as part of its $50-million Supplier Employee Development Fund,” the Union Minister informed.

Apple’s revenue in India hit nearly Rs 50,000 crore in FY23, with sales increasing 48 per cent to Rs 49,321 crore and net profit rising 76 per cent to Rs 2,229 crore — fastest growth of net profit for Apple in India in the last five years.

India is close to achieving the target of Rs 20 lakh crore worth of mobile phone production in the last 10 years while crossing Rs 1.20 lakh crore worth phone exports in the current fiscal year (FY24) — a whopping 7,500 per cent increase in exports over a decade — top electronics industry body India Cellular and Electronics Association (ICEA) said last month.

Driven by this export growth, mobile phones have now become India’s fifth largest export as an individual commodity.

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Tata Steel to shut coke ovens unit in Wales

Tata Steel UK will increase imports of coke to offset the impact of the coke oven closures, the company said…reports Asian Lite News

Tata Steel on March 18 informed the bourses that its UK unit has decided to cease operations of the coke ovens at the Port Talbot plant in Wales, following a deterioration of operational stability. Tata Steel had previously stated that many of its heavy-end assets in Port Talbot are at their end-of-life capability.

Tata Steel UK will increase imports of coke to offset the impact of the coke oven closures, the company said.

Earlier this year, Tata Steel said that it is currently losing around 1 million pounds a day from its operations in the town and keeping a blast furnace open on the site and making steel from scratch would lead to a further loss of 600 million pounds.

The steelmaker is currently at an advanced stage of consultations with trade unions in the UK on its proposal for the planned restructuring involving the closure of the iron and steelmaking assets at Port Talbot, and subsequent transition to sustainable low-CO2 steelmaking involving a £1.25 billion investment in Electric Arc Furnace technology in Port Talbot and asset upgrades.

However, the installation of the low-emission system could lead to a loss of 2,800 jobs as electric furnaces need less manpower.

On January 19, Tata Steel said it will be shutting down the two blast furnaces in its Port Talbot Steelworks in Wales, UK in phases, a move that may affect up to 2,800 jobs even as the steel major starts talks to transform and restructure its loss-making UK business in line with its green goals.

The company said it will “commence statutory consultation as part of its plan to transform and restructure its UK business. This plan is intended to reverse more than a decade of losses and transition from the legacy blast furnaces to a more sustainable, green steel business.”

“Port Talbot’s two high-emission blast furnaces and coke ovens would close in a phased manner with the first blast furnace closing around mid-2024 and the remaining heavy end assets would wind down during the second half of 2024,” Tata Steel had said.

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Tata Motors starts work on gigafactory in UK

On Electric Vehicle (EV) sales, he said the volumes have been increasing sequentially…reports Asian Lite News

Tata Motors has said it has started working on its gigafactory in Somerset in the UK, and the financial closure for the project is underway.

At the post-earnings concall, Tata Motors Group Chief Financial Officer P B Balaji said the company has seen some impact of the Red Sea crisis but “it is manageable at this point of time”.

Earlier in the day, Tata Motors posted a 133.2 per cent growth in net profit at Rs 7,100 crore in the December quarter, while the consolidated revenue rose 25 per cent year-on-year at Rs 1,10,600 crore.

“The site has been procured and we have already started the land-levelling work in that space,” Balaji said. Tata Motors had last year in July announced plans to set up a global battery cell gigafactory in the UK at an investment of over 4 billion pounds to help power the automotive sector’s transition to electric mobility.

“We are quite well advanced in terms of executing the plans on the ground there. Accordingly, financial closure for the project is also underway as we speak,” he said.

As far as the execution of the ground is concerned in the UK, “it is all systems green”, he added.

Balaji said there is some “degree of impact” of the Red Sea crisis, but, “I wouldn’t say there is no impact but having said that, we believe at this point in time, it is manageable and we are trying to ensure that we minimise any impact that may come.” “Rerouting is adding about 10-odd days in the portfolio and for specific lanes, the thick products, we are finding ways to navigate it,” he said.

