IFC identifies Tata Group as a southern multinational
15 Nov 2005
Mumbai:
The International Finance Corporation has identified the
Tata Group as one of the emerging `southern multinationals.''
At present exports contribute 18 per cent of the group''s
total revenues and the company is targeting to reach 20
per cent by next year.
Currently, overseas business, growing by 37 per cent annually, accounts for 25 per cent of the group''s revenues of US$18.2bn. The group expects this to be 35 per cent by 2010.
Tata Consultancy Services, Tata Motors and Tata Steel will be the drivers of the growth in overseas business. Though the Tata Group''s priority is to strengthen its position in India by taking advantage of the growing opportunities within the country, group companies are expanding overseas operations in line with the group''s international strategy, the official said.