New Delhi [India], October 28 (ANI): Union Finance Minister Nirmala Sitharaman on Wednesday hit back at Leader of Opposition in the Lok Sabha Rahul Gandhi over his remarks on the Tata Group, accusing him of politicising commercial and legal matters and attempting to spread distrust among Indian business leaders.
In a post on X, Sitharaman advised Gandhi against labelling commercial and legal issues as criminal matters, while questioning his repeated criticism of Indian industry and entrepreneurs.
“Being the LoP @RahulGandhi, I suggest you refrain from politicising every issue. Also, casually labelling commercial and legal matters as criminal is unacceptable,” Sitharaman said.
She further accused the Congress leader of attempting to incite business leaders against the government and creating an atmosphere of distrust.
“You have repeatedly decried the successes of Indian industry & our entrepreneurs. Now, are you trying to incite our business leaders to join you in spreading distrust & toxicity?” she asked.
Taking a swipe at the Congress party’s economic legacy, Sitharaman said its policies had restricted entrepreneurship and economic opportunities through the Licence-Quota Raj.
“For decades, your party had smothered the spirit of the Indian entrepreneurs under the stifling ‘Licence-Quota Raj’ & inflicted poverty on crores of Indians,” she said.
Defending the government’s economic policies, the Finance Minister said the Centre’s approach was aimed at enabling enterprise, supporting industry and encouraging investment. She also stressed the importance of the judiciary in ensuring justice and urged Gandhi to refrain from making allegations against institutions.
Following Sitharaman’s remarks, Gandhi questioned why representatives of Tata Trusts and Tata Sons had been hosted at the residence of Union Home Minister Amit Shah, challenging the Finance Minister’s description of the matter as a commercial and legal issue.
“Which ‘legal and commercial matter’ required Tata Trusts and Tata Sons to be hosted at Amit Shah’s residence?” Gandhi asked in his subsequent post on X.
He also raised questions over alleged favouritism towards select business groups, asking, “When is crony number 1 going to appear in the game and which pieces of Tata is he going to get?”
Gandhi further alleged that businesses across the country, barring a few favoured industrialists, were unhappy with the government’s approach.
“Finally, all India’s businesses except 3-4 of your cronies, already hate all of you and don’t need any incitement,” he said.
The exchange followed Gandhi’s earlier allegation that the Tata Group was being “criminally destroyed”, in which he questioned the silence of Indian business leaders and targeted Prime Minister Narendra Modi and Home Minister Amit Shah.
“How long will you stay silent? Until they own you?” Gandhi had asked in his earlier post, alleging that Indian businesses were being treated as the government’s property.
The political confrontation comes amid an internal dispute within the Tata Group over the reappointment of N Chandrasekaran as Executive Chairman of Tata Sons, with Tata Trusts Chairman Noel Tata questioning the validity of the board resolution approving his reappointment.
Despite the controversy surrounding the group’s internal governance, several major Tata Group companies have reported strong financial performances, reflecting the operational performance of businesses under the leadership of N Chandrasekaran.
Tata Consultancy Services (TCS), India’s largest IT services company, reported a 15 per cent year-on-year increase in consolidated net profit to Rs 13,884 crore for the September quarter, while revenue from operations rose 11.22 per cent to Rs 73,188 crore.
Tata Motors, formerly known as TML Commercial Vehicles, reported a consolidated net profit of Rs 1,254 crore, against a net loss of Rs 867 crore in the corresponding quarter last year. Its revenue increased 36 per cent, supported by higher commercial vehicle volumes.
Tata Consumer Products also posted a 16 per cent year-on-year rise in consolidated net profit to Rs 469.30 crore, compared with Rs 404.5 crore a year earlier. Consolidated revenue increased 14 per cent to Rs 5,661.1 crore.
Tata Capital Ltd reported a 51.32 per cent year-on-year jump in consolidated net profit to Rs 1,660 crore in the second quarter of FY27, compared with Rs 1,097 crore in the corresponding period last year. Its revenue rose 20.7 per cent to Rs 9,342 crore from Rs 7,739 crore.
The financial performance of these companies comes against the backdrop of the ongoing differences within the Tata Group, highlighting the continued business performance of its major operating companies amid the governance-related controversy. (ANI)
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