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

   

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

Consumer Confidence Index

REUTERS SHOWCASE

Deal Talk

Deal Talk

Exclusive - Lupin, U.S. firms weigh bids for GSK's mature drugs: sources  Full Article 

Classifying Banks

Classifying Banks

RBI to start announcing too-big-to-fail banks in Aug 2015  Full Article 

Corruption Probe

Corruption Probe

India to probe corruption in healthcare after TV sting.  Full Article 

Food Scandal

Food Scandal

Starbucks, Burger King dragged in as China food scandal spreads.  Full Article 

Bigger iPhones

Bigger iPhones

Apple asks suppliers to produce up to 80 mln large-screen iPhones - WSJ.  Full Article 

Bali Trade Deal

Bali Trade Deal

India keeps world guessing in countdown to landmark trade pact deadline.  Full Article 

Bangalore Sex Abuse

Bangalore Sex Abuse

Modi's BJP puts political twist on local sex abuse case   Full Article 

Yahoo to buy Flurry

Yahoo to buy Flurry

Yahoo to buy analytics startup Flurry to bolster mobile ad business.  Full Article 

Wholesale Biz

Wholesale Biz

Wal-Mart adds $102.9 million in Indian wholesale business in June.  Full Article 

Reuters India Mobile

Reuters India Mobile

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