Latest news with #NChandrasekaran
Mint
35 minutes ago
- Automotive
- Mint
Tata Motors working with govt, looking alternate sources for magnets: Chandrasekaran
Mumbai, Jun 20 (PTI) Tata Motors is working with the government and is also taking steps to procure magnets from alternate sources in the wake of China restricting exports of rare earth elements, company Chairman N Chandrasekaran told its shareholders on Friday. Responding to queries from shareholders on the impact of China's move to restrict exports of rare earth elements and shortage of magnets, he said, "As of now, this is not a concern, but this is something that we are watching very carefully." "As of now, we are okay. We are not facing are able to source the magnets that we need, and also we have plans for having the right level of inventory. We are working with the government. Also, we are working on sourcing from alternate sources," Chandrasekaran noted. China's restrictions on the export of rare earth elements and related magnets are affecting the domestic auto and white goods sectors. The automobile industry had sought government support in expediting approvals from the Chinese government for importing rare earth magnets used in various applications, including passenger cars. To another query on the impact of the ongoing Iran-Israel war on the company's business, he said, "It is very difficult to answer what will be a war kind of situation look like." However, he said Tata Motors group's three firms -- commercial vehicle, passenger vehicles and JLR -- have a very strong platform. "They will be able to tide over any of these geopolitical issues in the short term but are completely ready and poised for excellent growth and leverage the opportunity that this industry has to offer," Chandrsekaran asserted. Earlier in opening address, he said that going forward, volatility will continue to mark economic cycles -- from widespread geopolitical conflicts, military escalations, the redrawing of supply chains and tariff regimes, to AI and energy transition. Nowhere are all these disruptions visible more than in the automotive sector. "Given the enormous amount of work we have done over the past few years -- from simplifying the businesses to making big strategic bets to strengthening our financial position -- our businesses are structured to not just handle this environment, but to thrive," he asserted. Responding to a query on passenger vehicle business expansion in international markets, he said, "This is something that we are always in discussions but we are waiting for the right geopolitical environment to be able to launch but we are getting prepared." To another query on the completion of demerger of Tata Motors' commercial and passenger vehicle verticals into separate entities, Chandrasekaran said, "We think the demerger will happen in the last quarter of this year.
Time of India
an hour ago
- Automotive
- Time of India
Tata Motors working with govt, looking alternate sources for magnets: Chandrasekaran
Mumbai: Tata Motors is working with the government and is also taking steps to procure magnets from alternate sources in the wake of China restricting exports of rare earth elements , company Chairman N Chandrasekaran told its shareholders on Friday. Responding to queries from shareholders on the impact of China's move to restrict exports of rare earth elements and shortage of magnets, he said, "As of now, this is not a concern, but this is something that we are watching very carefully." "As of now, we are okay. We are not facing are able to source the magnets that we need, and also we have plans for having the right level of inventory. We are working with the government. Also, we are working on sourcing from alternate sources," Chandrasekaran noted. China's restrictions on the export of rare earth elements and related magnets are affecting the domestic auto and white goods sectors. The automobile industry had sought government support in expediting approvals from the Chinese government for importing rare earth magnets used in various applications, including passenger cars. Live Events To another query on the impact of the ongoing Iran-Israel war on the company's business, he said, "It is very difficult to answer what will be a war kind of situation look like." However, he said Tata Motors group's three firms -- commercial vehicle, passenger vehicles and JLR -- have a very strong platform. "They will be able to tide over any of these geopolitical issues in the short term but are completely ready and poised for excellent growth and leverage the opportunity that this industry has to offer," Chandrsekaran asserted. Earlier in opening address, he said that going forward, volatility will continue to mark economic cycles -- from widespread geopolitical conflicts, military escalations, the redrawing of supply chains and tariff regimes, to AI and energy transition. Nowhere are all these disruptions visible more than in the automotive sector . "Given the enormous amount of work we have done over the past few years -- from simplifying the businesses