"We are in the process of formalising a successor to me. We have some outside consultants and a formal search process is on. There are no constraints," Tata, said in the interview.
"The successor could be from within the group or outside," Tata said, adding he hoped the person would carry on the growth path that had been set.
"It would certainly be easier if that candidate were an Indian national. But now that 65 percent of our revenues come from overseas, it could also be an expatriate sitting in that position with justification now," Tata said.
The company's website shows that Tata group's 98 operating companies have annual revenues of $71 billion and 357,000 employees
The group, founded in 1868, runs India's top vehicle maker, top software services firm, top private sector power producer and the world's eighth-largest steel maker by output.