Business house Tata Group is looking at pumping in money into the domestic market by investing up to Rs 1.2 lakh crore in the next 5 years reports IBNLive.com. The major Tata group entities include Tata Steel, Tata Motors, Tata Consultancy Services, Tata Power, Tata Chemicals, Tata Global Beverages, Indian Hotels and Tata Communications.
"We have become a significant player globally in each of the sectors that we are present in. In the next 5 years, the pace of growth of the group will continue," said Tata Industries managing director Kishor A Chaukar.
The group which has over 90 companies is planning investments in sectors ranging from power to steel and automobiles.
"Rs 12,000 crore will be invested by Tata Motors and Rs 8,000 crore-Rs 10,000 crore will be in the telecommunications division," he added.
Chaukar said the Mumbai-based conglomerate has already invested about Rs 70,000 crore in the last three years and Rs 1.2 lakh crore would be in addition to this.
The group has expanded to nearly USD 68 billion from about USD 8 billion 10 years ago and it will maintain such growth, he said. “The funding for this investment initiative will be through a mix of internal accruals and debt.”
"We are generating a considerable amount of internal accruals and at the same time also reducing current debt, which will enable us to raise debt. For this investment, the debt and equity ratio will be around 2:1," Chaukar said.
Asked whether Tata Group is looking for further acquisition, Chaukar said as and when opportunities arise, they would look at it. The group has operations in over 80 countries across six continents and its companies export products and services to 85 countries.
The group, which employs around 3.95 lakh people across the world, is present in seven sectors -- communications and information technology, engineering, materials, services, energy, consumer products and chemicals.
Source-moneycontrol.com
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