Tata Group is one of the biggest investors in the country when it comes to the ‘Make in India’ initiative and the company has identified electronics, defence, aerospace, auto and renewable energy as their thrust area for growth. According to Cyrus Mistry, Chairman, Tata Group, the company will make significant investments in these areas.
“When Sikorsky Aircraft Corp, one of the world’s premier aircraft manufacturers and part of the US-headquartered United Technologies Group, decided to relocate the fuselage manufacturing facility for its S-92 helicopter out of Japan, it selected India as the place to produce this crucial sub-assembly component. Tata Advanced Systems Ltd (TASL), Sikorsky’s joint venture partner, set up a greenfield facility in Hyderabad for this purpose.” Mistry said in an internal communication to employees ahead of the scheduled annual general meetings of around 100 group companies.
The group is expecting it defence and aerospace business to surge its earnings by 7.5 per cent to Rs 2,650 crore in 2016-17.
Automobiles is another growth area that Tata Group is looking at. “India is expected to emerge as the world’s third-largest automotive market by 2016, accounting for more than five per cent of the global vehicle sales,” said Mistry, adding, similar opportunities exist in electronic systems design and manufacturing (ESDM) and in renewable energy, as well.
By Atanu Kumar Das
