New Delhi, June 12 – In the wake of the tragic Air India plane crash near Ahmedabad that claimed the lives of all 242 people on board, Tata Group Chairman N. Chandrasekaran has announced a compensation of Rs 1 crore for the family of each deceased passenger.

The Air India Dreamliner, operating as flight AI171 from Ahmedabad to London, crashed shortly after takeoff on Thursday afternoon, leaving the nation in shock. Among the victims were passengers from India, the UK, Canada, and Portugal, including prominent figures such as former Gujarat Chief Minister Vijay Rupani.

Expressing profound grief over the incident, Chandrasekaran stated that words could not adequately convey the sorrow felt by the company. As per agency report, he confirmed that the Tata Group will extend financial support of Rs 1 crore to the next of kin of each deceased passenger.

In an official message posted on social media platform X, the Tata Group also assured that it will cover the full medical expenses of all injured survivors, ensuring they receive comprehensive treatment and support.

Further, Chandrasekaran announced that the group will contribute to the reconstruction of the BJ Medical College hostel, which was damaged in the crash. He emphasized that the Tata Group stands firmly with all affected families and communities during this unimaginable tragedy.

Gandhinagar, March 5 – Tata Electronics has announced plans to set up a display manufacturing unit in Gujarat in collaboration with Taiwan-based PSMC and Himax Technologies. The announcement was made by Tata Electronics CEO Randhir Thakur during the IESA Vision Summit, where a tripartite agreement was signed with the Gujarat government.

According to agency reports, Thakur expressed his enthusiasm for the partnership, emphasizing that this venture aims to revolutionize India’s display product and technology ecosystem. He stated that with PSMC’s technology, Tata Electronics will manufacture display chips for Himax at its upcoming facility in Dholera, Gujarat.

With this move, Tata Electronics is set to establish a presence in all three major semiconductor manufacturing segments. The company is already in the process of setting up a semiconductor fabrication plant in Gujarat with an investment of approximately ₹91,000 crore. Additionally, it is investing ₹27,000 crore to establish a chip manufacturing facility in Assam.

The new display manufacturing unit marks a significant step in India’s growing semiconductor industry and aligns with the government's vision of strengthening the country’s electronics manufacturing capabilities.

Mumbai, October 11: Following the passing of Ratan Tata, Noel Tata has been unanimously chosen as the new chairman of Tata Trusts. The decision was made during a meeting held in Mumbai on Friday, marking a significant leadership transition within the Tata Group.

Official sources have confirmed that Noel Tata, the half-brother of the late Ratan Tata, has been unanimously selected to chair the Tata Trusts. These trusts hold a controlling stake in Tata Sons, the primary holding company of the Tata Group.

Noel Tata is currently the chairman of several group companies, including Tata International Limited, Voltas Limited, and Tata Investment Corporation Limited. He also serves as the vice-chairman of Titan Company. Given his deep family ties and involvement in multiple Tata Group companies, Noel was seen as a strong candidate to continue the Tata legacy.

Already serving as a trustee of the Sir Dorabji Tata Trust and the Sir Ratan Tata Trust, which hold significant stakes in Tata Sons, Noel Tata was well-positioned for this leadership role. These trusts collectively control 66% of Tata Sons, the core holding company of the $130 billion Tata Group, managing diverse sectors ranging from automobiles to aviation.

Noel Tata's appointment follows the passing of 86-year-old Ratan Tata, who served as the honorary chairman of Tata Sons and headed Tata Trusts. Tata Trusts is managed by a board of 13 trustees and is considered one of India's foremost charitable institutions.

It is noteworthy that Tata Trusts play a pivotal role in the governance of the Tata Group, controlling a 66% stake in Tata Sons. Through their philanthropic initiatives, these trusts donated approximately ₹456.42 crore (about $56 million) during the fiscal year 2022-23.

Mumbai, Jan 12 (IANS) In two back to back deals, Tata Consumer Products on Friday stated it will acquire up to 100 per cent stake in Organic India, a Fabindia-owned business that sells tea, infusions, herbal supplements and packaged foods, for Rs 1,900 crore in an all cash deal.

