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Tatas eye Rs 2,000 crore turnover from defence sector
New Delhi, Feb 04: Largest private sector player in the defence sector, Tata group, today said it was eyeing a four-fold increase in turnover by 2008 at Rs 2,000 crore.
The group provides a range of solutions for the defence sector, including transportation, air-conditioning, machining and manufacturing, security and surveillance equipment, electronic sub-systems, personnel armour and software services through its various companies.
''Leveraging the competencies of the companies in servicing the various needs of the sector, the Tata group is gearing to develop futuristic and customised solutions and is targeting revenues of Rs 2,000 crore by 2008,'' company officials told newspersons here.
Tata Sons director J J Irani said the group was looking at enhanced participation as the country's defence forces moved to greater modernisation.
Tata Motors executive director Ravi Kant said the company was committed to further enhance its product offerings and develop specially designed vehicles with a wide range of applications for the defence sector.
Madhu Bhagwat, chairman of another group company, Nelco Ltd, which is involved in security and surveillance equipments, said the group was aware of the paradigm shift in the defence sector due to the rapid modernisation processes and was open to partnering with foreign companies to meet defence requirements.
Apart from Tata Motors, which provides vehicles and vehicle-based solutions, other group companies involved in the defence sector include Nelco (security and surveillance solutions), Tata Advanced Materials Ltd (personnel armour and armour products), TCS/CMC (software and engineering services), Voltas (air-conditioning solutions, machine tools and machining and manufacturing solutions) and Tata BP Solar (solar photo voltaic and solar water heating systems).
Bureau Report