Tatas to invest Rs 45K cr in 2 yrs: Mistry
Without detailing the sector, Mistry in his first general mail to all Tata group companies wrote plans have been put in place for additional investments in excess of Rs 45,000 crore over the following two years. Mistry also expressed confidence that with the sustained focus on policy stability and implementation, India would retain its attraction as an investment destination.
The new chairman’s endoresement of the India story is significant as India’s largest industrial group now derives over 60 per cent of its revenue from operations abroad. He however, also indicated his plans to expand the group’s global presence. “Apart from India, we will be required to work to both deepen and widen our global engagement with an emphasis on emerging markets in Asia, Africa and parts of Latin America, adding to our existing presence in Europe and America,” he wrote in his letter.
“Handing over of the responsibility of Chairmanship brings with it the winds of change, but the core of the Tata Group must and will remain unchanged. Without this core DNA that is uniquely Tata, there is nothing to differentiate us from our peers,” Mistry wrote.
“At this moment of transition, I am counting on the support which you have so wholeheartedly given through the years, in good times and when adversity was upon us. For my part, I pledge to work alongside you,
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