N Chandrasekaran, the chairman of Tata Sons, is set to bring the fast-moving consumer goods (FMCG) business under one entity, The Times of India reported.

The conglomerate is set to transfer the branded salt, pulses, masalas and ready-to-eat snacks portfolio from Tata Chemicals to Tata Global Beverages, the report said.

As per the report, the move is part of the Tata Group strategy to simplify the firm's corporate structure and consolidate operations.

The proposal is likely to be announced on Wednesday and Tata Global Beverages will have a new name, reflecting the changing profile of its portfolio, a source familiar with the matter told the newspaper.

The report said EY is assistinging the firm in the consolidation process.