Mumbai, Aug 22 (PTI) Salt-to-software conglomerate Tata Sons Thursday announced a new entity to incubate new-age digital business called Tata Digital.
The USD 110-billion group appointed Pratik Pal, a veteran of the group’s software arm TCS, as the chief executive of the new venture. The new entity is “formed to incubate new digital businesses”, an official statement from Tata Sons said.
The statement announcing Pal’s appointment did not offer any details on the investment in the new venture or the exact contours of the same.
A recent media report based on the interview of group chairman N Chandrasekaran had said Tata Sons would infuse Rs 1,000 crore in the new vertical.
“The company will create a number of digital platforms. We have already identified the platforms we want to create. The first platform is already being built and the next two to three platforms are in the process of being developed,” Chandrasekaran had said.
Pal was responsible for growth of TCS’ second largest industry segment as the global head of retail, travel, transportation, hospitality and consumer packaged goods industry unit, the statement said.
“Pal will play a key role in building new growth platforms. His experience and commitment will be very valuable in shaping and developing new opportunities for the Tata Group in the digital economy,” Chandrasekaran said.
He assumed the new role Wednesday. PTI AA