TATA SONS' NEW-AGE BUSINESSES ACCUMULATE NEARLY $10B IN DEBT

Four of Tata Sons' new-age, loss-making businesses have accumulated bank debt of nearly ₹0.88 trillion (approximately $10 billion), posing a significant challenge for the next group chairperson. The debt at Air India, Tata Electronics, Agratas, and Tata Digital grew 53% in FY26, a faster pace than the group's most indebted listed firms. Much of this borrowing is backed by guarantees from the parent holding company, Tata Sons.