Tata plans to invest over $8 billion over two years

MUMBAI Wed Jan 2, 2013 9:30pm IST

A worker cleans a Tata Motors vehicle inside the company's showroom on the outskirts of Agartala, capital of Tripura, November 7, 2012. REUTERS/Jayanta Dey/Files

A worker cleans a Tata Motors vehicle inside the company's showroom on the outskirts of Agartala, capital of Tripura, November 7, 2012.

Credit: Reuters/Jayanta Dey/Files

Related Topics

Stocks

   
Priyanka Gandhi Vadra, daughter of Congress party chief Sonia Gandhi, adjusts her flower garlands as she campaigns for her mother during an election meeting at Rae Bareli in Uttar Pradesh April 22, 2014. REUTERS/Pawan Kumar

Election 2014

More than 814 million people — a number larger than the population of Europe — are eligible to vote in the world’s biggest democratic exercise.  Full Coverage 

MUMBAI (Reuters) - India's salt-to-software conglomerate Tata Group plans to invest more than 450 billion rupees over the next two years, its newly appointed Chairman Cyrus Mistry wrote in an internal mail on Wednesday.

Mistry, who has taken over as chief of India's biggest corporate grouping from Ratan Tata, did not elaborate on the investment plans in the mail to employees that was seen by Reuters.

"With a sustained focus on policy stability and implementation, I believe that India would continue to be an attractive investment destination," he said in the mail, referring to the government's recent economic reform measures.

"I look forward to our group playing its role in continuing to invest in the Indian growth story."

Mistry was named chairman designate in November 2011 and his appointment was formally announced by the board of Tata Sons, the group holding company, last month.

The $100 billion Tata Group includes Tata Motors (TAMO.NS), owner of the Jaguar and Land Rover brands and maker of the Nano, the world's cheapest car, as well as Tata Consultancy Services (TCS.NS), Tata Steel (TISC.NS) and dozens of other companies.

Mistry said in the mail the group would seek to expand its global presence with a focus on emerging markets in Asia, Africa and parts of Latin America.

(Reporting by Devidutta Tripathy and Sumeet Chatterjee; Editing by David Holmes)

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

Oil Imports

Oil Imports

India to make May-July oil payments to Iran - sources.  Full Article 

DLF Shares

DLF Shares

DLF slides 3 percent, underperforms rivals.  Full Article 

Global Economy

Global Economy

Chinese factories stalling as euro zone business picks up  Full Article 

Rupee Falls

Rupee Falls

Rupee falls for third day; foreign fund inflows key.  Full Article 

Record High

Record High

BSE Sensex hits record high for third straight day.  Full Article 

M&M Upgraded

M&M Upgraded

Credit Suisse upgrades Mahindra & Mahindra to 'outperform'  Full Article 

Breakingviews

Breakingviews

Manchester United’s crisis has silver lining  Full Article 

Reuters India Mobile

Reuters India Mobile

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