Tata leaps into foreign markets
India's leading automobile and household appliance manufacturer, Tata Group, announced plans to invest in operations abroad in an effort to increase income from foreign sales.
Overseas sales currently make up 20% of the company's overall income. Tata would like to increase that percentage to 30.
The group's foreign expansion program covers plans to invest up to $2 billion to establish steel mills, fertilizer factories and power plants in
Bangladesh, as well as
investments in iron mines in
Australia,
Brazil and
Ukraine.