When anyone speaks about investment into Africa, China comes to mind. ItÃ¢â‚¬â„¢s the familiar and contentious story of
a developing power drawn to a resource-rich continent.
But now another growing economy, India, is eyeing Africa Ã¢â‚¬â€œ and IndiaÃ¢â‚¬â„¢s most prominent industrial house, Tata
group, is leading the pack.
Raman Dhawan, managing director of Tata Africa Holdings, the groupÃ¢â‚¬â„¢s strategic investment arm, tolda media briefing this week that revenues from Africa are expected to grow 30 per cent per year Ã¢â‚¬â€œ up from $2.3bn in the 2012 fiscal year.
Tata GroupÃ¢â‚¬â„¢s activities in Africa are executed both through the subsidiary, which was set up in 1994, and through the individual companies themselves. So, there are several plans for the continent.
For instance, Tata Hotels Resorts and Palaces currently has a 166-room hotel in Cape Town and the Taj Pamodzi Hotel in Zambia with another 193 rooms. Dhawan told reporters on Monday that the hospitality business is looking to expand on the continent: Ã¢â‚¬Å“We are considering proposals from three or four countries. All of these properties may not necessarily be in the luxury segment but they would be appropriate for the African market.Ã¢â‚¬Â
Likewise, Tata Motors, which was responsible for the groupÃ¢â‚¬â„¢s first foray into Africa when it entered Zambia in 1977, wants to grow into new African markets. Tata Automobiles Corporation SA currently distributes Tata MotorsÃ¢â‚¬â„¢ vehicles across the country and certain commercial vehicles are assembled in Pretoria too.
R T Wasan, head of international business for commercial vehicles at Tata Motors, told the briefing on Monday: Ã¢â‚¬Å“We are looking at new assembly operations in Tunisia and Kenya through local partners. We are focusing on small, light and medium commercial vehicles.Ã¢â‚¬Â