On Electric Vehicle (EV) sales, he said the volumes have been increasing sequentially.

According to him, there is no cannibalisation happening between the EV and CNG segments.

“We do see strong growths coming through in CNG and EV part of a portfolio and that is expected to continue. And these are all incremental volumes,” he said.

Balaji also said that the company is targeting 25-30 per cent of the sales from EVs in FY25 and FY26.

ALSO READ-Tata Steel to shut two loss-making UK units

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Tata Steel to shut two loss-making UK units

The unions had pitched the idea to keep the blast furnaces working during the transition period, till 2032, The Guardian reported separately...reports Asian Lite News

Tata Steel will reportedly be shutting down its blast furnaces in Port Talbot Steelworks in Wales, United Kingdom, a move that may affect 3,000 jobs, BBC reported citing trade union officials. The company is expected to announce on January 18 whether it is planning to go ahead with the decision.

The decision was made after Tata executives met with the trade unions at the Taj Hotel in London earlier in the day. Tata Steel reportedly rejected a plan formulated by the trade union to keep its blast furnaces running while it made a gradual shift to an electric arc furnace to produce greener steel products to reduce carbon emissions.

The unions had pitched the idea to keep the blast furnaces working during the transition period, till 2032, The Guardian reported separately. In September last year, the UK government had announced a joint investment package with Tata Steel worth £1.25 billion, comprising a massive grant aimed at securing operations at the Port Talbot furnaces. Notably, the UK vertical of Tata Steel has proven to be a loss maker for the past few quarters now. The steelmaker reported a loss of Rs 6,511 crore in the July-September quarter of FY23-24 due to a massive impairment charge it paid, which ran in thousands of crores of rupees, in connection with the Port Talbot units. Tata Steel to shut Port Talbot blast furnaces in UK, about 2,800 jobs at risk  Tata Steel to shut Port Talbot blast furnaces in UK, about 2,800 jobs at risk If the Port Talbot furnaces are shut down, the one at Scunthorpe will remain the only blast furnace in the country. However, media reports suggest that it is also staring at a similar fate, and if this speculation holds, the UK will become the only G20 country that cannot produce steel from raw materials.

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Double Deals, Tata Dominates Day

After its first acquisition today, Tata Consumer Products swiftly announced a 100% stake purchase in Capital Foods, known for brands like Ching’s Secret and Smith & Jones, in a Rs 5,100 crore all-cash deal…reports Asian Lite News

In two back to back deals, Tata Consumer Products on Friday stated it will acquire up to 100 per cent stake in Organic India, a Fabindia-owned business that sells tea, infusions, herbal supplements and packaged foods, for Rs 1,900 crore in an all cash deal.

“The Board of Directors approved the acquisition of up to 100 per cent of the equity share capital of Organic India Private Ltd. The company, thereafter, has entered into a share purchase agreement (SPA) with Fabindia Ltd to acquire up to 100 per cent of the company’s equity share capital,” Tata Consumer Products said in an exchange filing.

The announcement came shortly after Tata Consumer Products’ first acquisition of the day, where it said it will buy 100 per cent stake in Capital Foods, which markets its products under Ching’s Secret and Smith & Jones brands, for Rs 5,100 crore in an all cash deal.

Estimated turnover of Organic India for FY24 is approximately Rs 360 to Rs 370 crore. In the last three fiscals, the company has seen a gradual decline in sales from Rs 394.8 crore in FY21 to Rs 324.4 crore in FY23.

The deal values the company at a little over five times its FY24 sales. Against FY23 sales, the company is valued at nearly six times its sales. Tata Consumer is valued at 12 times its FY23 sales and 11.5 times its FY24 (annualised) sales.

The Total Addressable Market (TAM) for the categories that Organic India is present in is Rs 7,000 crore in India and Rs 75,000 crores in international markets where Tata Consumer has a strong presence, the company said.

