British industry hurt by costs, 'dying' supply chain: Ratan Tata

LONDON Wed Dec 5, 2012 9:32am IST

Tata Group Chairman Ratan Tata speaks during the annual general meeting of software services provider Tata Consultancy Services (TCS) in Mumbai June 29, 2012. REUTERS/Vivek Prakash/Files

Tata Group Chairman Ratan Tata speaks during the annual general meeting of software services provider Tata Consultancy Services (TCS) in Mumbai June 29, 2012.

Credit: Reuters/Vivek Prakash/Files

Related Topics

Stocks

   

LONDON (Reuters) - Ratan Tata, the chairman of Tata Group, has said that British industry is being hit by costs and a "dying" supply chain, in an interview with a British newspaper published on Wednesday.

India's Tata group owns Jaguar Land Rover, Tata Steel and Tetley Tea in Britain, and operates 19 companies with a 45,000-strong workforce across Europe, according to its website.

"The economic situation, the high cost of undertaking manufacturing, the supply chain - which is dying out as manufacturing undergoes hardship - make the UK not the first place you would look at to make a manufacturing investment," Tata told the Daily Telegraph.

British manufacturing continued to shrink in November, according to surveys released on Monday, just two days before the UK finance minister, George Osborne, outlines his half-yearly budget statement.

(Reporting By Dasha Afanasieva; Editing by Eric Walsh)

FILED UNDER:

REUTERS SHOWCASE

Oil Prices Fall

Oil Prices Fall

Brent near four-year low after OPEC decides against output cut  Full Article 

Banking Sector

Banking Sector

India says considering plan to reduce stake to 52 pct in state banks   Full Article 

Islamic Fund

Islamic Fund

India gets new Islamic equity fund but debt market still off-limits  Full Article 

Fiscal Deficit

Fiscal Deficit

April-October fiscal deficit nears 90 pct of full-year target  Full Article 

SAARC Summit

SAARC Summit

Summit salvaged after handshake by leaders of India, Pakistan  Full Article 

Social Media

Social Media

Twitter to start tracking users' mobile apps  Full Article 

Forever21 in India

Forever21 in India

Forever21 sets sights on Indian cities, but please hold the hot pants  Full Article 

Japan Economy

Japan Economy

Japan inflation slows in October, output and spending show signs of recovery  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage