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Tata is one of the oldest and largest business conglomerates in India, with revenues in 2005-06 of Rs 967,229 million (US$21.9 billion), the equivalent of about 2.8 per cent of India's GDP, and a market capitalisation of US$47.4 billion. The Tata Group has operations in more than 40 countries across six continents and its companies export products and services to 140 nations. The group takes the name of its founder, Jamsetji Tata, a member of whose family has almost invariably been the chairman of the group. Until 2003 the chairman was Ratan Tata, who took over from J. R. D. Tata in the 1990s. TISCO is now renamed as Tata Steel Limited while TELCO has become Tata Motors Limited. The Tata Group comprises 96 companies in seven business sectors. 65.8% of the ownership of Tata Group is held by the charitable trust of Tata.•
History Jamsetji Tata came from a business family and made his fortune from cloth mills in the interior of Maharashtra. He was well travelled and went in for modern industry for India. He constructed a hotel in Bombay, the Taj Mahal Hotel, in 1903. It was the first large hotel in India, and it was rumoured to have been set up as established hotels of the time were owned by Europeans and did not allow locals. The Indian Hotels Company is a Tata group company that runs the Taj brand of hotels. TISCO, now Tata Steel was established in 1907 to set up India's first iron and steel plant in Jamshedpur. The plant started production in 1912. It produces steel at one of the lowest costs in the world, assisted by the Group's ownership of its own raw materials (coal and iron), which means that its cost base is far lower than many rival steel producers. In 1910, Tata Hydro-Electric Power Supply Company was set up. In 1917, the Group entered the consumer goods industry with the Tata Oil Mill Company being established to make soaps, detergents and cooking oils. In 1932, Tata Airlines was established. In 1939, Tata Chemicals was established. TELCO, now Tata Motors, was established in 1945 to manufacture locomotive and engineering products. Business and values Tata Group's aim is to improve the quality of life of the communities it serves. The Tata family of companies shares a set of five core values: integrity, understanding, excellence, unity and responsibility. Tata Group has played a pioneering role in a variety of fields after India's freedom. It is widely respected for the initiatives it has taken in different fields for the upliftment of the country. Its contribution to India's education, science and technology is widely documented and appreciated. In fact many of the renowned public sector companies in India and leading research organisations trace their history to Tata. Tata Institute of Fundamental Research TERI (Tata Energy Research Institute) Air India (Tata Airlines) Engineering Materials Energy Chemicals Services Consumer Products Information systems and communications The Tata logo The now ubiquitous blue-coloured Tata logo was designed by the Wolff Olins consultancy. The logo was meant to signify fluidity; it may also be seen as a fountain of knowledge, also as a tree of trust under which people can take refuge. Educational institutes opened by Tata Group See also | |||||||||||||||||||||||||||||||
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