The Tata Group is one of India’s largest multi-national conglomerate whose headquarters are in Mumbai, Maharashtra. Founded in the year 1868 by Jamsetji Tata, the company went on to gain international recognition after purchasing several global companies.
Tata is now India’s most valuable brand, followed very closely by Reliance and Airtel. According to a report, the value of the former has soared up by 37 percent to $19.5 billion in 2019, helping the Tata break into the top-100 in a global brands list.
The salt-to-software group which was ranked at 104 last year, has now been ranked at 86th in a list compiled by a London-based consultancy called Brand Finance, said the statement, adding that it is the only domestic brand in the global top-100.
Brand Finance’s chief executive officer, David Haigh mentioned, when he was quoted in a statement issued by the Tata group that, “The Tata group has seen a significantly impressive increase in brand value in the year 2019, and has been rewarded for the same by being the only Indian brand listed in the top 100 most valuable brands in the world.”
Tata Sons chairman, N Chandrasekaran, said in reaction to the recognition, “This recognition will not only encourage us to run our businesses in a socially responsible manner globally but also to continue to strive for excellence through innovation and entrepreneurship.”
The improvement in brand value has been aided largely by the performance of the group’s cash-cow Tata Consultancy Services, Haigh said. The statement further indicated that the brand value was also helped by the group’s automotive and steel companies as also the inclusion of a wider number of Tata group entities for computing the value.
Chandrasekaran also stated that he wants Tata companies to focus on providing customers with the best products and services while managing costs. “This means making more strategic decisions that will factor in both the ups and downs inherent in business cycles. We should be prudent during good times while creating an operating and capital structure that can see us through difficult periods.”
The chairman said he would continue to simplify the Tata Group’s structure. “In total, we committed about 70,000 crore INR to deleverage and to restructure the Tata companies, consolidate cross-holdings, acquire strategic assets and infuse much-needed capital for future growth.” In some areas, such as aerospace and defense, the group is trying to consolidate its businesses into a single entity. In other areas, the company will be reducing subsidiaries or exiting non-core businesses.
Meanwhile, Jaguar Land Rover (JLR), owned by Tata Motors, has announced plans to put brakes to production for a week at its UK plants in April due to Brexit-related disruption. Britain’s largest carmaker said that the temporary production stand-down would take place between April 8 & 12 and affect all three of Jaguar Land Rover’s UK car plants, as well as its engine plant.