Corporate India forced to look for growth away from home: Ratan Tata
08 December 2012
More and more Indian companies are looking away from home and to geographies around as growth at home stymies and an unhelpful government wavers on policy decisions, the Financial Times said quoting outgoing chairman of the Tata Group, Ratan Tata.
In an interview with the Financial Times, Ratan Tata said it is the government's inaction that is driving investors away.
''You start looking for geographies where you can make a difference,'' he said.
Tata said the focus would be in emerging markets like southern Africa and elsewhere in Asia, including neighbouring Bangladesh and Myanmar. However, he said, there would not be a repeat of deals like the Corus acquisition.
Ratan Tata, who is due to retire at the end of this month, said his successor Cyrus Mistry and other group chiefs will find it very difficult to uphold and preserve the group's ethics in such a hostile climate.
''They would have to stay away from compromising and surrendering to a venal system,'' he said.