Singapore on Friday conferred its honorary citizenship on Ratan Tata, chairman of the Tata Group, in recognition of his abiding business relationship with the island nation and his contribution to the growth of high-tech sectors in Singapore.

Tata is the first Indian to receive the honorary citizenship of Singapore. Singapore President S.R. Nathan presented the award to Tata at a solemn ceremony at the presidential palace, Istana. The ceremony was attended by Singaporean government ministers, prominent citizens and top executives of Tata Sons.

“Singapore welcomes global talent who can add value to Singapore,” said Deputy Prime Minister Wong Kan Seng.   He described Tata as an “exemplary business leader” who had helped propel Singapore’s economy by making extensive contributions to the city state’s development. “The award is a reflection of Singapore’s gratitude,” he said.

Tata said he was “deeply honoured” to receive the award. “I am pleased to have been able to play a small role in the development of Singapore’s economy.”  He described the award as a privilege for the Tata Group, adding that he hoped “future collaborations would bring forth greater synergies”.

Tata has had a decades-long association with Singapore. As a young man he had worked at one of the Tata companies in Singapore way back in the 1960′s, long before he returned to India to rise up the corporate ladder at Tata Sons.

In the decades since then he had retained his links with Singapore, strengthening business ties in the information technology, auto components and precision engineering sectors.  The citation for the award said, “Over the years, Mr Tata’s business acumen has helped Singapore tap into higher value-added growth sectors.”

The honorary citizenship is among a host of honours that Tata has received in recent months. In November 2007 he was listed among the 25 most powerful people in business by Fortune magazine. In May this year, Tata figured in Time magazine’s 2008 “List of the World’s 100 Most Influential People.”

Singapore instituted the honorary citizenship award in 2003 to recognise foreigners who have made extensive services to Singapore or who have made a significant impact in the areas of business, science and technology, information communications among other sectors. The life term award is the country’s highest recognition for a non-Singaporean.

News courtesy: NDTV Profit

PS: This is the first post composed and posted via Google Chrome

+++

I had sometime earlier read about the British denying of an steel plant to JN Tata in the early 1900s which lead to him starting a steel company in India which finally led to Tata Steel. Today, Ratan Tata, the descendant of the enterprising pioneer has bought over the mega steel company Corus and two of the most iconic British automobile brands (Jaguar and Land Rover). Though Deccan Chronicle might be trying to create a story out of nothing, its still an interesting read.

The low profile Tata chairman, Mr Ratan Tata, has more than avenged the scorn that the British had first poured over his forefather and founder of Tata Steel, Jamshedji N. Tata with the signing and sealing of the deal involving the takeover of the iconic Jaguar-Land Rover brands.

According to history J.N. Tata, a big name in textiles, got the idea of a steel plant when he was on a trip to Manchester. He had set his mind on building a steel plant that would rival the best in the world. But as he found, steel was not as easy as building textile mills.

He had wanted to raise funds for his steel venture but it was met with scepticism by the British who were in the throes of the industrial revolution. As his biographer Frank Harris said Tata found his path blocked at every turn with the curious impediments which dog the steps of pioneers who attempt to modernise the East. There was Sir Frederick Upcott, chief commissioner of the Great Indian Penninsula Railway, who promised to ‘eat every pound of steel rail Tata succeeded in making.’

But Tata persisted and succeeded. In 1900 he met the secretary of state for India, Lord George Hamilton, in England. He was a man in a hurry as he bulldozed his way. He went from there to the US where he consulted Julian Kennedy, a leading metallurgist, and later met Charles Page Pertin who he wanted to take charge of building the plant in India.

Meanwhile, he advised his office in Bombay and it was known then, to obtain prospecting licences. But he passed away in 1904 and the steel plant took its first step in February 1908 when the first stake was driven in. The first blast furnace was blown in on December 2, 1911, and the first ingot was rolled out on February 16, 1912. One does not know if Sir Frederick was around and whether the steel ingots formed part of his diet then.

