The Tata group has drawn up a strategy to focus on expanding its business globally during the current calendar year. Stating this in a message delivered to the group employees, Tata group chairman Ratan Tata said, “This is an important new phase in the group’s growth plans.” 

Mr Tata said the group’s goals for the year would be to achieve significant further turnover growth, with substantial improvement in profits through consistently providing high-quality products and services, and a total commitment to better serve customers, while at the same time maintain high ethical standards and values. 

On the road to globalisation and venturing into new frontiers, Mr Tata said, “This year, we will also be focusing on expanding our businesses internationally. This will demand that our products and services are globally competitive and that our enterprises operate to international standards in terms of quality and customer service.” 

While a majority of the Tata group companies have established their presence overseas, others have already kicked off plans for venturing into new frontiers. Tata Steel, which is considered as one of the lowest-cost steel producers in the world, is poised to make the entire world a playing field. The company plans to take the acquisition route to globalisation in the immediate future. 

Similarly, Tata Motors has set a new direction to the globalisation of the Indian auto industry by entering into an agreement with Rover UK besides foraying into new markets like Sri Lanka and Malaysia. This has given the company quick access to the European market with a huge distribution network. Now, the company plans to enter new markets like China and CIS countries. Indian Hotels Company Ltd (IHCL), which owns the Taj Group of Hotels, has already chalked out a strategy to expand its operations internationally, focussing mainly on premium properties. As a part of its overseas expansion plans, IHCL is adding six new properties in different locations around the world, thereby increasing the number to 18 by 2005. 

The Tata group hit the high note in 2003 as Tata Consultancy Services, Tata Steel, Tata Motors, Tata Teleservices, Titan, Tata Tea, Tata TD Asset Management and Trent, among others, delivered good performances. 

Mr Tata added, “The past year has been a good year for India and the Tata group. The whole Indian economy has displayed strong growth and the Tata group has achieved record heights in turnover and profits. These achievements reflect your individual contribution through your commitment and dedication to your company and to your group. Our group restructuring initiatives, our greater group cohesiveness, our quality improvement goals, our quest for better corporate performance and greater customer satisfaction have all begun to show results.”