Indian business giants Tata Group is now looking forward to expand in Africa, through its various business ideas. The group is expecting its revenue from Africa to grow by about 30 percent every year, from the current level of USD 2.3 billion.
Tata is looking forward to setting up new assembly facilities with the help of local partners in countries like Tunisia and Kenya. Moreover, the group’s hospitality chain Taj Hotel Resorts and Palaces is also considering proposals from another three to four countries to set up new properties.
Mukund Govind Rajan, the Tata Sons Ltd Brand custodian and chief ethics officer said, “The business models which work in India can work in Africa and we would like to widen and deepen our business in Africa”. Rajan added that the group is currently present in 20 countries in Africa, through its nine different companies and has a total revenue of USD 2.3 billion.
So far, the Tata group has invested a total of USD 1.7 billion in the continent. Raman Dhawan was asked about the revenue growth from the continent in the future to which he said, “It is expected to grow at around 30 per cent every year.” The Tata Africa Holdings is a wholly owned subsidiary of Tata International which serves the headquarters for Tata operations in Africa.