Fabindia, which said that its story began 60 years ago as a celebration of India, and the company remains committed to its core mission of bringing authentic Indian crafts to the discerning customer, said that over the past ten years, it has worked diligently to turn Organic India (OI) into one of India’s leading wellness brands.

Since the start of their partnership in 2013, Fabindia and OI have empowered thousands of farmers to transition to sustainable methods, and have built India’s largest network of certified organic farming clusters. OI has created a vertically integrated supply chain connecting farmers to a devoted customer base across the world, FabIndia said.

OI has evolved to a point where its growth prospects can be greatly enhanced by a dedicated FMCG distribution and sales network. In Tata Consumer Products Ltd (TCPL), we have found a partner who can elevate OI into a new phase of growth. With its extensive institutional network and global footprint, TCPL is ideally placed to unlock the full potential of what Fabindia and OI have built together.

OI co-founder Bharat Mitra said: “By the grace of our Sathguru, Papaji, and our great love for Mother India, we have been inspired to create a purpose-driven company that is uncompromisingly committed to the wellbeing of humanity and the earth. We were called from within our hearts to build a business model that transcended the tension between core human values and financial prosperity. Over 25 years, we created a thriving ecosystem that sought to harm none and benefit all—from mother nature, to the farmers and employees, to the customers and the wider public.”

“Ten years ago, we partnered with Fabindia, whose support made it possible to advance our dream further than we ever thought possible. We are now delighted that Tata, India’s most storied conglomerate, is embracing Organic India, and we are inspired by their commitment to carry its mission to new heights. It is a day of fulfillment, contentment, and gratitude. We will always remain in awe of what is possible when we trust in the intelligence of the heart.”

Sunil D’Souza, MD & CEO of Tata Consumer Products, said: “We are excited about bringing Organic India into Tata Consumer Products. This transaction aligns well with Tata Consumer’s overall strategic objectives and presents exciting market opportunities in the rapidly growing Health & Wellness segment. In addition, Organic India has built very strong relationships with farmers to create a robust organic supply chain with a trusted brand and a loyal consumer base. Organic India’s differentiated products and robust supply chain together with Tata Consumer’s distribution strength across channels in India and specific geographies globally makes us confident of accelerating momentum in the business while improving our margin profile.”

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Tata Unveils Chip Plant Plans

The company is also likely to commence the construction of a 20 gigawatts battery storage factory in Gujarat within the next few months….reports Asian Lite News

Tata Group on Wednesday announced plans to build a state-of-the-art semiconductor fabrication plant in Gujarat, as India begins the journey to become a global chip hub.

Tata Sons Chairman N. Chandrasekaran, speaking at the 10th Vibrant Gujarat Global Summit in Gandhinagar, said that Tata Group is on the verge of finalising and announcing a substantial semiconductor fabrication plant at Dholera in the state.

“We are about to complete negotiations for the semiconductor fab and start in 2024,” he told the gathering.

The company is also likely to commence the construction of a 20 gigawatts battery storage factory in Gujarat within the next few months.

“This ambitious initiative marks a strategic move by Tata to bolster its presence in the renewable energy sector and contribute to India’s growing focus on sustainable power solutions,” said Chandrasekaran.

The Tata Group is also planning to build one of India’s largest iPhone assembly plants in Tamil Nadu’s Hosur.

According to media reports, the facility is expected to feature around 20 assembly lines and employ 50,000 workers within two years. The site is expected to be operational within 12 to 18 months.

In September last year, US-based Micron Technology started the construction of a Rs 22,500 crore facility in Sanand, Gujarat, that will set a benchmark for India’s semiconductor journey.

The engineering major Larsen & Toubro (L&T) has also announced to invest up to Rs 830 crore to build a fabless semiconductor chip design subsidiary which will ramp up the country’s plan to become a semiconductor hub

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