Minutes after tycoon Ratan Tata abandoned a two-year quest to build the world’s cheapest car in West Bengal over farmer protests, he got a text message from the frontrunner to be India’s next leader: “Welcome to Gujarat.”
Cyrus Mistry, chairman of India’s Tata group, is planning to spend at least $8 billion building roads, airports and housing, betting a stable administration after India’s coming elections will lead to a new wave of infrastructure development.
Tata Sons Ltd. Chairman Cyrus Mistry, chasing his predecessor’s vision of boosting revenue fivefold in the next decade, is searching for a head of mergers and acquisitions, a person familiar with the plan said.
Tata Steel Ltd., India’s biggest producer of the alloy, plans to raise about 260 billion rupees ($4.7 billion) in loans to fund its first new mill in a century, two people with direct knowledge of the deal said.
Tata Motors Ltd., maker of the world’s cheapest car, is turning to China to buy autoparts unavailable in India as it seeks to offer vehicles with automatic transmission at home, Chairman Ratan Tata said.
Two weeks into his new role, Karl Slym, managing director of Tata Motors Ltd. plans to scrap models and change perceptions about quality as India’s biggest automaker struggles to stem losses in market share.