The Tata Group is planning a significant expansion into India’s shipbuilding industry, with a proposal to invest Rs 10,000 crore in a new facility in Kerala.
According to Bloomberg report, the state government is currently evaluating the proposal, which, if approved, would mark the conglomerate’s entry into a sector that has become a strategic priority for the country.
Kerala Chief Minister VD Satheesan confirmed that the company has approached the state with the investment proposal and indicated that the government is inclined to support the project.
“Tata is ready to invest on shipbuilding,” he said, adding, “We are going to provide the land.” According to the Chief Minister, the proposal is under active consideration and could receive formal approval within the next month.
The proposed venture would diversify the Tata Group’s already extensive business portfolio, which spans automobiles, steel, consumer products, electronics and hospitality.
