Reiterating his faith in India’s long-term growth story, Tata Group chairman Ratan Tata has said that the Indian tiger is yet to be unleashed, and that China’s economic strength would really not overpower India’s.
“I really do believe, deep down inside, that the Indian tiger has not been unleashed,” Tata said in an interview to Bloomberg UTV
Further, underlining the importance of China for Indian businesses, Tata said India should find out a way to be allies with its neighbour across the Himalayas. “India-China are not adversaries but (their relations) are not the best,” said Tata.
Explaining the complex nature of relationship between the two countries, Tata said: “I think there is a concern on part of India that China is trying to dominate the region (Asia) and there is an equal concern on the part of China that India is trying to dominate the region.”
He, however, hoped that he would be able to pass on the legacy to his successor to successfully move ahead without compromising on value system and ethics.
“I think what I want the legacy to be would be to say that we achieved the growth and the prosperity that the group has had with the value system and ethical standards that we have tried to retain and not succumb to the subjective pressures that exist to get things done,” he told Bloomberg UTV .
Dwelling further on the inability to achieve his goals, Tata said: “...I think we haven't as a group been able to touch the levels of the population that I had hoped, the Nano is one example.”
Serving the bottom of the pyramid in India with affordable products is a real and ongoing challenge and the Tata group has not succeeded in being innovative enough, he added.Tata, who is scheduled to step down in December from the helm of the multi-billion dollar business conglomerate, said that after retirement he would spend time on philanthropic activities related to rural development, water conservation and nutrition to children and pregnant women.