Tata group plans expansion

The Tata group will invest more than Rs 45,000 crore on various businesses over next two years and would look to expand its presence in global markets besides in India, the group’s new chief Cyrus P Mistry said.
In his first message as chairman of Tata Sons, the holding company of over $100-billion salt-to-software conglomerate, Mistry also said the “core of the Tata group” will remain unchanged despite change in its leadership and asked the group companies to play leadership roles in their respective businesses. Mistry, 44, has taken over as head of Tata group from Ratan Tata, who retired on December 28 after spending nearly 50 years with the group, including 21 years as Chairman.
In a message to employees, Mistry said the group has evolved into a global conglomerate with an “incredible” size of over $100 billion under Ratan Tata’s leadership. “Handing over of the responsibility of chairmanship brings with it the winds of change, but the core of the Tata Group must and will remain unchanged,” the new chief said.