In an article about India’s 61st Independance Day, there is mention of Ratan Tata.
This has been bolstered by “reverse colonisation” as Indian entrepreneurs and businessmen began acquiring landmark western conglomerates, outbidding their more established rivals from developed economies.
In March, Rattan Tata, who heads the US$29 billion (Dh106.43bn) Tata Group, is one such “Indian sahib” who acquired the UK’s sporty Jaguar and rugged Land Rover brands for over $2.3bn.
The 71-year old Parsee, who had earlier bought Tetley’s, a top English tea brand, and Corus, the Anglo-Dutch steelmaker, now owns a car brand that has been the favoured carriage of successive British prime ministers and monarchs. India also clinched a major deal with the United States that would allow it to import nuclear fuel and technology from the west, without signing on to a nuclear-non proliferation treaty.
But the fruits of India’s achievements have not trickled down to the vast majority of India’s 1.2bn people, more than 900 million of whom live on less than $3 a day.
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