Chairman Cyrus Mistry hired Katragadda from General Electric last year in a bid to boost its research and development operations and also create technology strategies for its diverse group companies.
In the last ten years the group had a 15 fold increase in innovation across its 70 companies since it started an annual competition of ideas called Tata Innovista. The top 60 projects this year are expected to deliver a financial benefit of $1.1 billion annually. The group expects its employees to come up with more such ideas that can be patented.
"We will have to make it easier and create a platform for the employees via social media amongst others to encourage more innovation. We have recognition at different level right from regional rounds and ensure they get support from their teams and company," said S Padmanabhan, executive chairman at Tata Quality Management Services, Tata Sons.
Sustainable energy, food and wellness, consumer electronics and factory and fleet digitalization are focus areas at the group level, said Katragadda.
Download The Economic Times News App to get Daily Market Updates & Live Business News.
Subscribe to The Economic Times Prime and read the ET ePaper online.
Read More News on
Download The Economic Times News App to get Daily Market Updates & Live Business News.
Subscribe to The Economic Times Prime and read the ET ePaper online.