Global headwinds, tech trends highlighted in CEOs' messages to teams

N Chandrasekaran, chairman, Tata Sons, started his letter describing 2024 as 'another unpredictable year'

Global headwinds, uncertainties in a “shifting world” where interdependencies shape economies, was a key theme in the letters India Inc captains wrote to their employees just before stepping into 2025.

 

N Chandrasekaran, chairman, Tata Sons, in fact, started his letter describing 2024 as “another unpredictable year”. In his opening remarks, Chandrasekaran said: “Globally, 2024 was defined by geopolitical instability and a slight brightening of the macro-economic outlook.” He underlined military conflicts in Ukraine, Gaza, and Sudan, and exacerbating humanitarian crises in Europe, West Asia, and Africa, as well as the citizen-led movements in Bangladesh and South Korea. “Tariffs are once again at the forefront of leaders’ minds,” Chandra wrote in his letter as he highlighted that political changes and disruptions continue to shape domestic and foreign policy, especially with regard to immigration, technology, and global trade.

 

Mahindra group Chairman Anand Mahindra too highlighted in his year-end message to his employees that globally, the last few years have been “full of shocks, changes and uncertainties”. Adding that 2024 was no exception, Mahindra said: “We are seeing a shifting world where interdependencies and a flat world may well be things of the past. International relations could become more and more transactional, driven strongly by national interest and national muscle-flexing.”

 

He, however, is confident that India is “well-positioned” to more than fend for itself. “India can enhance its economic potential by seizing the opportunity offered by shifting affinities and alliances to become a keystone in the global supply chain system. We will be less affected by capricious global winds than many other countries. In that context, our Group should have no dearth of opportunities for growth, both domestic and international,” he wrote.

 

Talking of seizing opportunities in this fast-changing world, Chandra highlighted that the Tata group plans to create 500,000 manufacturing jobs over the next five years as it scales operations across sectors, asserting that it was a new manufacturing “golden age” for India.

 

New Tech in focus for India Inc

 

A common focus area across sectors undoubtedly was technology. Chandra, for example, highlighted how advancements in technology are leading to scientific discoveries. “This year the Nobel Prize for chemistry went to developers of an AI model that predicts protein structures — a glimpse of how computational tools will revolutionise drug discovery. Previously, determining the 3D structure of a single protein typically took a year or more. Now AI tools can predict these shapes with remarkable accuracy in minutes,” he wrote.

 

AI can transform healthcare in other profound ways, not only enhancing how we understand and treat diseases but also how we diagnose them. Machine learning (ML) is being used more in environmental research, while large language models hold the potential to significantly expand access to clinical care. “We will continue to see significant acceleration in the use of AI in fields like healthcare and mobility,” Chandra felt.

 

Fortis Healthcare MD&CEO Ashutosh Raghuvanshi too highlighted how in the past year they have embraced significant technological advancements across 12 hospitals in their network, significantly enhancing operational efficiency and patient care.

 

“Acquiring state-of-the-art medical equipment has been a priority,” Raghuvanshi said, giving examples of key additions like South Asia’s first Gamma Knife Esprit ensemble and North India’s first MR Linac technology at Fortis Gurugram, as well as the Elekta Versa HD with SGRT at Fortis Mohali. 

 

Resilient financial performance in a fast-changing world

 

Mahindra shared milestones like M&M’s position as the top performer among NIFTY 50 companies since 2002, with the highest compounded annual share price growth rate.

 

“Amongst companies that were part of the NIFTY50 in 2002, M&M has had the highest compounded annual share price growth rate to date, and in just the past year, has soared 77 per cent,” he said. M&M has become the 11th most valuable automobile manufacturer in the world.

 

Alcoholic beverage maker Diageo India’s MD&CEO Hina Nagarajan said that 2024 was “extra special” at Diageo India as the company delivered a “resilient financial performance” despite a challenging macro environment. With brands like Johnnie Walker, Black Dog, etc. in the company’s portfolio, Nagarajan said she stands by their 25 years of “Keep Walking” brand philosophy.

 

Chandra also highlighted the group’s achievements of the year. “Big strategic bets, made with his (Ratan Tata’s) encouragement, are bearing fruit, particularly in hi-tech industries and manufacturing, where our footprint continues to expand,” he said.

 

Air India CEO Campbell Wilson said in his message that they look forward to working as a united team. “With Air India, Vistara, Air India Express, and Air Asia now under one roof, and all the uncertainties and challenges of merger receding into history, we must now look forward, as a united team, to a common destination. While that destination — of being a world-class, global airline group with an Indian heart — is clear, a culture of excellence, accountability, collaboration, mutual support and customer obsession will be the fuel to take us there. We will be working hard in 2025, with you, to embed this deeply into our DNA.”

 

(Inputs from Sohini Das, Deepak Patel, and Aneeka Chatterjee)