India's Tata Technologies to invest US$1.8 billion in Telangana state
Tata Technologies will invest US$1.80 billion in the Indian state of Telangana to set up government-affiliated skilling centres, the state government said on Thursday (Jan 18).
The investment from the unit of Tata Motors is the second commitment to the Telangana government in two days after the Adani Group announced a US$1.49 billion investment on Wednesday.
Indian states have received a slew of pledges for investment from companies including Maruti Suzuki in the past week at business events such as the Vibrant Gujarat Global Summit and the World Economic Forum.
Tata Technologies, which provides engineering services to auto, aero and heavy machinery makers, will set up skilling centres in 50 government-run industry training organisations.
The salt-to-aviation conglomerate also is close to announcing plans to build a semiconductor fabrication plant in Indian Prime Minister Narendra Modi’s home state of Gujarat, Tata Sons’ chairman said last week.
The latest investment is part of a larger commitment from Tata Group companies, such as Tata Consultancy Services and Tata Advanced Systems, to expand in the state.
GET BT IN YOUR INBOX DAILY
Start and end each day with the latest news stories and analyses delivered straight to your inbox.
“Tata Group is expanding its Air India fleet and has plans to increase both domestic and international connections from Hyderabad,” the state government said in a statement.
It did not provide details on the other Tata investments. REUTERS
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Pfizer lifts 2024 profit view on cost cuts, higher Covid vaccine demand
Shell exits China power market businesses
DuPont beats profit estimates, raises full-year forecasts
Binance founder Zhao Changpeng gets four months in prison
Apple set for big sales decline as investors await AI in iPhones
Microsoft, Brookfield to partner on renewable energy projects