26 December 2007

Biz Newsmakers 2007 : Rediff India

Biz Newsmakers 2007
The year India Inc made it big.


Fantastic is the only way one could describe what 2007 has been like for Ratan Naval Tata, the chairman of Tata Group.
He led India's largest corporate house to the nation's biggest overseas acquisition on January 31, when Tata Steel -- after a long drawn battle -- pipped Brazil's CSN to acquire Anglo-Dutch steelmaker Corus for $13.2 billion. The merger created the fifth largest steel producing entity in the world.
Tata's brainchild, the Rs 1 lakh People's Car (which will be unveiled in New Delhi on January 10, 2008), was one of the most hotly discussed and debated issues of 2007. And while the Tatas get ready to launch the car in the Indian markets, the company has gone ahead and bid $2.05 billion to buy out British marquees Jaguar and Land Rover from Ford. Reports indicate that the Tatas have emerged as the preferred bidder for the two iconic brands of Ford Motors.

Also, during 2007, Tata firm Indian Hotels bought the Ritz-Carlton, Boston, while Tata Coffee acquired the US coffee chain Eight O'Clock.
The Tata Group was also named the world's third most accountable and transparent company in 2007 by Britain's One World Trust. Tata beat Coca-Cola, HSBC, PriceWaterCooopers and Google, when measured on the parameters of transparency and accountable leadership among global companies.

The annual Global Accountability Report also considered Tata Group at number 10, among the world's 30 most powerful organisations from the inter-governmental, non-governmental and corporate sector, to be accountable to civil society, affected communities and wider public.

More on this story @ Biz Newsmakers 2007

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