Steel major Tata Steel today observed the 177th birth anniversary of its founder Jamsetji N Tata in the steel city of Jamshedpur here today.
Chairman Cyrus Mistry and Managing Director (India and South East Asia) T V Narendran, among the host of senior officials of the company as well as its associated companies, paid floral tribute to the doyen of India industry at the company works to mark the occasion.
Speaking on the occasion, Mistry said the flourishing city of Jamshedpur stands testament to the vision of the Founder which went far beyond the pioneering organisations he started.
"Inspired by him, we have charted new courses and taken on new challenges, while keeping the best interest of all our stakeholders at heart," he said.
Mistry said he sees Tata Steel as an illustration of the group's future potential. The modernization investments here, and the expansion in Kalinganagar will propel Tata Steel's sustained leadership of the steel industry.
"Similarly, in other established Tata businesses, we continue to invest for the future. At the recent Auto Expo, Tata Motors unveiled a very exciting pipeline of products," Mistry said, adding that at the same time, today's highly interdependent world has unprecedented volatility.
Globally, China rebalancing its economy has put pressure on the steel industry. The last year was challenging and underlines the importance of productivity and cost competitiveness, he said.
Being lean and agile will help us tackle uncertainty, and will also position us to leverage large opportunities. Government spending on Infrastructure will have a positive impact across our businesses, Mistry said.
