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:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

REUTERS SHOWCASE

Diwali Sales

Diwali Sales

Gold sales jump about 20 pct for Diwali - trade body  Full Article 

World Bank Rival

World Bank Rival

Three major nations absent as China launches W.Bank rival in Asia  Full Article 

Wal-Mart India

Wal-Mart India

Murali Lanka appointed as Wal-Mart India operations chief  Full Article 

Microsoft Earnings

Microsoft Earnings

Microsoft sales beat Street hopes, cloud profits up.  Full Article 

Special Report

Special Report

Why Madrid's poor fear Goldman Sachs and Blackstone  Full Article 

U.S. Economy

U.S. Economy

Spectre of no-inflation world looms over Fed's return to normal  Full Article 

Insider Trading

Insider Trading

Rengan Rajaratnam, SEC to settle civil insider trading charge.  Full Article 

Market Watch

Market Watch

Betting on the beaten up? Investors pin hopes on stocks in Europe, Japan.  Full Article 

India Insight

India Insight

Kalki Koechlin on her role as a disabled girl in “Margarita, With a Straw”  Full Article 

Reuters India Mobile

Reuters India Mobile

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