"The Board of Directors approved the acquisition of up to 100 per cent of the equity share capital of Organic India Private Ltd. The company, thereafter, has entered into a share purchase agreement (SPA) with Fabindia Ltd to acquire up to 100 per cent of the company's equity share capital," Tata Consumer Products said in an exchange filing.

The announcement came shortly after Tata Consumer Products' first acquisition of the day, where it said it will buy 100 per cent stake in Capital Foods, which markets its products under Ching's Secret and Smith & Jones brands, for Rs 5,100 crore in an all cash deal.

Estimated turnover of Organic India for FY24 is approximately Rs 360 to Rs 370 crore. In the last three fiscals, the company has seen a gradual decline in sales from Rs 394.8 crore in FY21 to Rs 324.4 crore in FY23.

The deal values the company at a little over five times its FY24 sales. Against FY23 sales, the company is valued at nearly six times its sales. Tata Consumer is valued at 12 times its FY23 sales and 11.5 times its FY24 (annualised) sales.

The Total Addressable Market (TAM) for the categories that Organic India is present in is Rs 7,000 crore in India and Rs 75,000 crores in international markets where Tata Consumer has a strong presence, the company said.

Fabindia, which said that its story began 60 years ago as a celebration of India, and the company remains committed to its core mission of bringing authentic Indian crafts to the discerning customer, said that over the past ten years, it has worked diligently to turn Organic India (OI) into one of India’s leading wellness brands.

Since the start of their partnership in 2013, Fabindia and OI have empowered thousands of farmers to transition to sustainable methods, and have built India’s largest network of certified organic farming clusters. OI has created a vertically integrated supply chain connecting farmers to a devoted customer base across the world, FabIndia said.

OI has evolved to a point where its growth prospects can be greatly enhanced by a dedicated FMCG distribution and sales network. In Tata Consumer Products Ltd (TCPL), we have found a partner who can elevate OI into a new phase of growth. With its extensive institutional network and global footprint, TCPL is ideally placed to unlock the full potential of what Fabindia and OI have built together.

OI co-founder Bharat Mitra said: "By the grace of our Sathguru, Papaji, and our great love for Mother India, we have been inspired to create a purpose-driven company that is uncompromisingly committed to the wellbeing of humanity and the earth. We were called from within our hearts to build a business model that transcended the tension between core human values and financial prosperity. Over 25 years, we created a thriving ecosystem that sought to harm none and benefit all—from mother nature, to the farmers and employees, to the customers and the wider public."

"Ten years ago, we partnered with Fabindia, whose support made it possible to advance our dream further than we ever thought possible. We are now delighted that Tata, India’s most storied conglomerate, is embracing Organic India, and we are inspired by their commitment to carry its mission to new heights. It is a day of fulfillment, contentment, and gratitude. We will always remain in awe of what is possible when we trust in the intelligence of the heart."

Sunil D’Souza, MD & CEO of Tata Consumer Products, said: "We are excited about bringing Organic India into Tata Consumer Products. This transaction aligns well with Tata Consumer’s overall strategic objectives and presents exciting market opportunities in the rapidly growing Health & Wellness segment. In addition, Organic India has built very strong relationships with farmers to create a robust organic supply chain with a trusted brand and a loyal consumer base. Organic India’s differentiated products and robust supply chain together with Tata Consumer’s distribution strength across channels in India and specific geographies globally makes us confident of accelerating momentum in the business while improving our margin profile."

Ahmedabad, Jan 11 (IANS) Union Minister for Electronics and Information Technology, Ashwini Vaishnaw, announced on Thursday that the Tata Group's upcoming investment in semiconductor fabrication in Gujarat is set to be substantial.

This announcement was made during the biennial Vibrant Gujarat Global Summit 2024.

The investment, considered a step in India's technology sector, is poised to cover a broad spectrum of opportunities, ranging from semiconductor fabrication to Outsourced Semiconductor Assembly and Test (OSAT).

The proposed semiconductor chips manufacturing factory in Dholera is expected to be a financial undertaking for the Tata Group.

"We've made considerable progress, and soon, we'll present it to the Cabinet for approval. Construction will commence following the approval," Vaishnaw stated. The Union Cabinet's green light is necessary for the project to proceed.

