Tata assembles buses in Africa, serves kebabs at London’s ritzy Bombay Brasserie, sells cheap bags of salt in Indian supermarkets, and makes Jaguar Land Rover luxury cars, among much else. Photo: BloombergMumbai/New Delhi: The Tata Group sees potential for significant growth in financial services without relying on acquisitions, as India’s largest conglomerate looks to sharpen its focus on about half a dozen businesses. “Both our insurance business and non-banking finance company have got a huge opportunity to grow,” Natarajan Chandrasekaran, chairman of group holding company Tata Sons, said Monday in an interview to BloombergQuint at the World Economic Forum in Davos, Switzerland. During his 11-month tenure as head of the group, Chandra has sold Tata Teleservices Ltd’s unprofitable wireless business and agreed to merge Tata Steel Ltd’s European steel assets with those of Thyssenkrupp AG. Activity in the nation has been disrupted by the government’s 2016 cash ban and last year’s disruptive roll out of a nationwide goods and services tax.

Source: Mint January 23, 2018 03:45 UTC