Joint letter from Indian and diaspora bodies says the debate over listing Tata Sons is "not merely a corporate matter but one of broader public interest"
Six Parsi and Zoroastrian institutions from India, North America, the United Kingdom and the global business community have written jointly to Prime Minister Narendra Modi, expressing concern over the ongoing developments involving Tata Trusts and Tata Sons, and conveying the community's solidarity with the Tata Trusts and the Tata family.
The letter, dated 7 October 2026 and issued on the letterhead of the Bombay Parsi Punchayet, was sent on behalf of the Boards of Trustees of the Bombay Parsi Punchayet (BPP), the Federation of Parsi Zoroastrian Anjumans of India (FPZAI), the Federation of Zoroastrian Associations of North America (FEZANA), the Zoroastrian Trust Funds of Europe (ZTFE), the Global Council of Zoroastrians Trust (GCZT) and the World Zoroastrian Chamber of Commerce (WZCC). The full signed letter accompanies this article.
Together, the letter states, these institutions "represent the religious, social, charitable and commercial life of the Parsi/Irani Zoroastrian community in India and around the world."
The background
At the centre of the current debate is whether Tata Sons, the holding company of the Tata Group, should list on the stock exchange. In 2022, the Reserve Bank of India classified Tata Sons as an upper-layer non-banking financial company, a designation that carried a deadline to go public by September 2025. As reported by Gaurav Sarkar in Mumbai Mirror, Tata Sons and Tata Trusts, which together hold roughly 66 per cent of Tata Sons, have been divided on the question since September 17.
The letter does not name individual directors or comment on any boardroom vote. Its focus is the role of the Trusts and the long-term character of the Group.
What the letter says
"At stake is the future character and purpose of one of India's most respected institutions, with a global footprint and reputation," the letter states.
It argues that the listing debate "should not be viewed merely as a regulatory or technical matter," and that "any change that alters the balance between long-term stewardship and short-term market expectations could affect the very fabric, ethos and defining character of Tata Sons and, by extension, the wider Tata Group." Preserving the values that have distinguished the Tatas for generations, it adds, "is a matter of considerable national importance."
The letter places the appeal in the context of the community's history of contribution. "Though minuscule in number, the Parsi/Irani community has played a significant role in India's development," it notes, naming Jamsetji Tata, J.R.D. Tata, Dr. Homi Bhabha, Field Marshal Sam Manekshaw and Nani Palkhivala. It recalls that the Indian Institute of Science, the Tata Institute of Fundamental Research, the Tata Institute of Social Sciences and the Tata Memorial Hospital "stand today as gifts to the nation, each of them seeded by Tata vision and philanthropy long before the country could fund such ambition itself."
The signatories credit the Trusts' majority ownership of Tata Sons for enabling the Group "to pursue long-term objectives while maintaining an unwavering commitment to ethics, philanthropy and social responsibility," and link the Group's future role to the Prime Minister's vision of Viksit Bharat 2047.
The letter closes by describing the Tata Group as "a national institution and the pride of every Indian," and cautions that "any subversion of its unique altruistic character will have unfortunate repercussions on the fair perception of our country which you and your government have so successfully achieved." The signatories express their "solidarity with the Tata Trusts and, in particular, with the Tata family," and hope "that all stakeholders approach the current challenges with due regard for the larger national good."
Community leaders speak
Speaking to Mumbai Mirror, the leaders of three of the signatory bodies explained the reasons behind the appeal.
"The Tata name is not the property of any one community. It belongs to every Indian," said Viraf D. Mehta, BPP Chairman and FPZAI President. "We have written to the PM not to take sides in the dispute, but to ask that an institution built over a century and a half on trust and service to the nation be protected."
Percy Master, WZCC Global President, added: "As a Zoroastrian community, we must stand united behind the legacy of Jamsetji Tata and his service to this nation. Our appeal is simple: do what is right for India. If Tata Sons is listed, the emphasis will shift towards commercial decision making, and that runs counter to the philanthropic mission of the Trusts and to everything the Tatas have stood for."
FEZANA President Ervad Kayomarz Y. Sidhwa said: "I believe this is a moment for unity and a clear voice in support of Tata Trusts. Decisions made today could shape generations. The biggest risk is that short-term market pressures could weaken the long-term philanthropic purpose at the heart of the Tata model. Our concern is preserving the independence to put people and public good at the centre of business decisions."
A rare joint voice
Joint statements by Indian and diaspora Zoroastrian institutions on a single national matter are uncommon. That bodies spanning Mumbai, North America, the UK and the global business community chose to speak together reflects how closely the Tata legacy remains tied to the community's identity, both in India and abroad.
With inputs from Gaurav Sarkar, Mumbai Mirror.