India well placed, poised to be $5 trillion economy, assures Tata Sons Chairman Chandrasekaran
Mumbai, Oct 14: Chairman of Tata Sons Natarajan Chandrasekaran at the Lokmat Maharashtrian of the Year 2022 Awards, said India would become a $5 trillion economy. In his interaction with Rishi Darda, joint managing director and editorial director of Lokmat Media, Chandrasekaran, said, "Don't worry, India is extremely well-placed! All major economies including America, Europe nd Britain are in troubled waters today due to ballooning interest rates and unabated inflation."
"The clouds of uncertainty emerging from these economies are affecting all industries around the world. Therefore, the growth of the world economy will be stunted. Still, India's position is strong globally and India is extremely well-placed," asserted the chairman of Tata Sons.
Chandrasekaran further said, Maharashtra too is poised to reach the $one trillion mark and they are in constant touch with the state government.
On falling rupee, Chandrasekaran said, "It is true that the value of the rupee is depreciating against the US dollar, but the same is the case with other currencies. We cannot forget that rupee's performance is good compared to other major currencies around the world."
When quizzed about Air India and its future, Chandrasekaran said, the airlines is currently working on human resources, technology, maintenance, and safety. However, their primary aim is to create world's leading airline where Indians may fly everywhere.
Chandrasekaran's reply touched the very core of middle-class India, when asked, what special values were instilled in childhood that enabled the three brothers to achieve such great success. Speaking about his upbringing, Chandrasekaran said, his upbringing was very simple but he too scored 100 in maths.
In the concluding part, the chairman of Tata Sons exuded confidence that given the size of India's rural and urban economy, the strength of the 'consumer economy' and the 'growth' linked to the development of the infrastructure, which are country's strengths, India will emerge from the unsteady world market safely.
Before signing off, Chandrasekaran also opened up on the launch of 5G services, clearly stating that they have no intentions of entering the consumer market. It is worth recalling that Tata Group has taken the lead in the development of 5G, a new technology. Developed in India, the Tata Group is currently focusing on the development of the 6G technology after 5G, which has an Indian 'IP'. He said after the actual testing of this technology, which is open up for export from India.
The Tata Sons Chairman left the audience overwhelmed with his simplicity while speaking about his family and his childhood.
Chandrasekaran during his interaction also shared a light moment, with Piyush Bansal founder of Lenskart. Bansal said, "You have single-handedly built a huge company like Tata Consultancy Services what can I do?" It was a fanboy moment for Piyush who looked like a disciple looking to learn from his guru.