Vaishnaw also mentioned that the Tata Group plans to collaborate with a technical partner for this project, but details regarding the partner and the investment specifics remain under wraps.

In addition, Vaishnaw emphasised the foundational nature of a semiconductor fab, highlighting its potential for creating a multiplier effect in the industry.

In a related development, Vaishnaw shared that Simmtech, a South Korean company associated with the semiconductor industry, has committed to investing Rs 1,250 crore for a new factory in Sanand, Gujarat.

This project, supported by a government subsidy, will be situated on a 30-acre land parcel provided by Gujarat.

New Delhi, Jan 10 (IANS) Tata Group on Wednesday announced plans to build a state-of-the-art semiconductor fabrication plant in Gujarat, as India begins the journey to become a global chip hub.

Tata Sons Chairman N. Chandrasekaran, speaking at the 10th Vibrant Gujarat Global Summit in Gandhinagar, said that Tata Group is on the verge of finalising and announcing a substantial semiconductor fabrication plant at Dholera in the state.

"We are about to complete negotiations for the semiconductor fab and start in 2024," he told the gathering.

The company is also likely to commence the construction of a 20 gigawatts battery storage factory in Gujarat within the next few months.

“This ambitious initiative marks a strategic move by Tata to bolster its presence in the renewable energy sector and contribute to India's growing focus on sustainable power solutions," said Chandrasekaran.

The Tata Group is also planning to build one of India's largest iPhone assembly plants in Tamil Nadu's Hosur.

According to media reports, the facility is expected to feature around 20 assembly lines and employ 50,000 workers within two years. The site is expected to be operational within 12 to 18 months.

In September last year, US-based Micron Technology started the construction of a Rs 22,500 crore facility in Sanand, Gujarat, that will set a benchmark for India’s semiconductor journey.

The engineering major Larsen & Toubro (L&T) has also announced to invest up to Rs 830 crore to build a fabless semiconductor chip design subsidiary which will ramp up the country's plan to become a semiconductor hub.

Ahmedabad (Gujarat) [India], December 19: In the journey of life, weddings stand as timeless chapters, weaving together love, commitment, and the promise of a beautiful journey ahead. Tanishq, India’s largest jewellery retail brand from the house of Tataknown for its commitment to quality and unparalleled designs, has been an integral part of these cherished narratives. Presenting its revamped ‘Gold Exchange Policy’ catering to the upcoming wedding season, Tanishq reaffirms its commitment to trust, transparency, and unparalleled value for brides in today’s ever-evolving market. 

Every passing hour, more than 100 individuals warmly embrace Tanishq’s Exchange community. With over 35 lakh weddings scheduled in the forthcoming months, Tanishq’s ‘Gold Exchange Program’ promises customers the optimal value for their gold assets. This policy offers a gateway to transform old gold into exquisite new designs by Tanishq, perfect for adorning on one’s significant day. Customers can avail 100%* value on old gold purchased from any jeweller in India of 22KT and above. Moreover, amidst prevailing gold rates, brides can effortlessly acquire stunning new designs by simply exchanging their old gold, requiring no additional payment. This seamless process not only offers exquisite new jewellery but also provides a savvy solution to navigate through the current market dynamics.

An offer that awaits you all-year-round, Tanishq’s Exchange Program, crafted with your concerns in mind, unfolding like a treasure trove of possibilities

Tanishq’s commitment extends beyond merely providing jewellery; it intertwines with each bride’s unique journey. Rivaah by Tanishq; a wedding exclusive sub-brand caters to meticulously crafted collections, stands as the preferred choice for brides across India. The bridal trousseau range from Rivaah is skillfully crafted to be a reflection of the rich, timeless traditions that adorn the brides and make them feel cherished on their special day. To cater to the growing demand in the wedding segment, Tanishq caters to a wide range of signature designs across vibrant colour stones, dazzling gold, shining diamonds, exquisite polki, and precious kundan jewellery perfectfor every wedding occasion fromhaldi, mehendi, sangeet, to the most precious Wedding day. 

