Tata Sons Chairman N Chandrasekaran stated that Air India represents a responsibility for the Tata Group, not just a business opportunity. He highlighted the significant growth potential in India’s aviation sector, driven by economic expansion and increasing consumer aspirations. Despite challenges like supply chain disruptions and geopolitical factors, the commitment is to build a world-class airline. MUMBAI: Tata Sons Chairman N Chandrasekaran Saturday said Air India, which is undergoing a transformation, is not just a business opportunity but a “responsibility” for Tata Group. In his keynote address at an event here to celebrate the 121st birth anniversary of Tata Group founder JRD Tata, Chandrasekaran said when the group bought Air India in 2022, he was asked why it was entering the aviation sector. “But I firmly believe for Tata Group, Air India is not just a business opportunity. It’s a responsibility,” he said.“Every single percentage growth in GDP will give a 2% growth in the domestic aviation sector. (If) India grows 8%, the aviation industry grows 16%. And this game will play out… at least for the next three decades. So, this is going to be a very exciting phase of economic growth, and for the aviation sector in particular,” he said, adding, “But it’s not easy. It’s increasingly difficult because the sector faces continuous challenges.” He said the global supply chain makes the availability of parts, infrastructure and new aircraft unpredictable.Chandrasekaran also mentioned that aviation is a very capital-intensive business and the industry margins are thin. Noting that India is already the fourth largest economy, and becoming the third largest economy, he said the 8.2% GDP growth in the July-Sept quarter was “just fabulous.” And India will grow at 7% at least, this fiscal year, he added.According to him, there is increasing consumer confidence and consumption-led growth, and public infrastructure spending will additionally drive growth. “So, we will become a $5 trillion economy, and we will grow beyond that. We will do it faster, and the pace at which we add every additional trillion dollar will be shorter, and we will create exciting opportunities. But if this has to happen, one of the aspects that needs to work is connectivity,” he said.He said there are several aspects of the industry that one has to manage. “Geopolitics is a surprise. Suddenly, your flight routes will change, because you cannot fly over a territory. Your flights take longer, your fuel costs go up… We have to manage all of this,” he said.Chandrasekaran said demand for air travel is very high, and the aspirations of Indians are growing as everybody wants to be connected andtravel. “So I think our commitment is to build a world-class airline,” he further said.End of ArticleFollow Us On Social MediaVideos“Our Rashtra Built On Culture, Not Clashes”: RSS Chief’s Big Claim On Nationhood“Oppression Will Trigger Jihad”: Jamiat Chief’s Explosive Claim Stirs StormEAM Jaishankar Decodes Massive US China Power Shift And Global Realignment In Sharp Kolkata AddressImran Khan Isolation Sparks Fury As PTI Claims His Photo Could Transform Pak’s Political RealityDelhi Court Extends Anmol Bishnoi’s Custody; NIA Probes Gang-Terror LinksAviation Expert Flags Deadly Risk In A320 Fleet After Critical Control System FailurePakistan Still Licking Op Sindoor Wounds: BSF Warns Next Attack Will Trigger Even Stronger ResponseAfter India’s 8.2% GDP Jump, Piyush Goyal Credits Reforms And Predicts Strong, Sustained ExpansionIMD Issues Red Alert as Cyclone Ditwah Approaches TN; Sri Lanka Deaths Exceed 80Siddaramaiah, DK Shivakumar Project Unity After High-Stakes Karnataka Meet Amid Rumours Of Cong Rift123PhotostoriesRandeep Hooda & Lin Laishram’s Cutest Social Media MomentsTollywood couples whose off screen romance blossomed into real life love5 animals that went extinct in recentyearsKajol to Janhvi Kapoor: Celebrity looks that defined today’s fashion mood board8 air-purifying indoor plants that naturally absorb harmful gasesFrom Dharmendra to Amjad Khan: Remembering the ‘Sholay’ stars who are no longer with usGen Z sensations Aneet Padda & Ahaan Panday serve old-school romance with their viral ‘Saiyaara’ glow-upHyderabad Unveils India’s First Mobile Anti-Drone Vehicle to Boost Security MeasuresIn Pics | Tesla Opens India’s First All-In-One Facility in GurgaonNoida Apple Store Unveiled: India’s Fifth Retail Location with Peacock-Inspired Design at DLF Mall of India123Hot PicksDelhi AQI TodayCyclone DitwahWorld NewsGold rate todaySilver rate todayPublic Holidays NovemberBank Holidays NovemberTop TrendingGiannis AntetokounmpoBo BichetteWWE Smackdown HighlightsDonald TrumpPerez HiltonCyclone DitwahR AshwinAyesha CurryFuzzy ZoellerJammie Booker
MUMBAI: Tata Sons Chairman N Chandrasekaran Saturday said Air India, which is undergoing a transformation, is not just a business opportunity but a “responsibility” for Tata Group. In his keynote address at an event here to celebrate the 121st birth anniversary of Tata Group founder JRD Tata, Chandrasekaran said when the group bought Air India in 2022, he was asked why it was entering the aviation sector. “But I firmly believe for Tata Group, Air India is not just a business opportunity. It’s a responsibility,” he said.“Every single percentage growth in GDP will give a 2% growth in the domestic aviation sector. (If) India grows 8%, the aviation industry grows 16%. And this game will play out… at least for the next three decades. So, this is going to be a very exciting phase of economic growth, and for the aviation sector in particular,” he said, adding, “But it’s not easy. It’s increasingly difficult because the sector faces continuous challenges.” He said the global supply chain makes the availability of parts, infrastructure and new aircraft unpredictable.Chandrasekaran also mentioned that aviation is a very capital-intensive business and the industry margins are thin. Noting that India is already the fourth largest economy, and becoming the third largest economy, he said the 8.2% GDP growth in the July-Sept quarter was “just fabulous.” And India will grow at 7% at least, this fiscal year, he added.According to him, there is increasing consumer confidence and consumption-led growth, and public infrastructure spending will additionally drive growth. “So, we will become a $5 trillion economy, and we will grow beyond that. We will do it faster, and the pace at which we add every additional trillion dollar will be shorter, and we will create exciting opportunities. But if this has to happen, one of the aspects that needs to work is connectivity,” he said.He said there are several aspects of the industry that one has to manage. “Geopolitics is a surprise. Suddenly, your flight routes will change, because you cannot fly over a territory. Your flights take longer, your fuel costs go up… We have to manage all of this,” he said.Chandrasekaran said demand for air travel is very high, and the aspirations of Indians are growing as everybody wants to be connected andtravel. “So I think our commitment is to build a world-class airline,” he further said.
