India's Tata group plans to invest 1.20 trillion rupees ($25.8 billion) in the next three to five years in telecommunications, steel, chemicals, power and other industries, a group official said on August 24.
"These are the areas in which we believe the companies can contribute value for money for its customers and investors across the sectors," Kishor Chaukar, a director at the group's holding company, Tata Sons, said.
The group, India's second-largest business conglomerate by sales, comprises 93 companies including Tata Steel Ltd, Tata Motors Ltd, Tata Consultancy Services Ltd, Tata Tea Ltd and Tata Power Co Ltd.
Tata officials also said the group's telecommunications firm, Videsh Sanchar Nigam Ltd, would cut bandwidth prices by up to 40 percent and reduce the prices of international private leased circuits by a quarter.