India’s domestic economy may be a bit subdued these days, but some 700 India-based companies operating in the UK are driving job creation – with many of the Indian-parented UK companies growing at more than 10 per cent annually.
According to new research by Grant Thornton, a UK auditor, UK companies owned by an Indian parent employ more than 100,000 people in total. A dozen of the companies employ more than 1,000 people each.
The 41 fastest growing companies in that list are growing more than 10 per cent year-on-year in terms of turnover, with 26 expanding at a rate of more than 20 per cent annually, including Infosys subsidiary Lodestone, Essar Energy, Tata Communications and Tata Consultancy Services subsidiary Diligenta. Continue reading »
Photo: Tata Motors
When you are in a hole, stop digging. Don’t flog a dead horse. There are all sorts of sayings that might apply to the Tata Nano.
And yet, and yet… on Monday, Tata Motors unveiled the latest version of the ultra-cheap car that was the brainchild of former chairman, Ratan Tata. The new incarnation, the somewhat appropriately-named Nano “Twist”, is another attempt to revive sales – and it doesn’t look too promising. Continue reading »
Cut out Jaguar Land Rover, the luxury British carmaker Tata Motors acquired back in 2008, and the Indian group is unrecognisable.
In the three months to September, Tata Motors made a loss after tax of Rs8bn ($128m) on a standalone basis – down from a profit of Rs8.7bn in the same period last year. Continue reading »
Tata Motors is trying to stoke demand in the waning passenger vehicle segment by rolling out a slew of revamped models.
But will it work? Continue reading »
SUVs have emerged as the darling of the Indian auto industry – sales have grown while the wider sector lags and the launch of new models has spurred interest.
But all the excitement around these oversized, road-hogging status symbols may be on pause for a while. In the month of April SUV sales actually fell in India. Continue reading »
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 »
Falling sales, excess inventory at dealerships and an increase in taxes – India’s Tata Motors had to take action.
On Tuesday, India’s largest car producer slashed the price of its Manza models by up to almost Rs50,000 ($912), bringing the starting price for the range down to Rs599,500. Continue reading »
Without wanting to roll out all the driving puns, India’s auto industry is, well… stalling.
Until now, Indian car sales had been able to withstand slowdown in the wider economy. No longer. Continue reading »
Volvo plans to invest nearly $700m in its Indian operations, in a sign the Swedish company plans to compete in the country’s growing commercial vehicle market. Continue reading »
After Tata Motors propped up the ailing Jaguar Land Rover – through a 2008 acquisition that was questioned by many – the British automaker is returning the favour, propping up its Indian parent in the quarter ended in June, according to results released on Thursday. Continue reading »
Tata Motors’ $2.3bn 2008 purchase of Jaguar Land Rover continues to pay off. The luxury carmaker propped up the company’s quarterly results on Tuesday, more than doubling net profits, even as its Indian operations were weak.
Tata reported consolidated net profits for the quarter ending in March of $1.12bn, up 136 per cent from $474m during the same period last year, on revenues of $9.1bn. Continue reading »
After a strong February, March was another a good month for car sales in India, as buyers sought to beat an excise duty increase that came into effect at the start of the new fiscal year on Sunday.
But whether the recent rally will last is another matter. With the new excise duty now in place, the industry will be watching closely to see how the broader economy performs and what decision the Reserve Bank of India takes on interest rates later this month. Continue reading »
Three bits of proof on Wednesday, if more were needed, that for most carmakers China is crucial to survival – let alone success.
First, Jaguar Land Rover announced a joint venture with Chinese manufacturer Chery. Then BMW and Volkswagen took hits to their share prices on negative comments about their China sales. And finally, Skoda (a VW unit) announced a boost in profits, driven by Russia and India – and China. Continue reading »
Tata Motors launched the Nano – the $2,000 “people’s car” – to great fanfare in 2009, only to produce dismal sales in the ensuing three years. As the FT reported, many analysts blamed the failure of the car on mishandled marketing. As one executive at a rival auto company put it: “Nobody wants to buy the world’s cheapest car.”
But Tata, it seems, is preparing to relaunch the Nano in the next few years in various higher-end – though not “high-end” – permutations. Continue reading »
Indian car sales seem to be picking up after a lackluster 2011, according to February sales data from the country’s biggest car makers.
But while some of the numbers are impressive – with individual company sales rising 80 per cent or more from a year earlier – analysts cautioned that a few more months were needed before the improvement could be called a comeback. Continue reading »