Chennai: Natarajan Chandrasekaran, a native of Tamil Nadu, has become the chairman of the Tata Group following Ratan Tata's demise. This is the first time that a non-Parsi has become the chairman of the Tata Group. Despite the surprising trend of major companies appointing Tamils as leaders, did you know that the longstanding friendship between Tata and Tamil Nadu remains indispensable?
Tata's fashion brand 'Titan' first got a foothold in Tamil Nadu. Behind the globally renowned Titan brand's special quality watches, there is a deep connection between Tamil Nadu and its industrial vision. In the early 1980s, Titan Watches Limited was formed out of a major joint venture between the Tamil Nadu Industrial Development Corporation (TIDCO) and the Tata Group.
Tamil Nadu-TIDCO-Tata Partnership
In the mid-1980s, TIDCO significantly contributed to Tamil Nadu's industrial development while the Tata Group sought new growth opportunities. At that time, India's watch industry largely relied on foreign brands.
Economist Soma Valliappan spoke to ETV Bharat about some of the steps taken by Tata in an attempt to change this. He noted, "In 1984, TIDCO and Tata established the Titan Watch Company. Many would be surprised to learn it's based in Hosur. Titan exports to over 30 countries, and even now, it's expanding its global presence. TIDCO still retains a 27.8% stake and provides additional revenue for Tamil Nadu through dividends.
Last month, the foundation stone for an electric vehicle factory worth Rs 9,000 crore was laid in Ranipet district, he said. He also pointed out that more than 20,000 people have got jobs in Tamil Nadu due to the Tata Group.
Development of Titan
Titan was not successful in its first attempt as it did not have employees with the same skills as other foreign watch companies. To rectify this, Titan wanted to train Class X students in districts like Namakkal and Krishnagiri to make watches.
Hence, the government and school registrars were notified, and their consent was sought. Subsequently, discussions were held with the parents, and once everyone agreed, Titan provided the students with food and accommodation. The students were then taught the intricacies of watchmaking. After completing their training, they became proficient in producing world-class watches. This marked the beginning of Titan’s successful journey.
Tamil Nadu has its own identity
As the company grew, it released a watch series called 'Namma Tamil Nadu' as a tribute to the people of Tamil Nadu. The inscription had the word Titan written in Tamil and symbols of Tamil heritage.
Fashion Empire
Titan sells a wide range of products, including gold, diamond, watches, spectacles and perfume under brands such as Fastrack, Sonata, Octane, Xylus, Helios, Titan Raga, Tanishq, CaratLane, Titan Eye Plus, Skinn etc.
From Titan to its subsidiaries, all of its products have been combined with modern technology to establish its uniqueness. Despite its initial difficulties in competing with international watch companies, Titan was successful with its quality and power focus. It is now the fifth-largest watchmaker in the world.
Titan exports its products to more than 30 countries across the world. Even today Titan is spreading their name across the global landscape. It is not clear whether they would have been able to become so popular if Titan had relied solely on business. Economist Soma Valliappan and other experts have praised Tata for its ability to sustain and accelerate growth, attributing much of its success to its strong connection with the people.
Read more: Ratan Tata -- Part Corporate Titan, Part Secular Living Saint