Now two centuries later, his successor Ratan Tata, literally took Britain by storm when he first took over Corus and then bid successfully for Jaguar-Land Rover. There was the same scepticism about a third world country taking over Corus and JLR. In fact in the US, dealers were appalled that an Indian should be taking over JLR as they thought it would reduce their ritzy luxury qualities. But Tata Motors prevailed and these British brands are now firmly hitched in Tata stable.

Article from: Deccan Chronicle

+++

Earlier, there was news that Ratan Tata was interested in taking a stake in Ferrari. With this deal, the Tata group now holds on to some of the most iconic brands in the world which include Corus Steel, Tetley Tea, Ritz Carlton hotel in Boston, Jaguar and Land Rover.

Thousands of workers at Jaguar and Land Rover plants are expected to be told today that the marques have been sold to the Indian conglomerate Tata.

It is understood that a deal between Tata and Ford over the sale of two of the best known names in British car making was concluded last night after months of painstaking negotiations.

Ford refused to confirm a deal had been signed last night, saying any significant development had to be communicated to employees first. However, formal confirmation that the two sides have reached agreement is expected via simultaneous announcements in India, Britain and the US at around noon GMT today.

The companies have been in detailed negotiations for almost three months after Tata emerged as the leading bidder, ahead of rivals One Equity, a private equity concern, and automotive group Mahindra and Mahindra.

Yesterday the two sides were refusing to be drawn on reports from India that Tata had agreed to pay $2.65bn (£1.3bn) for the marques. The Reuters news agency quoted a source close to the deal as saying: “That figure of $2.65bn is highly unlikely. You have to come south from that by quite a bit.”

Full article here

+++

Ratan Tata has kept his promise. The world’s cheapest car (US$ 2500), Tata Nano is launched. What will its launch mean for the competition, environment and the traffic situation in general? Well, time will tell. As of now, wait for the second half of the year when the car is set to go into mass production and hit the roads.

Above picture courtesy: Rediff

+++

Automobile major Tata Motors and space agency Indian Space Research Organisation (ISRO) are gearing up to launch the prototype of the world’s cleanest car that will run on hydrogen and emit a mere wispy trail of water vapour. Making this announcement in Bangalore on Thursday, ISRO chairman Madhavan Nair said that the car would roll out early next year.Nair said that an agreement for the pilot project to see whether hydrogen can be used as fuel for automobiles had been signed and work had already commenced on the project. He said that ISRO is working with the Tatas and, if all goes well, the car will be rolled out in early 2008.

This car will have engine as it will be completely electricity-driven, and hydrogen and atmospheric oxygen will be combined in the fuel cell to produce electricity that will propel the car. The car will also have hydrogen storage and regulatory control systems, Nair added.

Full article here.

+++

India has surprisingly broken into the Top Ten in a much-fancied twice-yearly list of the fastest supercomputers in the world, marking a giant leap in its push towards becoming a global IT power. A cluster platform at Pune’s Computational Research Laboratories (CRL), a Tata subsidiary, has been ranked fourth in the widely anticipated Top 500 list released at an international conference on high performance computing in Reno, Nevada.

It is the first time that India has figured in the Top 100 let alone Top Ten of the supercomputing list. The list, which is usually dominated by the United States, is also notable this time because it has five new entrants in the Top Ten, with supercomputers in Germany and Sweden up there with the one in India.

The fourth-ranking Tata supercomputer, named EKA after the Sanskrit term for one, is a Hewlett-Packard Cluster Platform 3000 BL460c system. CRL has integrated this system with its own innovative routing technology and to achieve a 117.9 Teraflop or trillions of calculations per second.

The No. 1 position was again claimed by the BlueGene/L System, a joint development of IBM and the US Department of Energy’s (DOE) National Nuclear Security Administration (NNSA) and installed at DOE’s Lawrence Livermore National Laboratory in California.

While the US is clearly the leading consumer of high power computing systems with 284 of the 500 systems, Europe follows with 149 systems and Asia has 58 systems. In Asia, Japan leads with 20 systems, Taiwan has 11, China 10 and India 9.

The second ranked supercomputer in India, rated 58th in the Top500 list is at the Indian Institute of Science in Bangalore. Others are ranked 152, 158, 179, 336, 339,340 and 371.

Full article here.

+++