Talking about the Tata group, Chandrasekaran said the business momentum has been strong for many of the group companies.

India is well-positioned and will continue to be the fastest-growing major economy despite global headwinds such as the energy crisis in Europe and geopolitical conflicts, according to Tata Sons chairman N Chandrasekaran.

“Barring the pandemic and global financial crisis, next year may mark the lowest global growth since the millennium began. We will need to keep careful watch on commodity price rises in particular,” Chandrasekaran said in his year-end message to employees.

The global environment has several risk factors, which also include the battle to contain inflation to avoid recession, apart from the energy crisis and geopolitical conflicts, he said, adding inflation will gradually moderate in 2023.

However, supported by increasing consumption, consumer confidence and investment, India will continue to be the fastest-growing major economy. Slowing global growth may act as a drag on output, but the country’s rising share of global manufacturing should provide some buffer and insulation.

“As I have emphasised many times, India is well-placed,” the Tata Sons’ chairman said.

Talking about the Tata group, Chandrasekaran said the business momentum has been strong for many of the group companies.

“We have experienced significant milestones during the year. These include welcoming Air India back into the group, the launch of Tata Neu and Tata Motors’ passenger vehicle numbers crossing 500,000 cars sold within a calendar year, with Tata EV cars accounting for 10%.”

The Tata group also has tremendous opportunities in the midst of global transitions towards artificial intelligence and machine learning, sustainability and diversified supply chains.

Also read: Piyush Goyal urges large steel players to support MSME manufacturers, exporters

“As you are aware, we have launched new initiatives to participate in global supply chains. On sustainability, we have devised a group-wide project — ‘Aalingana’ (embrace). Our approach encompasses three interconnected pillars: Reducing emissions to reach net zero by 2045, pioneering circular economies through sharing, reusing and recycling, and preserving and restoring nature and biodiversity.”

“We are excited to accelerate this journey during 2023,” he added.

https://www.financialexpress.com/economy/india-will-continue-to-be-fastest-growing-major-economy-chandra/2927238/