Beijing: The Tata group is scouting for opportunities to invest in China’s automobile,  hospitality, steel and telecom sectors apart from consolidating the existing venture in  information technology, group chairman Ratan Tata said here on Thursday. 

“In Tatas, we consider China to be a very important partner in our plans to internationalise our  operations,” Mr Ratan Tata said at a press conference to mark the first year of operations of  Tata Consultancy Services (TCS) in China. 

“Therefore, apart from the commitment which we have already made where we intend to grow in  information technology, we also are looking at investments in China in the hospitality area, in  steel and in the automobile sector,” he said. 

Mr Ratan Tata, who has visited Shanghai and Hangzhou cities so far, declined to give specific  information regarding the group’s planned investments in China. 

“As far as steel is concerned, we are talking to some Chinese steel producers about  collaborating,” he said, adding that potential venture could include ship intermediary products  from India and finish in China. 

In the telecom sector, the group is looking at hardware and at Chinese operators for investing in  India, while in the automobile sector, Tata is looking at exporting, importing automobile  components from China and even joint development of automotive products. 

“We are talking to some Chinese companies,” he said. 

In the hospitality sector, the group is looking at the prospect of starting a hotel venture in  China. 

“We are looking at both countries together. We are not investing in China for China. It has to  make business sense to both sides,” he said. 

“While many may consider China and India as competitors, we would consider China to be a very  source of partnerships between our groups and companies in China,” Mr Ratan Tata said. 

Noting that the combined population of China and India totalled over two billion people, he said  it was “one of the greatest opportunities” that exists between the two neighbours as they offered  an enormous market and a big pool of skilled workers. 

“Tatas would therefore like to commit ourselves to making an investment in China and would also  like to exploring ventures where Chinese companies would like to invest in India, promoting  two-way investment and trade between the two countries,” he said. 

“We therefore hope that rising from this visit, which is only the start, we can come closer to  China and that the Tata group can find a place in the Chinese scene in the long-term on a  mutually beneficial basis and the two countries can achieve a great deal of success together,” he  said. 

On TCS plans, he said it will go for a public offer in the domestic market in “near future” and  list its shares in the US. 

“Well, I think I will be on dangerous grounds if I comment on when we are going to have the  public offering. I think it is public knowledge that we are on our way to have a public offering  and the process is underway,” he said at a press conference here. 

Mr Ratan Tata said “the markets are excited and seem to be rising; therefore I would say that it  (the public offering) will be in near future”. 

To a question on the date of the offering, he said “you would see a public offering in near  future. I am afraid I cannot comment on that (exact date)”. 

Asked about reports of an apparent delay in the offering, he said “there has not been a delay. It  has been a conscious postponement driven basically by downturn in the technology stocks. In  hindsight, we are pleased with the delay”. 

TCS, the first Indian IT giant to enter China with a wholly-owned foreign enterprise, has completed one year of operations here. 

The company is bullish on the Chinese market and its state-of-the-art software development  facility in Hangzhou city in East China hasalready started moving at a fast pace with 150  professionals.