'Rising manufacturing share may help India weather slowing global growth' - Economic Times

India is well positioned to continue being the fastest growing major economy, supported by increasing consumption, consumer confidence and investment. While slowing global growth may act as a drag on output, the country's rising share of global manufacturing should provide some buffer and insulation, N Chandrasekaran chairman Tata Sons in a year-end message to employees.

"Barring the pandemic and the global financial crisis, next year may mark the lowest global growth since the millennium began. We will need to keep careful watch on commodity price rises, in particular. However, the global environment has several risk factors, including the energy crisis in Europe, the battle to contain inflation to avoid recession, and ongoing geopolitical conflicts," he said.

The Tata group has launched new initiatives to participate in global supply chains, and as part of the focus on sustainability, has devised a group-wide project - "Aalingana" (Embrace). "Our approach encompasses three interconnected pillars: reducing emissions to reach net zero by 2045; pioneering circular economies through sharing, reusing and recycling; and preserving and restoring nature and biodiversity," he said.

Business momentum has been strong for many of Group companies which noted significant milestones, including getting Air India back to the group; the launch of Tata Neu; and sales of Tata Motors passenger vehicles crossing 500,000 in a year and Tata EV cars accounting for 10%, he said. "There has been a good improvement and a strong performance of companies across the Group.Our success came from our relentless drive to lead, the remarkable dedication and talent we nurture. In each of our segments, we are continuing to make progress and raising the bar, be it in terms of performance, customer experience, quality, sustainability or innovation," he stated.

Adblock test (Why?)

Read Again https://news.google.com/__i/rss/rd/articles/CBMikAFodHRwczovL2Vjb25vbWljdGltZXMuaW5kaWF0aW1lcy5jb20vbmV3cy9pbmRpYS9yaXNpbmctbWFudWZhY3R1cmluZy1zaGFyZS1tYXktaGVscC1pbmRpYS13ZWF0aGVyLXNsb3dpbmctZ2xvYmFsLWdyb3d0aC9hcnRpY2xlc2hvdy85NjUyNjU5MC5jbXPSAYsBaHR0cHM6Ly9tLmVjb25vbWljdGltZXMuY29tL25ld3MvaW5kaWEvcmlzaW5nLW1hbnVmYWN0dXJpbmctc2hhcmUtbWF5LWhlbHAtaW5kaWEtd2VhdGhlci1zbG93aW5nLWdsb2JhbC1ncm93dGgvYW1wX2FydGljbGVzaG93Lzk2NTI2NTkwLmNtcw?oc=5

Bagikan Berita Ini