Tatas looks to UK markets for growth

3 October 2007:

After its successful takeover of steel giant Corus, the Tatas are eyeing the United Kingdom for inorganic growth.

The Tata group's $13 billion investment to acquire Corus Group Plc, earlier in 2007, is the largest by any business house from India. The group is said to be currently doing a brand-building exercise in the UK as the country is seen as a gateway to doing business in Europe as well as rest of the world. The Tata group has appointed the financial public relations firm Financial Dynamics (FD) for the brand-building exercise.

With the UK being the largest market for the group after India, generating revenue worth more than $7 billion per year, the Tata group sees a lot of growth potential in the UK. The possibility of the Tata group bagging the Jaguar-Land Rover deal may be seen in this context. The turnover is expected to rise to close to $10 billion by year 2010. Besides steel, the company is already present in sectors like IT, chemicals, telecom, auto, and consumer products in the country.

The growth prospects is more likey to take the inorganic route, and acquisitions of more entities are expected in the days ahead. However, the Indian major is particular that there has to be a definite India-advantage for any deal to be inked.

Meanwhile, related reports said that the Tatas may relaunch its Tata Indica car model in the European market. The company would then look at putting in place a solid dealer network in the UK on this front. It may be noted that the company had earlier launched the Indica in partnership with MG Rover in the UK but it had failed due to high costs.




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