Saturday, November 7, 2009

Ratan Tata Sees Indian Economy is in Recovery Phase

Ratan Tata, the chairman of Tata Group, has said that the economy of India is going though a recovery phase after badly-hit by the global economic recession. He was giving a speech at the Silver Jubilee celebration of a High Range School which is funded by the Tata Group while revealing his optimism about India’s economy.

Mr. Tata also talked about Tata Group’s approach to cutting coast in order to adapt to the recent economic slump. He mentioned that group executive were not traveling in business class and not getting bonuses. Tata Group is also looking to create products for people with low economic background. For example, Tata has initiated low-cost housing in Bangalore and Kolkata as well as in some parts of Assam.

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