The Hindu Business Line : Tatas may look at US market for hotels, automobiles in future

LET'S WORK TOGETHER: Mr William Harrison III, Chairman of the Board, JP Morgan Chase & Co, and Co Chairman, US CEOs Forum, with Mr Ratan Tata, Chairman, Tata Sons Ltd, and Co-Chairman, India CEO Forum, at a press conference in the Capital on Friday. — Ramesh Sharma

New Delhi , March 3

The Tata Group Chairman, Mr Ratan Tata, said the Group would look at increasing its presence in the US market and indicated that the hospitality and automobile sectors could be the possible focus areas in the future.

"In the hospitality area, we hope the US will be a location for several new hotels. One day in the future we may have a small presence in the automobile sector... certainly not now," Mr Tata said at the India-US CEO forum here on Friday.

Mr Tata — who was addressing the media a day after India and the US sealed the historic nuclear deal — reiterated that Tata Power would be interested in getting into nuclear power generation in the country if the Government permitted private sector participation.

"I see tremendous opportunity for Indian industry in nuclear power. Last year, at the shareholders meeting of Tata Power, I had indicated that in the event Indian industries are permitted to participate, Tata Power will be interested," he said.

"What has happened in the last couple of days is a historic movement and it has positively bridged a gap that existed in relations between our two countries. The understanding in nuclear power will allow India access to clean power and will bridge the power shortfall," he said.

Indian brands in US market

To a question on the time it would take for Indian brands to penetrate the US market, the Tata Group chief said, "The US is a huge and discerning market. My advice to the industry is that they should establish their brands adequately overseas and mature them before addressing the US market. To be rejected in the US market will be worse than not going there.

"There is no deterrent in making investments in the US today but the events of the last few days will enable new partnerships to be created," he pointed out.

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