President of Cote d'Ivoire
When anyone speaks about investment into Africa, China comes to mind. It’s the familiar and contentious story of a developing power drawn to a resource-rich continent.
But now another growing economy, India, is eyeing Africa – and India’s most prominent industrial house, Tata group, is leading the pack. Continue reading »
Though AirAsia’s flamboyant chief executive, Tony Fernandes, seemed to have taken it for granted, it’s a groundbreaking decision for the industry.
The joint venture between AirAsia, the Malaysia-based budget airline, and Indian conglomerate, Tata Sons, has been approved by India’s Foreign Investment Promotion Board.
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When New Delhi decided last September to permit foreign airlines to own up to 49 per cent of domestic Indian carriers, the aim was to encourage an infusion of foreign capital to help its heavily-indebted incumbent airlines strengthen their weak balance sheets – and expand their services.
But instead of a foreign lifeline, India’s air carriers are now confronting the prospect of intensified competition, after AirAsia, the Malaysian low-cost carrier, announced plans to set up a brand-new, start-up Indian carrier, with financial backing from India’s Tata Group. Continue reading »
Source: Tata Sons
JRD Tata (pictured) is known as the man who ran India’s largest conglomerate for 53 years. He was also the first person to qualify as a pilot in India and launched the country’s first carrier in 1932 – Tata Airlines – which was later nationalised.
Now, Tata Sons is going back to aviation. Continue reading »
Cyrus Mistry is stepping into big shoes – and he’s begun flexing his toes, announcing an ambitious investment plan. Continue reading »
In few countries would the opening of a coffee shop be treated as headline news, but that’s exactly the treatment Starbucks’ 4,500 square foot flagship Indian store in Mumbai received on Friday.
Throngs of journalists converged on the restored heritage building owned by the company’s local 50:50 partner, the Tata Group, to mark the entrance of the Seattle-based coffeehouse into the traditionally tea-drinking subcontinent. Continue reading »
Lakshmi Mittal and Anish Kapoor with Kapoor’s design for the ArcelorMittal Orbit
As discussed in Wednesday’s FT Notebook, India has a uniquely dreadful Olympic record, consistently earning an unwelcome title as the world’s worst performer at the games and frequently returning empty handed. But this time things might be different – and if they are, some of the nation’s most recognisable corporate titans can take a least some of the credit. Continue reading »
The Tata Group’s incoming head, Cyrus Mistry, made his first major hire on Tuesday in the form of Madhu Kannan (pictured left), head of the Bombay Stock Exchange.
As the FT reported, for Tata, Kannan will bring emerging market expertise and, at 38, a relatively young perspective to the fusty halls of Bombay House as Mistry’s new right hand man. But Kannan leaves behind him a bourse that, while vastly improved from when he joined it in 2009, still has a long way to go to become the globally-integrated – and relevant – stock exchange he envisioned and India needs. Continue reading »
As BP, the British energy giant, back-peddles on its global solar energy initiatives, Tata Power, its Indian partner, is only too happy to buy out its 51 per cent stake in their 22-year old joint venture, Tata BP Solar.
Though the value of the buyout remains undisclosed, Anil Sardana, managing director at Tata Power said in a statement it is a “great opportunity for the company to grow and capture market share” in a country that hopes to generate up to 7 per cent of its electricity, and power a million of its homes, using solar energy by 2022. Continue reading »
India’s English-language news channels broke into regularly scheduled programming and news websites splashed it as their top story: India’s most famous family-owned company had finally named a successor to 74-year-old chairman Ratan Tata, one of the country’s most respected industrialists.
The decision to appoint Cyrus Mistry, the 43-year-old son of construction billionaire Shapoorji Mistry, who is the largest single shareholder in the Tata grouping, came as a surprise to many. Continue reading »
The long search for a replacement for Ratan Tata, at the head of the Tata group has come to a surprise conclusion. Instead of the widely-tipped Noel, Ratan’s half-brother, India’s largest grouping have chosen a relative unknown.
As Jonathan Guthrie, FT city editor reports, Cyrus Mistry, a 42-year-old, educated at London Business School, will shadow Mr Tata, 73, for a year before taking over in late 2012.
Granted, it was always meant to be the jewel in Tata Motors’ crown, but this might be taking it a bit too literally.
Tata Motors on Monday unveiled the Goldplus Nano – a one-off showpiece version that sees “the People’s Car” encased in 80kg of 22 carat gold, 15kg of sliver and 10,000 semi-precious and precious stones. Continue reading »