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Raghuvir Srinivasan

TIMES they are a changing. Even a couple of years ago, it would have been difficult to imagine a Tata group company as an aggressive player acquiring companies in India or abroad. Yet, that is exactly what may happen soon if Mr Ratan Tata's vision for group flagship, Tata Motors, comes true. Buoyed by the successful acquisition of Daewoo Commercial Vehicle Company of South Korea, Tata Motors is creating a fund as a reserve to finance acquisition opportunities.

This is a revolutionary proposal coming from a group that has over the years earned a reputation, unfair some may say, of being a slow-mover. Yet, this symbolises the metamorphosis of the Tata group from a dominant player of the controlled-economy era to a savvy and tough competitor willing to flex its muscles for the right objective.

Playing a major role in this metamorphosis is Mr Ratan Tata, the group's non-executive chairman, and his team of carefully picked, outstanding professionals such as Mr R. Gopalakrishnan, Mr Ishaat Hussain and Mr Kishore Chaukar.

The last few years have seen this team guiding the group out of choppy waters and how! If Tata Motors has risen from the historic low of 2000-01 to a global company now, Tata Steel has earned the distinction of being the lowest cost producer of steel in the world. Others such as Indian Hotels and Tata Chemicals are quietly working to move up the ladder to world-class outfits.

Of course, there are some dark spots too such as the deteriorating performance of Videsh Sanchar Nigam, which is fast losing its pre-eminent position in the telecom industry. And, again, there is that tremendous challenge of taking Tata Consultancy Services public. A successful listing of TCS will truly complete the image makeover of the Tata group as a nimble-footed, savvy one ready to take competition head on.

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