Andhra Pradesh - Hyderabad   

Tata group eyes emerging tech areas

HYDERABAD: Tata Industries Ltd is foraying into emerging technology areas such as alternate energy cells, drug discovery, diagnostic tools and water technologies and has already invested funds in them.

Giving an update on Tata Industries at a press conference here on Monday, its Managing Director Kishore Chaukar said the company wanted to fund ventures and stay with them to ensure they turned into a profitable business or technology. It was planning to invest US $ 350 million in new ventures in India and abroad. Among the ventures it is funding is an Unmanned Aerial Vehicle being developed by a group of students from Indian Institutes of Technology in Kharagpur and Kanpur costing just Rs. 20 lakh against Rs. 1 crore for the Israeli version.

These students showcased a prototype at the recent defence exposition where the Army top brass evinced keen interest. Tata Industries is ready to fund the UAV project to the extent of Rs. 5 crore initially.

He said it was negotiating with an NRI professor in Harvard, USA, to manufacture a palm top that could instantly identify a pathogenic body fluid and had interesting applications as a medical diagnostic tool and in biological warfare. An investment of nearly Rs. 60 crore in this project was under discussion. A flexible solar cell with technology from Switzerland using polymers was another promising investment initiative.

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