Tata group to invest more than Rs45,000 crore in India

Tata group will make additional investments of Rs45,000 crore over the next two years in India, as the government's recent emphasis on policy clarity and renewed thrust on economic reforms make the country an even more attractive investment destination.

''Our commitment to India is intact,'' Cyrus Mistry, 44, who took over as the chairman of Tata group from Ratan Tata, who retired on 28 December, said in a mail to employees.

''As a group, we have over the past three years invested over Rs50,000 crore across our various businesses in the country, in the process creating primary employment for over 85,000 persons while generating many more secondary and tertiary jobs,'' he said, adding ''I look forward to our group playing its role in continuing to invest in the Indian growth story''.

The group would also continue to expand to global destinations, he said.

''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,'' the letter said.

Mistry also said the 'core of the Tata group' will remain unchanged despite change in its leadership and asked the group companies to play leadership roles in their respective businesses.