Tata chairman underscores thrift at Taj Group's first digital AGM

Says recovery to be led by domestic business, cites pressure to hospitality sector due to lockdowns, reduced air travel and absence of public gatherings, impacting MICE business

Tata Group Chairman Natarajan Chandrasekaran conducted the first-ever digital annual general meeting (AGM) of the group’s oldest company, Taj Group of Hotels (IHCL), with independent directors and others participating from the comfort of their home. He answered shareholders’ queries, grievances and, in some instances, acknowledged flattering commentary for the management team.

"In the past few months, the outbreak of the Covid-19 pandemic has developed rapidly into a global crises, resulting in an unfamiliar and uncertain terrain and affecting the very fundamentals of the world around us," said  Chandrasekaran.

The Indian economy had slowed on account of the NBFC decline, of credit growth,