As a customer-centric endeavor, Rivaah by Tanishq also launched‘Real Brides’ campaign in 2022. This initiative features real brides of India who chose Tanishq to be a part of their extraordinary day. Tailored to forge a deeper customer connection, this bespoke initiativemakes a chosen few customers from different walks of life as the face of Tanishq in various cities. The campaign shines a spotlight on Tanishq’s thoughtfully curated designs for 

brides hailing from different regions across India, honoring them as the esteemed Rivaah Brides. Participants were given the opportunity to walk the ramp, reliving a cherished memory from their special day, this time as a Rivaah Bride.

 Exchange of gold not only fosters national recycling over imports but also champions planet-friendly practices by advocating recycling over mining—a sustainable, environmentally conscious choice that echoes Tanishq’s commitment to preserving our planet’s resources.

Speaking on the initiative, Vishal Vyas, Regional Business Manager, West, Tanishq, said, “We understand that jewellery is a quintessential part of traditional weddings in India and we see great potential in this category. Rivaah by Tanishq through its extensive assortment of wedding jewellery, caters to brides from across India. We take pride in jewellery from Rivaah by Tanishq being the customer’s preferred choice on the most important day of her life. Customers can now get the best value on their old gold along with exquisite craftsmanship, and a transparent exchange process to gear up for the wedding season.”

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New Delhi, Dec 8 (IANS) Bharat Petroleum Corporation Limited (BPCL) and Tata Passenger Electric Mobility Limited (TPEM) have signed an MoU for a collaboration to set up 7,000 charging points for electric vehicles at the oil company's petrol pumps.

"The agreement aims to leverage BPCL's widespread fuel stations network and TPEM's insights from Tata EVs on the roads, to set up chargers at locations frequently visited by Tata EV owners. Additionally, BPCL will gather insights on charger usage to improve customer experience," BPCL said.

This agreement between TPEM and BPCL aims to improve the overall experience for Tata EV owners and the two companies are also exploring the possibility of introducing a convenient payment system through a co-branded RFID card, making payment easier for Tata EV users and encourage more people to adopt electric vehicles in the country, the statement added.

BPCL has a nationwide network of over 21,000 Fuel Stations and is committed to a sustainable future by amalgamating strategy, investments, and environmental goals.

Over the next year, BPCL aims to install electric vehicle charging stations at approximately 7,000 energy stations, the oil marketing company said.

To alleviate electric vehicle owners' range concerns, BPCL has initiated over 90 Electric Vehicle Fast Charging Highway Corridors across the nation, ensuring a fast-charging station approximately every 100 km on both sides of major highways.

These corridors span more than 30,000 km across various highways, assuring enhanced EV convenience and accessibility, the statement added.

New Delhi, Nov 30 (IANS) Tata Technologies, which had a bumper listing on Thursday, recorded the seventh-highest listing day gains, said Vaibhav Vidwani, Research Analyst at Bonanza Portfolio.

Tata Technologies had a listing gain of 168 per cent on Thursday.

The highest listing day gain was recorded by Burnpur Cement in 2008 at 286 per cent. This was followed by Sigachi Industries with a listing day gain of 270 per cent in November 2021. Allied Computers International had a listing day gain of 214 per cent in 2007, he said.

Paras Defence and Space Technologies had a listing day gain of 185 per cent in October 2021, while Religare Enterprises had a listing day gain of 182 per cent in 2007. Vishal Retail had a listing day gain of 179 per cent in 2008.

Tata Technologies stock, which started trading at a premium of 140 per cent, has risen 168 per cent from its issue price to Rs 1,334 on the BSE. This placed it seventh among the equities with the biggest listing day gains, said Vidwani.

Bumper listing was seen in Tata Technologies and Gandhar Oil IPO, while Fedbank Financials saw a subdued listing. Tata Technolgies and Gandhar both listed at a premium of 1.4x and 76 per cent, respectively, said Siddhartha Khemka, Head of Retail Research at Motilal Oswal Financial Services.

Defence stocks were in action on Thursday after the Defence Acquision Council (DAC) approved the purchase of 97 Tejas aircraft and 156 Prachanda helicopters, according to media reports.

