Chandrasekaran’s appointment as Tata head raises expectations: India Inc.

New Delhi, Jan 13 (IANS) Expressing confidence in Natarajan Chandrasekaran, who was appointed the new Executive Chairman of Tata Sons, India Inc. on Friday said there are high expectations of him.

"There is confidence that the new Tata Group head would reach out to all stakeholders of the group, including the minority shareholders and restore the best of conditions befitting the values and ethos of one of the most respected conglomerates in the world," Associated Chambers of Commerce and Industry of India (Assocham) said here in a statement.

Chandrasekaran, 53, has spent some 30 years in the Tata Group and is the first non-Parsi to head the $103-billion global empire with a 148-year history.

"Chandrasekaran has a task cut out before him which is to maintain the leadership of the Tata Group in India Inc. without letting some unsavoury past events come in the way. In a way, I am sure, resolution of the issues which had cropped up would be faster with the leadership being well settled now," Assocham Secretary General D.S. Rawat said.

"As the leader of one of the highest value-creating companies in the world (CEO of Tata Consultancy Services), he has been a tremendous driving force for the Tata Group and is universally admired and respected," Naushad Forbes, President of Confederation of Indian Industry (CII), said.

His impeccable record in financial achievements and standards of corporate governance would, no doubt, set new benchmarks for Indian and global industry, Forbes added.

"Appointment of N. Chandrasekaran has come at a time when Tata Sons needed a strong and result-oriented leadership. Chandrasekaran has strong experience in acquisitions and exports which will help Tata Sons considering their overseas acquisitions in the past," Vaibhav Agrawal, Head of research and automatic repeat query, Angel Broking, said.

"TCS, under Chandrasekaran's leadership, consistently reported strong financials, return ratios and has become most valuable company in India. This is something that indicates successful track record of the new Chairman at Tata Sons," Agrawal added.