Tata to invest Rs 1,000 crore in defence sector
The Tata Group would be investing the money for infrastructure upgradation and research and development.india Updated: Jan 30, 2006 21:37 IST
The Tata Group announced on Monday that it would invest Rs 1,000 crore in the defence sectorfor research and development and infrastructure upgradation.
The Group, which has various companies involved in the defence sectorlike Tata Motors, TCS, Tata Power Strategic Electronics Division, Nelco, Tata Advanced Materials and VSNL, said that the investments would be spread over the next four-five years.
"The investments would not only be made in getting high quality manpower but also for research and development and infrastructure development," MN Bhagwat, Chairman, Strategic Council, Tata Power Strategic Electronics Division, said.
"The Tata Group aims to achieve this target by exploring the synergies between group companies, leveraging its strength in strategic electronics, IT and communication to meet the needs of the armed forces in an era of digital wars," the company said.
Tata Industries Director MA Pathan said that as the Government looked for greater participation from the private sector, Tata group could harness its strengths in diverse areas ranging from personnel armour, strategic electronics and communication systems.