New Delhi, Oct 31 (IANS) The $125 million Tata-Wistron deal, announced soon after Prime Minister Narendra Modi opened the ‘India Mobile Congress 2023’ in New Delhi on October 27, will make Tatas the first Indian company to make iconic Apple iPhones in India.

According to industry experts, the announcement marks a pivotal milestone in manufacturing within India as it is seen as enhancing India’s pre-eminent position as the world's second-largest smartphone maker.

A slew of initiatives by the government will fuel the growth of manufacturing facilities with its Production Linked Incentive (PLI) scheme for smartphone production allowing Indian companies to compete with global electronics makers based in China. 

Industry analysts have welcomed the move. 

“In the long term, this could mean India finally having a fundamentally strong player in electronics value chain which can fast forward the journey of ‘Making in India’ to next levels by significantly increasing the domestic value addition,” said Faisal Kawoosa, Chief Analyst, Techarc, a research firm tracking technology ecosystem.

 At present, the domestic value addition for smartphones is hovering in the range of 18-24 per cent.

“Tata is now strongly positioned to take a solutions approach for designing, developing and manufacturing electronics products in India” Kawoosa added. 

The Tata announcement underlines its strategic approach in opting to acquire an operational facility from Wistron.

 “As it moves forward, expansion of its Narasapura manufacturing facility near Bengaluru can move at a fast clip as several Indian manufacturers that helped supply machinery can be brought on board, with little dependence on global supply chains,” said another industry analyst.

Currently, iPhone 15 Plus, iPhone 12 and iPhone SE (second generation) are being manufactured/ assembled at Wistron's factory in Karnataka, which Tatas will take over.

The much-awaited deal has been finalised after strategic considerations in response to the reshaping of the group's product strategy and global manufacturing layout.

Tarun Pathak, Research Director at Counterpoint, told IANS that Tatas' semiconductor ambitions are serious and came at a very important juncture amid India's digital goals.

"First, they can leverage the semiconductor strength in their EV business and second, their chips can be aligned with Apple in the future and the learning curve will be great for them," Pathak said.

The ‘Make in India’ initiative in technology space shot into global prominence with Indian Space Research Organisation (ISRO) stressing that it got the bulk of its components for its successful Chandrayaan-3 mission from firms like L&T, Godrej as well as much smaller tech manufacturers and research laboratories from academic institutions. 

Indian academic institutions like South India-based Periyar University and Sona College of Technology have played a vital role in designing critical components for India’s space mission.

Technology firm Vee Technologies, that created critical magnetic stepper motors for Chandrayaan-3 lift off, supplied critical modular anti-static mobile charging assembly units to Wistron for testing mobiles.

Vee Technologies provides precision engineering services for the defence, space, and automotive industries in India. 

Recently technology firm VVDN landed a high-end server contract, Dixon expanded Xiaomi smartphone production, and Corning began display glass finishing in India -- all examples of success of the Make in India initiative. 

A groundbreaking deal between GE and Hindustan Aeronautics Limited (HAL) struck during Modi’s US visit in June 2023, featuring extensive technology transfer and jet engine manufacturing in India, strengthens India's 'Make in India' narrative.

Minister of State for Electronics and IT, Rajeev Chandrasekhar, emphasized the pivotal role of contract manufacturers in creating value, generating employment, and contributing to the economy. As these manufacturers scale up, they will attract component suppliers, potentially establishing ancillary factories in India.

According to experts, India stands out as a potential hub for production amidst escalating US-China tensions, owing to its substantial internal market and skilled labour force.

New Delhi, Oct 27 (IANS) With Taiwanese electronics manufacturer Wistron selling its India operations to Tata Group for $125 million, Tata Electronics is going to become the first Indian company to manufacture new Apple iPhones in the country, which is a major fillip to the government’s ‘Make in India’ initiative.

Currently, iPhone 15 Plus, iPhone 12 and iPhone SE (second generation) are being manufactured/ assembled at Wistron's factory in Karnataka, which Tatas will take over.

The company said in its regulatory filing that it will sell a 100 per cent stake in the unit Wistron InfoComm Manufacturing (India) Pvt. to Tata Electronics Pvt., following the board approval.

