Tata International, the global trading and distribution arm of the Tata Group, will expand its footprint in Africa by entering Angola and Ethiopia, reports a business daily.
"We are already present in 12 nations such as South Africa, Kenya, Ivory Coast, Nigeria, Tanzania, Zambia, Zimbabwe and Uganda, among others. Our presence is more in the Eastern region as it is politically more stable. In 2016 we will be entering Angola in the West and Ethiopia in the Eastern side," Executive Director at Tata Africa Holdings (Tanzania) and Head of Non-auto Distribution at Tata International Ajay Mehra has been quoted as saying.
"We will have agri trading, both imports and exports, to begin with, in these markets," Mehra told a domestic news agency in Mumbai.
TIL reported a US$2.2 billion turnover in 2014-15, up from US$1.7 billion in 2013-14 and expects a growth of around 15% in the current fiscal year, according to Mehra.
Almost 80% of the US$2.2-billion income came in from auto sales, which includes Tata Motors' JLR as well as John Deere brand of tractors apart from Tata-Hitachi brand of construction equipment, earthmovers etc, he added.