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MUMBAI, India (AP) - A dozen years ago, many believed that India's Tata Group — the country's oldest and largest conglomerate — was a bloated behemoth that would eventually go under.
Instead, it has become a powerhouse in the 21st century, focusing on core businesses like steel and automobiles and seizing opportunities, including the hugely profitable outsourcing business, that came with India's dramatic economic transformation.
A slew of recent acquisitions, including for Britain's Tetley Tea and Boston's Ritz Carlton Hotel, have thrust the Tata conglomerate — which comprises 98 companies and was largely unknown outside India until recently — into the global spotlight.
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