The much-awaited deal has been finalised after strategic considerations in response to the reshaping of the group's product strategy and global manufacturing layout.

Minister of State for Electronics and IT, Rajeev Chandrasekhar, said that within just two and a half years, Tata Group will start making iPhones from India for domestic and global markets.

"PM Narendra Modi’s visionary PLI scheme has already propelled India into becoming a trusted and major hub for smartphone manufacturing and exports. Congratulations to the Tata team for taking over Wistron operations," the minister posted on X.

He said that this is a "great going for Apple in building a global supply chain from India with Indian companies at its helm".

"MeitY stands fully in support in growth of global Indian electronics companies that will, in turn, support global electronic brands that want to make India their trusted manufacturing and talent partner," Chandrasekhar added.

Industry experts said that with their ambition on semiconductors and EVs, it only makes sense for the Tata Group to gain expertise in manufacturing high-end iPhones in the country.

"With the Wistron acquisition, Tata Group will get a leg-up on its electronics manufacturing ambitions with the iPhones, and the possibility of manufacturing top-end iPhone models as well in the near future. We anticipate ‘Make in India’ to gain further momentum, and India to emerge as a major fulcrum in the global electronics value chain," Prabhu Ram, Head–Industry Intelligence Group, CMR, told IANS.

In the years ahead, the Tata Group has the potential to solidify their position as a pivotal player in the iPhone manufacturing ecosystem.

Wistron's factory in Karnataka, that employs about 12,000 people, constitutes a major chunk of its business in the country.

As the iPhone consumption increases in the country, Apple needs more suppliers to ramp up production here, as it reportedly aims to take away a significant chunk of manufacturing from China to countries like India and Vietnam.

Driven by domestic manufacturing, Apple iPhones are set to garner 7 per cent market share in the Android-dominated smartphone market in India this year, according to latest data.

Apple iPhone shipments grew 68 per cent (year-on-year) in the first half of this year in the country.

CMR estimates the iPhone 15 shipments in the launch quarter (October-December period) to hover around 65 per cent, driven by an increased ‘Make in India’ initiative.

For the first time, ‘Make in India’ iPhone 15 units were exported to other countries within a short span of time from its global launch last month.

Apple received tremendous response to the iPhone 15 series in the country -- nearly 50 per cent more from last year.

Apple had set a June quarter record in India, driven by the robust sales of iPhones, according to CEO Tim Cook.

Tarun Pathak, Research Director at Counterpoint, told IANS that Tatas' semiconductor ambitions are serious and came at a very important juncture amid India's digital goals.

"First, they can leverage the semiconductor strength in their EV business and second, their chips can be aligned with Apple in the future and the learning curve will be great for them," Pathak told IANS.

India is now the second-biggest manufacturing hub for mobile phones due to heavy investment from original equipment manufacturers, original design manufacturers and companies dealing in components and parts, according to Counterpoint.

The country saw mobile phone exports worth $5.5 billion (over Rs 45,000 crore) in the April-August period in the current fiscal year (FY24), government and industry data showed.

As per the estimates by the Department of Commerce and the India Cellular and Electronics Association (ICEA), the April-August period saw mobile phone exports worth $5.5 billion, against $3 billion (about Rs 25,000 crore) in the same period in FY22-23.

India is set to cross Rs 1,20,000 crore in mobile phone exports in the current fiscal year, with Apple leading the market with more than 50 per cent in FY24.

Tata Consumer Products Ltd announced on Friday that it has ceased negotiations with Bisleri International Pvt Ltd, India's largest packaged water company, concerning a potential transaction. According to a stock exchange filing, no definitive agreement or binding commitment has been made on this matter.

Tata Consumer previously stated that it continuously evaluates various strategic opportunities for growth and expansion, including discussions with parties like Bisleri International. In November, the Economic Times reported that Ramesh Chauhan was divesting Bisleri International to Tata Consumer Products Ltd for an estimated Rs 6,000-7,000 crore. As part of the deal, the current management would continue for two years.

Chauhan, 82, who has been in indifferent health and without a successor for Bisleri, expressed his preference for the Tata Group due to its culture of values and integrity, despite other interested buyers. However, he still described selling Bisleri as a "painful" decision.