How Big is the Tata Group of industries?
Created on 05 Jun 2020
Wraps up in 3 Min
Read by 7.1k people
Updated on 02 May 2022
Nothing worthwhile is ever achieved without deep thought and hard work.”-JRD
Who else can be shown as an example for the above saying than the Tata themselves? The Tatas have occupied a very high position in the corporate sector using the magic of hard work. The Tata group has set its foot on almost every product you can think of. From salt to luxury hotels, they turned everything they touched into gold. It’s time to turn the pages of history to find out how it all started.
Tata group of companies
The Tata group of companies came into existence in 1868 as a simple trading firm. But over the years, they expanded vastly, branched out to 100+ countries, and became one of India’s top conglomerate entities.The founder of the Tata group Jamsetji Tata has to be credited for its success. Wanting to return to his family business Ratan Tata gave up on a job with IBM and flew back to India to work for his family business. The Tata empire grew and further accomplished itself under his management.
Holding a place among the top 100 global conglomerate chains, the networth of the Tata group is $98 billion. They are now in Textile, airlines, FMCG, hotel chain, IT, and so on. So anywhere you turn, there is a good chance that you might come face to face with a Tata product. Approximately 700,000 people are now employed; it generates $110 billion as revenue yearly. Brands like Indicash, Advinus, Vivanta, Taneria, Zara, Himalayan water, Zudio, Elxi, Selections, etc. are operated by the Tatas as well.
How did they do it?
The Tata group is focussed on creating a strong brand image backed by trust and hard work. They steadily looked out for paths that would place them in the track of growth. They joined hands with various industry leaders and entered into joint ventures. For instance, they partnered with the Japanese telecom giant to launch DOCOMO services in India and introduced Starbucks in India, joining hands with JV.
They had a firm pricing policy. In other words, they introduced high-quality products into the market at a fair price. Hence, they were able to form a massive base of loyal consumers. Further, they took huge risks and had the drive to turn them into success. For example, they were forced to face huge losses with Tata motors. So they were forced to sell it and approached Ford for the same. However, the humiliation they suffered made them turn Tata motors into a considerable profit churning company.
Want to find out more about the Tata
Finally, a few facts which would leave awe-struck.
Tata group collaborated with Tanishq and created a $3 million worth version of the world’s cheapest car, Nano, entirely made of gold.
Taj was the first to get electricity in India.
Ratan Tata loves the color Red so much that he once went to an art dealer and said that he would buy any paint that has a red glow on it. Also, he is the first Indian of free India to be awarded an honorary knighthood.
He was close to being married four times. The closest he was to getting married was with a mystery woman in the USA. But he had to fly back to India and the woman was to follow him and get married. But, the Indo-Chinese conflict prevented it, and she married someone else.
Following the Bombay Taj attack, he accepted tenders for renovating the hotel. Two Pakistani’s too competed for the contract. However, Ratan Tata declined to meet them.
Air India was founded by the Tata Group in the year 1932, as TATA Airlines.
Being the recipient of various honors or breaking massive corporate records did not stop them from moving ahead. They are still working towards bringing new victories to the company and excelling in the corporate arena. They sure are an undestroyable example for future entrepreneurs to look at and follow.
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