Tata Group plans to create 500,000 jobs in 5 years
Tata Group, led by Chairman N Chandrasekaran, has announced ambitious plans to create half a million jobs over the next five years. The new job opportunities will be distributed across sectors such as semiconductors, electric vehicles (EVs), solar equipment, and other critical hardware industries. The move comes as part of Tata's strategy to bolster its presence in these key areas and contribute to India's economic growth.
Tata Group's current workforce and future expansion
Currently, Tata Group employs over a million people, with Tata Consultancy Services (TCS) making up 60% of the workforce. Tata Steel comes next with a headcount of 78,321. The new job opportunities won't just be in hardware industries but will also go into fields such as retail, technology services, aviation, and hospitality. Chandrasekaran said he was excited about the convergence of economic opportunity and social progress in AI and manufacturing.
Tata Group's new manufacturing facilities and market performance
Tata Group recently started building over seven new manufacturing facilities. These include India's first semiconductor fab in Dholera, Gujarat, and a semiconductor plant in Assam. The group's combined revenue for FY24 crossed $165 billion with a net profit exceeding the $10 billion mark. As of December 26, 2024, there are 26 companies on the bourses with a combined market cap of $373 billion.
Chandrasekaran pays tribute to Ratan Tata
In his year-end note, Chandrasekaran paid a heartfelt tribute to Ratan Tata, saying, "Our Group has lost an irreplaceable role model and leader. And I have lost a cherished mentor and friend." He also emphasized the company's commitment to India's future and claimed AI-led breakthroughs in healthcare and mobility can help humanity as a whole. The chairman ended his message with an optimistic outlook for the coming year.
