The Tata Group name has long been a symbol of the Indian industry. This Bombay company encompasses such business sectors as metallurgy, energy engineering, automobile industry and information technologies, which should bless Tata for their development.
The dynast Jamsetji Nusserwanji Tata managed to combine romanticism with pragmatism. He was born in 1839 into a rich Persian family. Tata got excellent education and travelled much around Europe and Asia studying the business twists and turns. In 1868 he established his first trade company with the start up budget of 21 000 rupees.
In more than 100 years (in 1999) Ratan Tata (a remote relative to Jamsetji Tata) finally managed to make the longstanding dream of the Tata’s founder come true – marketing of the first fully Indian car called Indica, which cost as little as $ 5100. The model had been much criticized by the customers but in half a year most of the faults were fixed and the world saw its revised V2 version. Today this truly people’s car takes the third place according to the total car sales in India.
The beginning of Ratan Tata’s era coincided with the start of economy deregulation in India that allowed the Tata Group to launch the international expansion. In 2000 the Tata Tea paid $435 million for the British Tetley Tea. Later Tata purchased the Korean Daewoo subdivision, producing trucks, for $102 million.
The summer of 2004 became a key milestone for the Tata Group history. In July the company celebrated the 100 anniversary of Jetangira Tata’s birth on a large scale. In August one of the Tata Consultancy Services Group’s companies entered the stock exchange and managed to sell shares amounting to $1,2 billion. It was the biggest IPO in the history of Indian business.