Noel Tata, like his predecessor Ratan Tata, enjoys a clean and respectable image. Now that he has become chairman of the Tata Trusts, it is expected that he will lead the Tata Group to even greater heights in his new role.
 Meanwhile, The Parsi community, for centuries, has played a vital role in India’s economic development through their foresight, hard work, and innovation. They have carved a unique identity for themselves in India’s industrial history. Noel Tata hopes to continue this legacy.
Immediately following Noel Tata’s appointment as chairman of the Trusts, the nation’s corporate world and the Reserve Bank of India (RBI) have placed their hopes on him to pave the way for an Initial Public Offering (IPO) of Tata Sons, the holding company of the Tata Group. Most of Tata Sons’ shares are held by the Tata Trusts. The RBI expects large Non-Banking Financial Companies (NBFCs) to go public, which essentially means they should have an IPO in the market.
Under RBI regulations, all non-banking financial companies are required to be listed on the stock market. The deadline for this was set for September 2025, and a list of around 15 companies was released. Several of these companies have already been listed. Tata Sons, however, is among those that have not yet been listed. Tata Sons has sought relief from the RBI in this matter.
Some argue that Venugopal Srinivasan, a member of both the RBI and Tata Sons boards, represents a conflict of interest. Srinivasan was appointed to the Reserve Bank’s central board for a four-year term on June 14, 2022. He also served as chairman of TVS Motors and is highly respected in India’s corporate world. The RBI had similar expectations that Tata Sons would also bring an IPO. This, however, did not happen. There is now a renewed hope for this to happen, as Noel Tata is known for adhering to regulations. This IPO should have happened during Ratan Tata’s time, as RBI regulations apply to Tata Sons as well.
Noel Tata has an opportunity to showcase his capabilities. He can kickstart his new journey by bringing the Tata Sons IPO. It is surprising that Tata Sons has not yet been able to bring an IPO. However, it should have done so according to the Reserve Bank’s regulations.
 Lets also know about the Tata Sons. Tata Sons Private Limited is the principal holding company of the Tata group. 66% of the equity share capital of Tata Sons is held by philanthropic trusts, which support education, health, livelihood generation, and art and culture. Each Tata company or enterprise operates independently under the guidance and supervision of its own Board of Directors.
The website of Tatat groups says “The Tata philosophy of management has always been, and is today more than ever, that corporate enterprises must be managed not merely in the interests of their owners, but equally in those of their employees, of the consumers of their products, of the local community and finally of the country as a whole.” JRD Tata, 1973
As a responsible corporate citizen, Tata Sons follows the laws of the land in letter and spirit. Tata Sons also goes beyond mere compliance to highlight certain behaviours and norms to Tata group operating companies.
Meanwhile, following the demise of Ratan Tata, many are becoming aware of the unique and significant contribution of the Parsi community to the Indian industrial landscape. However, it is still important to highlight the contributions of Parsi entrepreneurs like the Tatas, Godrej, Wadias, and Mistrys, who have provided opportunities for growth for half the world. Sudha Murthy, chairperson of the Infosys Foundation, recalls being an engineer at Tata Motors in 1974 and staying in touch with JRD Tata, chairman of the Tata Group. Just imagine how few women engineers were working in private companies in India half a century ago.
There is another notable point: the absence of news about property disputes within Parsi industrial houses. This is considered a crucial reason for their success, differentiating them from other communities.
Beyond Profit-Making
Parsis, for centuries, have played a significant role in India’s economic development with their farsightedness, hard work, and innovation. They have carved a unique identity for themselves in India’s industrial history. Their businesses have never focused solely on maximizing profits. They believe in earning profits and then utilizing a significant portion of those profits for the betterment of society.
Let’s start with the Tata Group. The Tata Group, India's largest business conglomerate, was founded by Jamsetji Tata in 1868. From its humble beginnings in textiles, hotels, and ironworks, it has established a presence in diverse sectors like IT and automobiles. The Tata Group's contributions extend beyond industries to education, healthcare, research, and development.
Founded in 1897, almost two decades after the Tata Group. The Godrej Group is a leading name in various sectors like consumer goods, furniture, and real estate, using cutting-edge technology. Godrej has consistently provided opportunities for a significant portion of the world to reach the top.
Before the Tatas and Godrej, the Wadia Group was founded in 1736. Its history is intertwined with modern India. This group began with textiles, later expanding into aviation, beverages, banking, real estate, and other areas.
We can confidently say that Noel Tata will continue to contribute to the nation-building process.



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