Tata group’s deglobalization woes spotlight Reliance’s domestic focus5 min read . Updated: 28 Jun 2016, 03:16 PM IST
A series of setbacks over recent months have placed a question mark over the Tata group's avowed aspiration to be a global conglomerate
A series of setbacks over recent months have placed a question mark over the Tata group’s avowed aspiration to be a global conglomerate. Tata Steel’s travails in Europe have been well documented. Briefly it has had to write off almost the entire investment it made in buying Corus Group in 2007. And just when it seemed some of the red ink would be stanched by the relative success of Tata Motors’ investment in Jaguar Land Rover, Brexit stuck, casting some doubts over the future of UK’s largest private employer. Not surprisingly, following the referendum, Tata Motors Ltd’s stock dropped the most since 2012. Even the jewel in the Tata crown, India’s largest software exporter Tata Consultancy Services Ltd, faces severe headwinds with 28% of its revenues last year coming from Europe.