Tata Group Chairman Cyrus Mistry on Wednesday said the Narendra Modi government’s ‘Make in India’ campaign holds the “promise of reigniting growth in the years to come”.
“Amidst a complex and unpredictable geopolitical environment, we find that new opportunities have emerged, but equally, several challenges persist. In India, recent policy measure and strategic direction defined by the government, especially its ambitious ‘Make in India’ campaign, hold the promise of reigniting growth in the years to come,” he said in his New Year message to the employees of the group.
“Globally, major markets seem to be on two different growth tracks. Some countries, such as the U.S. and the U.K., continue to show signs of recovery and growth.
“On the other hand, the large economies of China and Europe fell short of growth expectations. This has led to a fall in global commodity markets, which offers both challenges and opportunities.”
“The customers and the markets we know are evolving. Today, emerging technologies in the digital and physical space are transforming business 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 roadmap to effectively serve evolving customer needs.”
In his letter to nearly 5.82 lakh employees, Mr. Mistry said that “keeping with our pioneering spirit that is core to the group, we look to continue to invest in R&D and in the development of new technologies, which will become an integral part of our companies’ strategies”.
