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

Deal Talk

REUTERS SHOWCASE

State Elections

State Elections

Modi's BJP makes big gains in state polls.  Full Article 

POSCO Plant

POSCO Plant

India delays decision on iron ore licence for POSCO's $12 bln plant.  Full Article 

HCL Tech Results

HCL Tech Results

Quarterly profit up 32 percent, shares fall   Full Article 

Ebola Vaccine

Ebola Vaccine

GSK says Ebola vaccine development progressing at "unprecedented rate".  Full Article 

Health Check

Health Check

Credibility meets compromise in Europe's bank stress test.  Full Article 

Photo

Legal Reforms

Companies look for more fairness as China eyes legal reforms at key meeting.  Full Article 

Gold Smuggling

Gold Smuggling

With seizures up, Indian gold smuggling loses its shine  Full Article 

Reuters India Mobile

Reuters India Mobile

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