to making big strategic bets to strengthening our financial position -- our businesses are structured to not just handle this environment, but to thrive," he asserted. Responding to a query on passenger vehicle business expansion in international markets, he said, "This is something that we are always in discussions but we are waiting for the right geopolitical environment to be able to launch but we are getting prepared." To another query on the completion of demerger of Tata Motors' commercial and passenger vehicle verticals into separate entities, Chandrasekaran said, "We think the demerger will happen in the last quarter of this year. "First, the PV company will list and then the CV company will list a couple of months later. It will happen, in our estimate, sometime around October-November-December quarter." Economic Times WhatsApp channel )
Economic Times
3 hours ago
- Business
- Economic Times
At TCS AGM, AI-led disruption, automation, geopolitics in focus
The world is facing upheavals on multiple fronts—tariffs, wars, and disruption due to artificial intelligence (AI), said Keki Mistry, non-executive and independent director at Tata Consultancy Services (TCS), as he presided over the 30th Annual General Meeting (AGM) of the company. Tata Sons chairman N Chandrasekaran could not chair the meeting due to 'certain exigencies.' 'We are presently engulfed by uncertainty at multiple fronts. The global economic connections are being reconfigured on a daily basis from tariffs to supply chains, wars and conflicts across regions, to the disruption posed by artificial intelligence. The world faces upheaval at several levels,' said the veteran business executive and former CEO of HDFC. The board of directors recommended a final dividend of Rs 30 per share for the fourth quarter, which brings the total annual dividend for the year to Rs 126 per share. TCS' shareholder payout was Rs 45,588 crores with a payout ratio of 94%.Looking ahead, TCS plans to focus on four strategic pillars: establishing a large pool of AI agents working alongside the human workforce, delivering solutions to a human plus AI model, and investing in AI data centres as well as partnerships, Mistry pointed out that the geopolitical landscape has reshaped how global businesses operate—reimagining their systems, processes, and technologies. 'Among all the shifts, it is the potential of generative artificial intelligence that stands apart. Unlike previous technological revolutions, which arrived sequentially across the globe, GenAI is emerging everywhere simultaneously… GenAI is not just another tech cycle. It represents a generational shift.'
Scroll.in
6 hours ago
- General
- Scroll.in
Ahmedabad plane crash: DNA confirms identities of 223 of those killed
Eight days after the Air India plane crash in Ahmedabad, the identities of 220 persons who died have been confirmed through DNA testing, The New Indian Express reported on Friday. The bodies of 204 persons have been handed over to their families as of 11.50 am on Friday, Civil Hospital Superintendent Rakesh Joshi told the newspaper. This includes the bodies of two persons who succumbed to their injuries while undergoing treatment at the Civil Hospital. On June 12, Air India's Boeing 787-8 Dreamliner aircraft, which was en route to London's Gatwick airport from Ahmedabad, crashed just 33 seconds after taking off. This is being viewed as the world's worst aviation disaster in a decade. There were 242 people aboard the aircraft. One passenger survived with ' impact injuries '. Thirty-four persons were also killed on the ground after the plane crashed into the hostel building of the BJ Medical College and Hospital in Ahmedabad, according to Air India. Rakesh Joshi, the civil hospital superintendent, told The New Indian Express that among the 223 bodies that have been identified, 168 were Indians, 36 British citizens, seven Portuguese and one Canadian. Another 11 persons were those who were not in the aircraft, but were in buildings into which it crashed. The remains of 15 victims were transported by air, while 189 were sent via road, the doctor added. Meanwhile, India's Aircraft Accident Investigation Bureau is yet to decide whether flight data and cockpit voice recorders from the aircraft that crashed will be sent overseas for analysis, the Ministry of Civil Aviation said on Thursday. The decision will be taken 'after due assessment of all technical, safety, and security considerations'. The ministry issued the clarification after certain media outlets reported that the recorders were being sent abroad for analysis. 'The Ministry of Civil Aviation urge all stakeholders to refrain from speculation on such sensitive matters and to allow the investigative process to proceed with the seriousness and professionalism it warrants,' the statement added. The Tata Group's chairman N Chandrasekaran on Thursday told Times Now that one of the engines of the Air India plane that crashed was new and installed in March, while the other was installed in 2023 and was not due for servicing until December.
