Yesterday was a great day for India. First we convincingly won a cricket match against Windies with Sachin Tendulkar hitting his 41st hundred. And then came the news that Tata has acquired Anglo-Dutch steel-maker Corus. It is a mammoth deal of around USD 12 Bn (Rs 54000 Crores). This acquisition makes Tata the world's 5th largest steel maker with Mittal Steels on the Numero Uno position. Now we have Indians manning two of the five largest steel companies!!!!! India is truly going global. Get aside, Indians are coming. Go India Go!!!!!!
1 comment:
First Indian Multinational in making.....yes we are lucky to be part of that era where one can see an aggressive,confident Indian Corporate group ready to take the developed markets of first world.
It's the biggest acquisition done by any Indian company.They have pioneered in many things-started the 8 hour work day in 1912 when all the developed world had 12hrs work day.They introduced leave with pay system which became a practice in India after independence.Tata Steel never had a labor strike eventhough there is a strong labor union...thats an enviable record....wat say...
Some people say that Tata let heart ruled over mind in this deal becuase they feel that it was an expensive buy.Let it be...There are times when you need take into consideration the emotions of people who are behind you....whether its the TATA family,its employees or Indians as a whole...This win was important...
This will have a long lasting impact on Corporate world and TATAs as well...The products made by Corus rightly compliment the TATA Steel portfolio...
The employee morale boost up was necessary(given the fact that world number one is starting a plant in your backyard)...employee retention would be a great challenge for them in future...Now TATAs are world number 5....They have a reason to smile...
:-)
Jamshetji was not allowed in one of the British Hotel....He built Taj Mahal hotel Mumbai....Direct Dil se!!!!!!
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