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

LONDON Wed Dec 5, 2012 6:44am IST

Tata Group Chairman Ratan Tata attends the annual general meeting of Tata Steel Ltd., in Mumbai August 14, 2012. REUTERS/Danish Siddiqui

Tata Group Chairman Ratan Tata attends the annual general meeting of Tata Steel Ltd., in Mumbai August 14, 2012.

Credit: Reuters/Danish Siddiqui

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)

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

  • Most Popular
  • Most Shared

Shares Hit Record

Sensex, Nifty rise to second consecutive record high

Sensex surges 500 points on BOJ easing, L&T gains

The BSE Sensex and Nifty surged to record highs for a second consecutive session on Friday after Bank of Japan's surprise expansion of its massive stimulus programme raised hopes for additional foreign inflows, boosting blue-chips such as Larsen & Toubro.  Full Article 

REUTERS SHOWCASE

Indian Economy

Indian Economy

India's fiscal deficit in H1 almost 83 pct of full-year target.  Full Article 

M&M Earnings

M&M Earnings

M&M Q2 net profit down 4 percent, hit by poor monsoon.  Full Article 

Ban on E-Cigs?

Ban on E-Cigs?

Govt considers ban on e-cigarettes, sale of single smokes.  Full Article 

Commodities

Commodities

Silver futures in India hit four-year low on global cues.  Full Article 

BOJ Policy

BOJ Policy

BOJ shocks markets with surprise easing as inflation slows.  Full Article 

Shadow Banking

Shadow Banking

China's shadow banking sector growing rapidly, third largest in world - FSB.  Full Article 

Reuters India Mobile

Reuters India Mobile

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