The Tata group is scouting for opportunities to invest in China's automobile, hospitality, steel and telecom sectors apart from consolidating the existing venture in information technology, group chairman Rattan Tata said in Beijing on Thursday.
"In Tatas, we consider China to be a very important partner in our plans to internationalise our operations," Tata said at a press conference to mark the first year of operations of Tata Consultancy Services in China.
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"Therefore, apart from the commitment which we have already made where we intend to grow in information technology, we also are looking at investments in China in the hospitality area, in steel and in the automobile sector," he said.
Tata, who has visited Shanghai and Hangzhou cities so far, declined to give specific information regarding the group's planned investments in China.
"As far as steel is concerned, we are talking to some Chinese steel producers about collaborating," he said, adding that potential venture could include shipping intermediary products from India and finishing them in China.
In the telecom sector, the group is looking at hardware and at Chinese operators for investing in India, while in the automobile sector, Tata is looking at exporting, importing automobile components from China and even joint development of automotive products.
In the hospitality sector, the group is looking at the prospect of starting a hotel venture in China.
"We are looking at both countries together. We are not investing in China for China. It has to make business sense to both sides," he said.
"While many may consider China and India as competitors, we would consider China to be the very source of partnerships between our groups and companies in China," Tata said.
Noting that the combined population of China and India totalled over two billion people, Tata said it was "one of the greatest opportunities" that exists between the two neighbours as they offered an enormous market and a big pool of skilled workers.
"Tatas would therefore like to commit themselves to making an investment in China and would also like to explore ventures where Chinese companies would like to invest in India, promoting two-way investment and trade between the two countries," he said.
"We therefore hope that from this visit, which is only the start, we can come closer to China and that the Tata group can find a place in the Chinese scene in the long-term on a mutually beneficial basis and the two countries can achieve a great deal of success together," he said.
