Tata Chairman Doesn’t Sweat the Timing on Global Expansion
By PAUL BECKETT / WSJ
MUMBAI—During his 18-year tenure as chairman of India’s venerable Tata Group, 71-year-old Ratan Tata has led a drive to expand internationally, a strategy India’s other sprawling companies seek to emulate.
With annual revenue above $70 billion, Tata Group now derives 65% of its sales outside of India and employs 357,000 people world-wide. It has interests in tea, hotels, cars, steel, chemicals and information technology, among others.
Dhiraj Singh for The Wall Street Journal
Ratan Tata says acquisitions made before the recession will look worthwhile after the economy recovers.
But the last two years have been among its rockiest as the company, which was founded in 1868, swallowed two big overseas acquisitions just in time for a global financial crisis.
Tata Steel bought Anglo-Dutch steelmaker Corus in 2007 for $12 billion while Tata Motors Ltd. paid $2.3 billion to buy Jaguar and Land Rover from Ford Motor Co. in 2008, two pricey deals that put heat on Mr. Tata, who is a descendant of the conglomerate’s founder.
