"The founders left their shares in the companies to the Trusts with one message — do good for India. They never said become the biggest company. The companies exist to serve India and improve the quality of life," he said.

Drawing inspiration from the legacies of Jamsetji Tata, Sir Dorab Tata, J.R.D. Tata and Ratan Tata, Noel Tata said the Trusts would focus on creating institutions capable of delivering long-term benefits to future generations.

Healthcare and Education at the Core

Tata identified healthcare as one of the Trusts' primary focus areas. After collaborating with the Assam government to establish 17 cancer care hospitals, the organization is now exploring plans to set up between 40 and 50 not-for-profit general hospitals across the country.

The proposed facilities would operate under a cross-subsidy model, allowing revenue from premium services to support affordable treatment for a larger number of patients.

"The same surgeon, the same operating theatre and the same medicines should be available to every patient. The difference should only be in the room, not in the quality of care," he said.

Education will be another major area of investment. Tata pointed out that India lacks sufficient world-class educational institutions, forcing many talented students to seek opportunities abroad.

He said the undergraduate institution being developed in partnership with the Indian Institute of Management Bangalore (IIM Bangalore) would mark the beginning of a broader initiative aimed at expanding access to quality higher education.

"There is no reason why India cannot build enough institutions so students who deserve quality education can receive it here instead of going abroad," he said.

Measuring the Impact of Philanthropy

Noel Tata also stressed the importance of accountability in philanthropy, urging charitable organizations to measure the effectiveness of their initiatives more accurately.

"When someone says we have touched 50,000 or one lakh lives, my first question is, what do you mean by 'touched'? We must define impact and measure the outcomes of every rupee we spend," he said.

Lessons From Trent and Westside

Reflecting on his business journey, Tata recalled how the retail brand Westside was developed after the sale of Lakmé in the late 1990s.

Despite criticism and slower growth in the early years, the company remained committed to its private-label strategy.

"We decided we would live and die by the products we put on our shelves. There would be nobody else to blame if customers did not like them," he said.

According to Tata, the experience reinforced an important principle.

"My philosophy has always been to be the best before trying to become the biggest. If you become the best, size follows. Trying to become the biggest without first becoming the best can end in disaster."

Continuing a Century-Old Legacy

Noel Tata also highlighted the Tata Group's long-standing practice of creating businesses that address India's developmental needs, citing examples such as Tata Motors and Tata Power.

Recalling a statement made by former Tata Group chairman J.R.D. Tata, he said the group's philosophy remains unchanged.

"When J.R.D. Tata was asked about the Tata strategy, he simply said, 'We should do what India needs.' That remains our guiding philosophy."

The speech is being viewed as Noel Tata's clearest statement yet on the future direction of Tata Trusts, with institution building, social impact and national development emerging as the central themes of the organization's next chapter.