Ratan Tata Eyes Investment In Canadian Mining Segment

Ratan Tata Eyes Investment In Canadian Mining SegmentTata Group chairman Ratan Tata has said his company will strengthen its presence in Canadian market, hinting at mining as one of the fields.

Presently, Tata Consultancy Services (TCS) has businesses across Canada, having offices in Montreal, Calgary and Mississauga in the Greater Toronto Area and presence in other cities.

The group bought the Canada-based Teleglobe in the year 2005. Based in Montreal, it runs as a division of Tata's Videsh Sanchar Nigam Limited.

The Tata group also holds an equity stake in the mining company New Millennium Capital Corporation in Montreal.

At a reception hosted by the Canada-India Business Council (C-IBC), Mr. Ratan, who was in Canada on Friday, stated that his group was considering more opportunities for investment in different Canadian segments.

Since mining regions in Canada drop in the freezing cold north, Tata joked, "When I spent years at Cornell (as a student), I decided never to go to a cold place, but here I am today (with freezing temperature in Toronto)."

He said his few hours' visit was not the right time to make any decisions about Canadian segments or companies his group will make investment in. The task was not simple as Canadian companies were not as noticeable in India as US companies, he said.

But since his group already has existence in Canada, he said: "We should do business here." (With Input from Agencies)