Though he died in 1904, three years before Tata Steel was formed, Jamsetji Tata achieved his dream of establishing an iron and steel industry in India by laying its foundation. It required enormous confidence to do so because in those days even a safety pin was imported from Britain. The British scorned at Jamsetji's ambitious venture but he believed that Jamshedpur (which he conceptualised but did not live to see) would compete with Birmingham one day.
A century later, his great grandson, Ratan Tata, has made India proud by acquiring Corus, the Anglo-Dutch steel major, against heavy odds. This single act is symbolic of resurgent India and the whole nation salutes the Tata behemoth.
The editorial "Outstanding global foray" (Feb. 1) shares the general perception that the Tata group can command respect from the entire global financial market hereon. Though the price paid for acquiring Corus appears high, the combined entity gains the twin benefits of added research and development facilities as well as access to important markets of Europe.
C.P. Velayudhan Nair,
The acquisition is a positive development in the Indian corporate world. It has put Tata Steel in the big league of top steel producers. The merger will undoubtedly give the Tatas access to the important markets of Europe and pave the way for the manufacture of downstream products.
I. Hari Chandan,
The acquisition reflects the courage and determination of Mr. Tata and his dedicated team that clinched the deal against heavy odds. The deal has proved beyond doubt the industrial empire's bold initiative, vibrant leadership, prudent managerial strategy and, last but not the least, its traditionally well-acclaimed commitment to the country's social and economic development.
Mr. Tata and his team have shown remarkable tenacity, tact, and team spirit to clinch the deal. The Tatas have become the trendsetters for other Indian industries as far as investing in foreign countries is concerned. No doubt the stakes were high but Mr. Tata and his men did not flinch.
As a former employee of TISCO, Jamshedpur, and former trainee in one of the Corus plants at the Steel Company of Wales (as it then was) at Port Talbot in 1960 I am delighted with the news of the acquisition. I know from personal experience that there already exists considerable synergy between Indians and the warm, friendly Welsh. The Welsh speak English in almost the same lilting way as we do. They have suffered a lot after the closure of coal mines in the area.
I hope the Tata group, which is its own benchmark for labour relations, will take this into account while dealing with the employees at the Port Talbot plant.