India's biggest conglomerate Tata Sons needs a new leader as N Chandrasekaran announced his departure in February. Noel Tata, the 69-year-old head of the charitable trusts controlling the $280bn group, is widely seen as the successor. The two men clashed repeatedly over strategy and whether the holding company should be listed.

Noel Tata has until February to find a replacement. Tata is pursuing major projects including a $70bn Air India fleet renewal, an $11bn semiconductor plant, and an AI pivot for TCS. The Tata Group is controlled by the charitable trusts, central to its founding ethos.

Critics say Noel Tata is trying to exert control by keeping the holding company private, while supporters argue this preserves strategic freedom. Neville Tata, Noel's 33-year-old son, is being groomed as a potential successor.