Time of India
10 hours ago
- Business
- Time of India
‘Violation of standard airworthiness…': Days before Air India crash, DGCA warned airline of breaching safety rules on Airbus aircraft: Report
The regulator noted that Air India "failed to submit timely compliance responses" to identified deficiencies. (Ai image) The Directorate General of Civil Aviation had issued a warning to Air India regarding safety protocol violations, as three of the airline's Airbus aircraft continued operations despite pending inspections of emergency systems. The regulatory body also criticised the airline's delayed response in addressing these concerns, according to a Reuters report. It's important to note that these warning notices and an investigation report are not related to the Air India AI 171 Boeing 787 crash that happened on June 12. These communications and warnings by DGCA were given to Air India days before the crash. What DGCA warned Air India about The aviation regulator's report quoted in the Reuters report revealed that during May inspections, three Air India Airbus aircraft were found operating with overdue mandatory checks on escape slides, which are vital emergency equipment. An Airbus A320 aircraft's inspection was conducted on May 15, more than a month behind schedule. During this period, AirNav Radar tracking showed the aircraft served international routes including Dubai, Riyadh and Jeddah. The findings also highlighted that an Airbus A319, used for domestic flights, had checks delayed by over three months, whilst another aircraft's inspection was conducted two days late. The DGCA report said: "The above cases indicate that aircraft were operated with expired or unverified emergency equipment, which is a violation of standard airworthiness and safety requirements." Also Read | Air India crash: N Chandrasekaran makes important statement; says AI 171 Boeing 787 Dreamliner had 'new engine', 'clean history' & 'no red flags' The regulator noted that Air India "failed to submit timely compliance responses" to identified deficiencies, "further evidencing weak procedural control and oversight." The airline, acquired by the Tata Group in 2022 from the government, responded that it was "accelerating" the verification of all maintenance records, including escape slide dates, with completion expected within days. The carrier clarified that in one instance, the issue was discovered when an AI Engineering Services engineer accidentally deployed an escape slide during maintenance work. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch CFD với công nghệ và tốc độ tốt hơn IC Markets Đăng ký Undo Safety checks on emergency escape slides are crucial, as their malfunction during accidents could result in grave consequences, according to Vibhuti Singh, who previously served as a legal expert at the government's Aircraft Accident Investigation Bureau. The aviation regulator DGCA said that aircraft failing to undergo mandatory inspections would have their airworthiness certificates considered suspended. Documentation reveals that Animesh Garg, who holds the position of deputy director of airworthiness in the Indian government, dispatched the warning notices and reports to Air India's CEO Campbell Wilson and other senior officials, including the continuing airworthiness manager, quality manager and head of planning. Also Read | Air India plane crash: After 12/6, demand for Air India's 787s crashes A legal specialist in aviation matters indicated that such violations typically result in financial and civil penalties for both the company and individual executives. In a previous statement to Reuters, Wilson acknowledged that whilst global parts shortages affected the industry broadly, Air India faced greater challenges due to its older fleet, with numerous aircraft remaining unmodernised since their delivery in 2010-2011. Aviation authorities across the globe, including India's regulatory body, impose penalties on airlines for breaching compliance requirements. In February, the government informed parliament about 23 instances where airlines faced warnings or penalties for safety violations in the previous year. Air India and Air India Express accounted for twelve of these violations, with one case involving "unauthorised entry into the cockpit". The carrier faced its heftiest penalty of $127,000 for insufficient oxygen supplies during a San Francisco-bound flight. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
