There is a “huge opportunity” in India, the Tata Group chairman said, adding that the fear of private sector not coming to India is unfounded.

Tata Group has a capital expenditure commitment of $90 billion in India, over the next five years, said N Chandrasekaran, chairman of the salt-to-software conglomerate, during a panel discussion at the World Economic Forum (WEF) in Davos on January 18.

Chandrasekaran said “consumption has been strong” in the country, and the pattern has been seen not only in urban areas but also in rural regions.

Tata Group has been seeing strong growth for the past few years, he pointed out. “Last year, we delivered a growth of 25 percent on a group-wide basis. This year, in all likelihood, we are expecting a 22-23 percent growth,” he said, in the panel discussion moderated by CNBC TV-18.

Chandrasekaran added that Tata Group has a “huge capex outlay”, spread between businesses such as steel, auto, electric vehicles, renewable energy, batteries, and electronics, among others. “Our capital commitment for the next five years is $90 billion.”

‘India uniquely positioned’

According to Chandrasekaran, India is “uniquely positioned” amidst the transitions that are shaping businesses across the world.

https://www.moneycontrol.com/news/business/davos-2023-tata-groups-capex-commitment-in-india-for-next-5-years-is-90-billion-n-chandrasekaran-9888991.html/amp