Chandra stays at Tata Sons, but Noel strongly objects

In a surprising turn of events, N Chandrasekaran has agreed to stay on as Executive Chairman of Tata Sons for an additional five years, defying his own initial decision. The Tata Sons board endorsed his reappointment after he reevaluated his earlier stance. However, Noel Tata, chairman of the Tata Trusts, vociferously opposes the extension.

In a strong statement, he declared that the decision of the Chairman to not seek another term has been finalized. The Tata Trusts has declared the reappointment resolution as "illegal". Meanwhile, India is charting a bold course for its semiconductor industry. Prime Minister Narendra Modi inaugurated SEMICON India 2026 in New Delhi, outlining a plan to establish 200 startups and companies designing chips, along with a workforce of one lakh semiconductor workers.

Modiji emphasized building capabilities across the entire technology value chain, moving beyond just semiconductor manufacturing. The inaugural event saw significant investment commitments by companies like Applied Materials, Lam Research, Tata Electronics, Intel, Kaynes Semicon, and CDIL. These partnerships span manufacturing, packaging, materials, design, and workforce development.

The announcements reflect India's push towards semiconductor manufacturing, from critical materials and equipment to packaging and design infrastructure. Fintech firms are also eyeing a potential revenue stream through the newly introduced merchant discount rate (MDR) on UPI transactions above Rs 2,000. While fintech and payment firms are optimistic about the development, experts caution that the exact impact on bottom line and customer behavior remains uncertain.