HomeMMBIZ NewsMyanmar, Russia in Tata Group’s Sights for Growth Opportunities

Myanmar, Russia in Tata Group’s Sights for Growth Opportunities

India’s Tata Group has identified at least a dozen countries ranging from Russia to Myanmar for growth opportunities, according to its in-house magazine.

“We undertook an exercise to identify 12-16 other attractive markets where we are looking for growth over the next eight years,” Madhu Kannan, a Tata Sons Ltd group executive council member, said in an interview in Tata Review. Russia and Egypt may provide significant future returns, he said.

Other countries mentioned included Canada, Germany and Japan among mature economies, and Vietnam and Nigeria in the emerging world.

Tata Sons Chairman Cyrus Mistry said in July that the company is planning to spend $35 billion on developing existing businesses and building new ones as he expands the $103 billion coffee-to-cars conglomerate.

Tata didn’t specify where it will spend the money.

Early examples of overseas growth are Tata Power Co’s entry into Vietnam and Tata Consultancy Services Ltd’s focus on Japan, Tata Sons said in an e-mailed response to questions.

“If someone has enough capital to withstand volatility, it’s a good time to invest in risky countries such as Russia,” said Jagannadham Thunuguntla, head of fundamental research at Hyderabad-based Karvy Stock Broking Ltd.

“It’s a continuation of their internationalisation drive.”

Under Ratan Tata, who retired in December 2012 after two decades at the helm, Tata Steel Ltd acquired the UK’s Corus Group Plc for $12.9 billion in 2007, followed by Tata Motors Ltd’s buyout of Ford Motor Co’s Jaguar Land Rover brands a year later for $2.3 billion. (Bloomberg)

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