Air India, Jaguar, Zudio: How Tata’s Salt-To-Software Empire Kept Expanding

The chairman of India’s Tata Sons, N Chandrasekaran, said on Wednesday that he has stepped down in light of the lack of board approval for his reappointment amid tensions with the charity arm that controls the salt-to-aviation Tata Group.

Tata Trusts, the group’s charitable arm, owns about 66 per cent of Tata Sons, which controls more than 30 group companies in the Indian conglomerate.

Here are more details on the group’s businesses:

Aviation:

• The group’s aviation business is anchored by Air India and Air India Express, which together operate a fleet of nearly 300 aircraft. In November 2024, Air India merged with Vistara under an agreement between Tata Sons and Singapore Airlines, creating a larger full-service carrier with an expanded network and fleet.
• The airline has posted losses in every year since the Tata Group took over in 2022 and is currently midway through a multi-year turnaround programme as it navigates supply chain constraints, mounting losses and the modernisation of legacy IT systems.

Automotive:

• Tata Motors has transformed from a domestic truckmaker into a global automotive group spanning commercial vehicles, passenger cars and EVs, propelled by its 2008 acquisition of British luxury automaker Jaguar Land Rover for $2.3 billion.
• Tata Motors completed its demerger in October 2025, splitting into two separately listed companies, Tata Motors Passenger Vehicles Ltd, with a market value of about $13.43 billion, and Tata Motors Ltd, which manufactures commercial vehicles and is valued at roughly $17.39 billion. The passenger vehicle business sold 641,587 units, including electric vehicles, in the fiscal year 2026.
• Jaguar Land Rover swung to an annual loss after a cyberattack disrupted production, while the luxury carmaker also grapples with weaker demand in China and higher US tariffs.
• In 2025, Tata Motors agreed to acquire Europe’s Iveco Group in an all-cash deal valued at $4.36 billion, combining the two companies’ commercial vehicle operations to create a global company, helping it expand its geographic footprint beyond India into Europe and the Americas.

Information Technology:

• Founded in 1968, Tata Consultancy Services serves clients across banking, manufacturing, consumer goods and media worldwide. It has historically been Tata Sons’ biggest source of recurring cash, by being the biggest contributor to its dividend income.
• The company’s shares have lost more than a quarter of their value this year, leaving it with a market capitalization of about $92.85 billion, as customers rein in discretionary technology spending amid economic and geopolitical uncertainty.

Steel:

• Founded in 1907, Tata Steel is one of the world’s oldest steelmakers with operations spanning mining to finished products across India and Europe and a market capitalization of about $24.66 billion. The company cemented its global presence with the $12 billion acquisition of Corus in 2007.
• The company posted net profit of 159.69 billion Indian rupees ($1.67 billion) for the full year ended March 31, 2026, compared with 84.23 billion rupees last year.

Power And Energy:

• Tata Power, one of India’s largest integrated power utilities with a market capitalization of about $12.74 billion, operates across power generation, transmission and distribution, renewable energy, solar manufacturing and EV charging, with more than 16 gigawatts of installed capacity serving over 13 million customers.

• It reported a profit after tax of 51.18 billion rupees for fiscal 2026, up from 47.75 billion rupees a year earlier.

Retail And Consumer:

• The Tata Group has a strong presence across India’s consumer market through companies including watch and jewellery retailer Titan, fashion retail company Trent, packaged foods and beverages business Tata Consumer Products and air-conditioning and consumer durables maker Voltas.
• Its brands include Tanishq jewellery, Westside and Zudio fashion stores, Croma electronics outlets and BigBasket’s online grocery business.
• The group also owns British tea brand Tetley, and is Starbucks’ joint-venture partner in India, running a network of more than 500 outlets across 80 cities in the country as of 2026.

Semiconductors:

• Tata Electronics, which is not publicly listed, is making a big bet on India’s chip ambitions, building a semiconductor fab in Gujarat and a chip assembly and testing facility in Assam, backed by Taiwan’s PSMC and Dutch equipment supplier ASML. The facilities are expected to serve customers in automotive, AI and consumer electronics.

Financial Services:

• Tata Capital offers lending, wealth management and investment banking services through a nationwide network, while Tata AIA and Tata AIG give the group a strong presence in life and general insurance.

Telecom And Digital:

• Tata Communications connects businesses across more than 190 countries and has expanded into cloud, cybersecurity and AI infrastructure, while Tata Play is one of India’s leading pay-TV and streaming platforms.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)