Tatas aim for 60% revenue from overseas operations
The Tata Group expects to earn nearly 60 per cent of its revenue this year (38 per cent last year) from its overseas operations following the acquisition of Corus Steel in UK.
According to Mr Alan Rosling, Executive Director, Tata Sons Ltd, the Group’s turnover is expected to increase to $50 billion from $29 billion last year.
Talking to reporters at the sidelines of India-UK conference, Mr Rosling said the UK contributes 15 per cent of the overseas revenues and the country has replaced US as the group’s largest overseas market.
Tatas, which established its first office in the UK 100 years ago, now has 18 companies operating in the UK including TCS, Tata Tea, Tata Chemicals, Tata Motors and Indian Hotels, which owns the Taj group of hotels.
Responding to a question on large overseas investments by the group, Mr Ratan Tata, Chairman of Tata Group, said the Group has been making more investment in India. He said overseas deals are talked about more, but the group companies have been investing in various sectors in India.
