Word: ratan
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Dates: during 2000-2009
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...Carmakers aren't just targeting India. Tata Motors has plans to export its econobox to Southeast Asia and Africa as well. Ratan Tata, the chairman of Tata Motors' parent company, Tata Group, believes they can eventually sell as many as a million cheap cars a year worldwide. That may be a realistic assessment. Globally, up to 3.7 million of such vehicles could be sold annually within the next few years, mostly in fast-growing markets like Brazil, China, India and Russia, says Abdul Majeed, a partner at PricewaterhouseCoopers in Chennai (formerly Madras). "It's all about affordability and fuel efficiency...
...that Ratan Tata finds the rich uninteresting--after all he's one of them. No, it's more the case that he finds the opportunities to be richer at the bottom end of the consumer universe. "Everyone is catering to the top of the pyramid," says the 69-year-old at his office in Bombay House, the Tata group's elegant Edwardian headquarters in India's business capital. "The challenge we've given to all our companies is to address a different market. Pare your margins. Create new markets...
...Anglo-Dutch steelmaker Corus agreed last month to an $8 billion takeover bid by Tata Steel. The deal is the largest-ever Indian acquisition of a foreign firm, and it will catapult Tata from the world's 56th largest steel producer to the fifth. "All credit goes to Ratan Tata," says Sanjay Bhandarkar, managing director of the N.M. Rothschild private bank in India. "He clearly has a vision and knows what he's doing...
...When Ratan took over from J.R.D. in 1991, reform was on the way and state-sponsored monopolies were on the way out. The new chairman saw the need to overhaul the firm's culture. He ordered each company to meet performance targets--to be No. 1 or No. 2 in its market--and to meet quantified goals for leadership and innovation or be sold. Tata Steel, for example, shed half its 78,000 workers between 1994 and 2005. "The Tata group's relationship with its employees changed from the patriarchal to the practical," reads the Tata code of honor, which...
...When Ratan Tata, chairman of Indian conglomerate Tata Group, spoke to TIME earlier this year, he urged his countrymen to dream big. India, he said, should "be bold. It must look at the future ... It must look big, and look out." Last week he showed just what he meant: Tata Steel, part of his sprawling $22 billion empire, made an $8 billion bid for the Anglo-Dutch steel manufacturer Corus. The deal, accepted by Corus' board last Friday, creates the world's fifth-largest steel company and is the largest Indian takeover of a foreign company ever...