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Cyrus Mistry promises relentless pursuit of competitiveness

Thursday, 3 January 2013 - 8:40am IST | Place: Mumbai | Agency: dna

In first letter to staff, reaffirms investments, says all growth will come the ‘sustainable Tata way’

Six days after assuming the role of the chairman of Tata Sons, 44-year old Cyrus Mistry sketched out his plans for the Tata Group in an email to employees.

"We have already put in place plans for additional investments in excess of Rs45,000 crores over the next two years," he said, hailing predecessor Ratan Tata’s achievements over the past two decades.

While he said the culture of innovation, quality and collaboration professed by Tata will be abided by, he subtly hinted at some changes that the group might see in the times to come.

Mistry, who has been working with Tata for the last one year as vice-chairman and chairman-designate of the group, said that the focus of the group will be on emerging markets, with the focal point being India.

"I look forward to our group playing its role in continuing to invest in the Indian growth story … we will be required to work to both deepen and widen our global engagement with an emphasis on emerging markets in Asia, Africa and parts of Latin America, adding to our existing presence in Europe and America," he said in the letter.

"As history has shown, corporations that are happy with resting on their laurels are weeded out by nimble competition that have sensed the pulse of customers with an emphasis on innovation to be continuously relevant in these fast-changing times," he said.

He went on to add in the letter that the group will have to respond swiftly and adapt to changes in market conditions anywhere in the globe as also being "relentless in our pursuit of improving our competitiveness."

Mistry promised not to overlook the small details that make or break a business, while continue to focus on wealth creation for his shareholders, but added that while growth opportunities will be aggressively and meticulously pursued, it would only be done "in the sustainable Tata way."

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