Modi government’s ‘Make in India’ initiative likely got
the backing from Cyrus Mistry, chairman, Tata Group as he highlighted it in his
New Year letter to over six lakh Tata Group employees besides highlighting the
challenges that the conglomerate faces.
“Recent policy measures and strategic direction
defined by the new government, especially it ambitious Make in India campaign
hold the promise of re-igniting growth in the years to come,” says Mistry.
Mistry, the new chairman who completed his second
year as group head, has laid out a long-term growth strategy plan called Vision
2025. In the letter he says that emerging technologies in the digital and
physical space are transforming businesses at a pace never seen before.
“We must deepen our understanding in several areas
such as digitisation and big data analytics, and develop an innovation and
technology road map to effectively serve evolving customer needs,” he said in
the letter. He further emphasised on the need to collaborate and learn as the
challenging economic and competitive pressure is putting pressure on profit
margins.
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