Tatas woke up Britain: UK Minister

Discussion in 'Economics' started by Yuvrajjj, Dec 23, 2009.

  1. The Tatas' acquisition of Jaguar and Land Rover (JLR) had woken up Britain to growing Indian strength, UK Secretary of State for Business and Innovation Peter Mandelson today said.

    "Tatas investment in JLR brands has woken Britain up to the growing strengths of Indian manufacturing," Mandelson said at a CII function here.

    Mandelson, who is here to "bang the drum" for British manufacturing, hoped the Tatas' investment in his country would send a clear signal to the rest of Indian industry about the manufacturing potential from Britain.

    Tatas had acquired the British marques JLR in 2008 for $2.3 billion. At the time of the buyout JLR was struggling financially but the Indian group has been nurturing it back to health with sales showing improvement.

    Mandelson said, the UK supply chain companies need to get into India.

    He said, Britain is also keen on increasing 10-fold partnership in the field of higher education.

    "There are about 250 partnerships between Indian and UK universities and institutions. I want to see this grow 10-fold in the next five years," he said.

    Mandelson described India as a "racing car" which is revved up and ready to roar off but still has "handbrakes" on.

    He said India stands at a critical point. "My question is shouldn't India ease off the handbrake?"

    Mandelson also listed the low carbon business as an area of cooperation with focus on climate change.

  2. just21


    The tata acquisition of corus/british steel and the closure of Redcar steel works woke the world up to the scam of carbon credits. 1700 lost their jobs so the carbon credits could be sold. A new steel works was built in India, net reduction in Co2 zero.
  3. The 2010 model. :cool: