Tata Group Planning to Invest USD 2 Billion in Super App Tata Neu to Boost Digital Business

Tata Group, which is involved in business ranging from automobile to software, has planned to invest two billion dollars (about Rs 16,500 crore) in its super app Tata Neu to expand digital business. This will help Tata Group to strengthen its digital business, overcome technical shortcomings and meet new spending needs.

of Bloomberg News Report It has been told that this investment will be made in two years. Tata Group has also asked Tata Digital to find ways to increase the valuation of the super app. Tata Group spokesperson declined to comment in this regard. Tata Digital did not respond to queries sent by Reuters. Tata Group launched the e-commerce super app in April last year. It has facilities ranging from purchasing apparel to booking air tickets. Through this, Tata Group plans to compete with Amazon and Flipkart in the rapidly growing market of e-commerce.

At the end of last year, it was reported that Tata Group is planning to open 100 stores across the country to sell the products of American iPhone maker Apple. Tata Group company Infiniti Retail, which runs consumer electronics store chain Croma, will open these stores in shopping malls and some other places and will be an authorized reseller of Apple. Apart from this, Tata Group also planned to buy the factory of Apple’s contract manufacturer Wistron for about Rs 5,000 crore.

Apple has set a target of increasing India’s share in the total production of its iPhone to 25 percent. This figure for the company is currently around seven percent. Apple started assembling iPhones in the country through Wistron a few years ago. Apple exported iPhones worth more than $2.5 billion from India between April and December last year. The company started assembling some models of its new iPhone series in India last year. The central government has approved incentives for two companies Foxconn and Padget Electronics under the Production-Linked Incentive (PLI) scheme at the end of last year.