Tata group's overseas biz grows 80%

The Tata group has recorded 80 per cent growth in its international business last year. The group, having presence in six continents, generated 35 per cent of its total turnover of $23 billion, amounting to $8.05 billion, from overseas markets against the previous year's $4.47 billion.

In fact, the international business of the group has been on the rise for the past few years. The growth was 250 per cent over the last four financial years beginning 2002-03. The overseas business stood at $3.23 billion in 2003-04 and $2.4 billion in 2002-03.

Five companies namely Tata Motors, Tata Tea, Tata Consultancy, Tata Steel and Tata International contributed 90 per cent of the global business of the group.

Of these, the first four companies are listed with the stock exchanges. The closely-held Tata International is the international business gateway of the group and it is the country's one of the largest trading companies.

The group operates through 93 companies in seven business sectors. It holds leadership positions in many industry segments, including tea, software, automobiles, energy and hospitality.

The group chairman, Ratan N Tata, seems to be satisfied with the group's presence in the overseas markets where it has invested $4 billion for acquisitions alone.

In the latest issue of the group's in-house journal 'Tata Review', he said, "I think there is no doubt that we have gone beyond the shores of India to a greater extent, in fact, than I had expected and in a shorter period of time."

The group had set a target of going global not just to increase its turnover but to go places where it could create a "meaningful presence" and where it could participate in the development of the country.

"We have endeavoured to play that role in places such as Bangladesh, South Africa, Sri Lanka, Dubai and Singapore," he added.

It may be recalled that Tata, in 2004, expressed the hope of spreading the group's wings beyond India carrying the same sense of trust.